Rob’s Plan For Tomorrow After Today’s Superb Afternoon Of Trading

Welcome back, everyone. We are starting off with the DAX tonight since that was a viewer request. Every once in a while, I forget about the DAX. I don’t mean to overlook the DAX, but it is an important instrument that I have traded many times during the International Trading Competitions. That said, going into tomorrow, we have rising support just beneath the 11200 area in the DAX. We also have falling resistance above us in the 11468-11500 area. We are caught between a rock and a hard place in the kill zone. I would prefer to get us down below the rising support, which tomorrow it will be just shy of the 11250 area. I would definitely like to break through that area, leading to opportunities to much lower lows. That would be the favored trade. Otherwise, from a long side perspective, I’d like to see us get back above the 11470 area.

The Stock Index Futures this morning were actually pretty choppy which we will show in a moment. The strategy nonetheless, was looking for shorts below the speed lines and longs above the speed lines. In this case, it meant we were focusing on shorts. We kicked off this morning looking at instruments like the Russell. We backed off initially because these were chain sawing people to pieces. Fortunately, we didn’t get caught up in that. You can see the market was more or less sideways. We were making lower lows and lower highs, down trending. We were just whipping back and forth – some lower lows and higher highs. That is just a chainsaw and I heard that a lot of people got chain sawed today. Fortunately we didn’t. We waiting until we got into the afternoons and started seeing lower lows and higher highs which lead to some great afternoon trading. I focused on taking several short side trades with my Mentoring group this afternoon – that proved to be a very wise decision. Going into tomorrow, I’m going to be focusing on further opportunities. With the Russell, we had a pretty tight, kill zone day where we held the rising support versus the falling resistance – we are trapped right in there. Just like the DAX, I’d like to see us breakdown below today and yesterday’s lows in the 1207 area. Or I would like to see us breakout above the 1220 area for long side opportunities.

Gang, this is stuff that I am very proud of that I have continued to share with you in the free videos. A lot of people have done very well – even my institutional customers that I met in India, Dubai, and Hong Kong have given a lot of great feedback about the videos and how they have been helping them. I warned you all about the 2 bar break in the Euro. We were looking for it and I’ve been talking about it for a year, plus. We finally had my 2 bar break, I alerted you to it, we held the support over here, and that led to a wonderful charge up today of 1.36%. If you are a currency trader, you are definitely well informed to look for long side trades in the Euro.

How could you have not been informed about Crude Oil? I’ve been informing you about this one as well for the last year. We were looking for the two bar break and we finally got it in April. I alerted you all to this process, it is well documented through video. We pulled back to the support and the rest has been history. We have gone up well over 1,000+ ticks, almost 1,200 ticks, since that time – that is about $12,000 per contract.

A lot of great stuff here – these trades continue to be the opportunities that keep on giving. Remember Stock Index Futures and DAX, I want to continue focusing on shorts as long as we stay below the speed lines and avoid the whippy, choppy stuff like we saw this morning. Focus on the nice trends like we had yesterday morning and this afternoon. I fired off numerous trades yesterday morning in the trading room as well getting into those trends. You have a fantastic night. Let’s do it all over again tomorrow morning in the Live Trading Room. Otherwise, I will see you in tomorrow night’s videos. Take care everyone.

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