Archive
Monthly Archives: May 2011
May 17, 2011
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Should I buy the lows or sell this retracement on Gold?
830am ET – We begin our day with the dollar index – We see a bullish channel with a price wedge – We call this a ‘bull wedge’ – We know how to trade a bull wedge, but this is the DOLLAR, so we use this as a correlation tool – Rising prices make up […]
Continue reading May 17, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – 11:00 (US) Fed to purchase $5-7B in notes/bonds – 11:30 (US) Treasury to Sell 4-Week Bills – 16:30 (US) Weekly API Energy Inventories – 17:00 (CO) Colombia Mar Trade Balance: $150.0Me v $362.6M prior 10:30 AM Market Internals update at 10:30ET – NYSE volume 190M shares, about 10% below its three-month average; […]
Continue reading May 17, 2011
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Day Trading in the DEAD ZONE, profit from low volume moves
– Why do we watch CAD news? o Canada is a large exporter of Crude o I use the site ForexFactory.com to find the most important CAD-related news – Big money Trigger Line (BMT) o Tells us where to take profit o Tells us where to avoid entry o The BMT is considered the center […]
Continue reading May 17, 2011
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Narrow trading ranges calm before the storm in crude oil and gold markets
‘We are what we repeatedly do. Excellence, therefore, is not an act, but a habit’ – Aristotle Crude Oil and Gold Futures continue to trade in narrow sideways ranges this morning as they look for clues towards the future direction of prices. Looking at the Dollar Index, Crude Oil and Gold Futures this morning you […]
Continue reading May 16, 2011
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Bear Channel Great Buying Opportunity on Crude Oil
830am est – We’re seeing very sloppy and slow markets this morning – We had 830am news that barely moved the markets we trade most – We know that Monday’s are always a little slower to being, so we take our time, getting into the rhythm of the hour/day/week and we wait for the best […]
Continue reading May 16, 2011
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Trade the News Market Internals Update
***Looking Ahead*** – 11:00 (EU) Euro-Area Finance Ministers meet in Brussels – 11:00 (US) Fed to purchase $1-2B in TIPS – 11:30 (US) Treasury to sell $27B in 3-Month and $24B in 6-month Bills – 12:45 (CA) Bank of Canada Governor Carney speaks in Ottawa – 14:05 (CA) Bank of Canada Governor Carney Press Conference […]
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Broken Price Channels are great trading opportunities, here’s why
– Why keep a broken channel on the chart? o Do we care the # of touches for a channel? o Why not add a new trend line? – Entries for the Fast Track Method o We use LIMIT orders for the Fast Track o Prepare for the trade ahead of time, so you don’t […]
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Narrow Price Ranges on Gold and Crude to Open our Week of Day Trading
“When we have practiced good actions a while, they become easy; when they are easy, we take pleasure in them; when they please us, we do them frequently; and then, by frequency of act, they grow into a habit.” We open our week this morning with not much news over the weekend. President Obama extended […]
Continue reading May 13, 2011
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Price Magnets on Crude make easy Profit Targets
We have lots of 830am news, and we also see CAD news at 830am as well. We expect CAD news to have a larger impact on crude oil b/c of exports in Canada. – We are below the PHOD and PLOD, makes this an outside trading day – This tells us to look to sell […]
Continue reading May 13, 2011
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Trade the News Market Update
***Looking Ahead*** – 15:00 (AR) Argentina Apr Consumer Price Index M/M: 0.8%e v 0.8% prior; Y/Y: 9.6%e v 9.7% prior – 15:00 (AR) Argentina Apr Wholesale Price Index M/M: No est v 0.9% prior; Y/Y: No est v 12.9% prior – (CO) Colombia Monetary Policy Meeting Minutes 10:31 AM Market Internals update at 10:30ET – […]
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