Trading Followed Through As Planned, Now Come See Us Tomorrow For More Excitement!

Welcome back. Great stuff today! Thank you very much for all the great feedback that we had today and I’m looking forward to tomorrow morning. Tomorrow morning we are going to have part two of our special two day event here. I’m looking forward to that. That will be a must see!

As we go into tomorrow first (and then maybe recap from today) the EURO went ahead and broke down below that 13880 area that I was sharing with you in last night’s videos and then in the trading environment this morning. We did break down below the 13880 and once we finally did we did reach my target.

GOLD reached the target that I gave from the other day. We broke down through the speed lines and were looking for a move back to the 20 day moving average. This morning shortly after the open we were at the 20 day moving average and people were looking at going short. My concern about this that any sort of quick move to the downside could easily be reversed. That is what happened earlier this morning if you go back to the 8:30-9:30 Central time frame. You will see that we got down and pushed through the 20 period moving average here (on my screen at 1:25) just by about 20 ticks or so and then immediately shot back up sixty ticks. If you recall, the stop loss for the average gold trader is 12-20 ticks and it moved back 60 ticks. It was a lesson learned and a very wise decision to avoid it this morning. Much like the EURO, obviously after the FOMC today, GOLD and the EURO picked up in intensity to the sell side. We will talk more about that in a few minutes on how we traded that.

As far as CRUDE OIL it was kind of a dead story today. I am not really doing anything with CRUDE OIL in this range right here (on my screen at 2:04). It is kind of a dead trader zone and just whipping back and forth so no interest there.

With the stock index futures going into tomorrow all of you are going to have the opportunity to be with me one more time. We set these days up last year and realized that today was an FOMC a day after the big move. Yesterday we did three trades in the Live Trading Room and today there was one trade right at the open and then it was dead city as we walked in the door with the choppy markets. This is what we were faced with this morning (on my screen at 2:42). Then it kind of slowed down there until after the FOMC. We had the two minute and five minute were down. The fifteen minute was sideways and the hourly and daily were up. So, it was just a mixed bag of nuts chopping up retail traders.

What We Will Be Looking At Tomorrow During Our Live Trading Room

Going back to the stock index futures. Tomorrow you will see that I’ll be focusing very closely on the fact of where we are in relation to the speed lines here. Right now we are currently sitting at them on all four stock index futures. The RUSSELL throughout the day today, you’ll recall, remained weak while the other three were trying to go up. I mentioned to watch out for that because of the three to the one strategy that I taught all of you. The market tends to follow that one and sure enough it didn’t disappoint. The other three markets followed the RUSSELL back to the downside here.

As we are going into tomorrow we are right at that apex of the daily speed lines. Are we going to bounce of them and start to push back up? Or are we going to push deeper into sell side territory below the speed lines?

If we push below those speed lines then you will be watching me do live short side trades mostly. If we get back up and start pushing back to the upside you’ll probably be watching me do live long side trades.

As we looked at the afternoon, if you recall, the strategy for this afternoon was to go ahead and wait for half an hour or more and then look to see if we broke down into a trading move. That was basically for the stock index futures. You will see what happened here (on my screen at 4:23), we actually did exactly that. At one o’clock the news came out and the market did its typical whipsaws back and forth here and then right around two o’clock really started to get much more aggressive. Even shortly after the half hour mark you will see that we started to go sell side with the indicators. If fact, you can see it here on the five minute and fifteen minute chart as well (on my screen at 4:54). If you look here we have really great sell side indicators and, of course, we made that big announcement to all of you about the indicators this morning. Pretty cool. You will be hearing a lot more about that tomorrow morning for the other platforms. You’re not going to want to miss that.

Going back to this, sure enough, we waited till after that half hour point came to pass and then the market really had a nice sell off and that is where I was focusing on my shorting here going into the afternoon. That really helped make the day and the plan kind of all came together that we gave you this morning. Make sure you’re there with me tomorrow morning so you can learn a great deal more. Come see how we respond to these different markets and keep up on the latest and greatest things.

You can register to join us tomorrow through this link:

Thanks again for all the great comments again, gang. We will see you bright and early tomorrow morning and do it all over again. Hope you all have a great night. Take care!

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