Tuesday, July 20, 2010
Aussie Futures Contract Specifications; tick value, margin requirements, round term commissions
Symbol: 6A (CME)
Tick Value: .0001
Cost/Tick: $10.00 usd
Margin: $500 usd/contract
Benefits: great moves, not too much volume, overnight trading in US time zones
Drawbacks: can be low volume during US session open
Best Time to Trade: 3:00am – 1230pm
Favorite Pattern: Euro Correlation, reversal on 21-range chart at HOD/LOD
Favorite Timeframes: 13-Range for Day Trading, 21 & 34-Range for Swing Trading
The mighty Aussie dollar is known for being an excellent market for overnight trading for most of the trading world.
While the markets close in the US and Europe they are opening in Australia, and that’s when night owls here in the US look for big opportunities for overnight profits.
Look for reversals on a 21-range chart of the Aussie dollar for easy day trading opportunities between 9pm and 7am EST.
You will see decent moves on the Aussie futures contract during the US morning session, but watch for volume drying up after the morning news passes.
We trade this market every day in our trade room, and our blog posts day trades like these each day so be sure to follow this blog and keep up with our trade calls.
Contact our support team for futures brokers for cruAussie Dollar futures
Click here for Aussie Dollar Futures Contract Specifications on the Exchange Website
Learn How to Day Trade, Scalp Trade and Swing Trade Aussie Futures
Posted by
Joseph James
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