Nice Market Moves Right On Queue. So What’s Next For Our Trading Strategy?

Welcome back everyone! Hope you’re having a wild and wacky Wednesday. Let’s take a look here at a couple different instruments and our trading strategy for them. Let’s follow up on a couple of instruments, we’ll look at a couple that we’re looking for movement from.

Trading Strategy For Gold, Bonds, And The Euro

First thing’s first, you’ll recall Gold. Gold, I mentioned over the weekend, is an instrument I expected to go ahead and have wide range activity. We’re starting to see that wide range activity since that video that I did for you over the weekend. We’ve already seen about 400 ticks of movement to the downside here. I suspect we’re going to be seeing a lot more movement in the very near future. It’s going to be exciting to keep on top of that instrument as we go forward here.

Bonds, I talked to you about this one too gang. We had a very specific trading strategy, same strategy we’ve implemented many times in past with key support resistance levels. Where you push through, pull back, take back off again then we’re looking for my next target. Well, we hit that target then we push back, pull back up and close above the speed lines. I told you in last night’s video once again that as far as I’m concerned it’s long side trades on this thing unless we get back down below the 136 28 level. Here we are, taking off. We’re already now half way to my next objective here, which is the 140 area. Great stuff for all of you bond traders and congratulations to all those in my student family that are enjoying this run right now.

As we look to the Euro, It’s still one that is an open opportunity. This one right here at this 1.36 level is very important to go ahead and take a look at. There’s a lot of opportunity. Just remember, as we saw today when you break down below this 136 resistance level there’s support level that we tend not to actually hold those breaks in the US session. Breaking round number supports, breaking up through round number resistance often is reversed. So as we’re going ahead and taking a look at this, we’re really looking at this play now going into the European overnight session and into tomorrow’s session with the US market. I want to open up tomorrow morning under this 136 and then look for sell side opportunities down to the 135 and below. We’ve still got some great opportunities with that one and as I said you’ll probably see me do a lot more Euro trading once we can make that happen. So that could literally be tomorrow, potentially if we don’t just bounce off here and go back up. If we do then I’m going to back off and if we’re back down in this area and making sell side trades, probably going to be doing some Euro trading as well.

Great stuff today, great trading. Looking forward to seeing you guys in the Live Trading Room tomorrow morning or in tomorrow night’s videos to recap more of this great information and how it’s playing out. Take care everyone!

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