All 3 Confirmations Line up in Euro – Trade Setups 6.23.16

In this mornings brief to our traders my focus was on potential trade scenarios in Crude Oil, Euro, and Yen.  The Euro was the one that ended up giving us the strongest signal to trade off of.

As I have mentioned many times in the past, the markets that have the strongest confirmations are the ones that I focus my energy on.  Confirmations for us come in forms of moving averages, MACD or Stochastic Divergence, and our number one confirmation is when our short term beacon strategy lines up with our 60 minute beacon levels.

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Confirmations and Patience Pays in Crude – Trade Setups 6.22.16

In this mornings brief to our traders I talked about Crude Oil as a market of choice for trading today.  The main reason was because of our latest Beacon strategy lines, but also because today was the EIA Data for Crude and that typically creates volatility.

The rest of the major markets were waiting for the Brexit or Remain vote, so this contributed to our focus on Crude Oil.  

In our member area and on Twitter I posted the 48.35 area as key support for the bulls to hold.  48.35 is our 60 minute level that we do not trade directly off of.  That level is our bias level.  We then use our short term strategy to give us a trade setup.

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Why You Should Trade More Than One Market – Trade Setups 6.21.16

In this morning’s brief to our traders I discussed the strong possibility of an equities market that remained sideways between our indicator’s 60 minute pink and orange levels (see chart).  ES & NQ were coming up just shy of testing our levels, but the YM (Dow) had reached our pink resistance level, then triggered a short on our strategy.  

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Trading a Strategy Pays… Opinions Don’t – Trade Setups 6.14.16

This morning we were bullish the ES coming into the open, but were unable to execute a long trade. I’ve said many times before, I am a risk manager more than a trader. I can’t react off of every bias based on where the market could go. I have to have a strategy in place to execute my bias. One of the hardest things to do as a trader is to watch the market go your way when you are not in the trade.

In this business you will catch some trades and you will miss some trades, but if you don’t have a strategy, then you are closer to exiting the business than growing in the business. Because we were patient and followed our strategy we got a pullback to buy in the Dow @YM. It wasn’t the market we wanted to be in because we mostly trade ES, but since the YM retraced further to our support area and the risk made sense, that was the trade we had the option to take.

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Anthony’s Big Picture View of the S&P Right Now – Trade Setups 6.13.16

Flexibility.

As a trader it is important to have a bias, but not an opinion. This morning I was just about as bullish as I could be because of the action I saw in the tape. Opening range was the low of the day in the NQ YM ES and typically on Monday’s we are in one way markets. The ES also came near the 20 day and 50 day moving averages without testing them.

A lot of times when you come near an important area and it doesn’t test, that is usually a very strong indication that we may rip off of that area. I say that because a lot of times the market does not let you get in where you want to get in and when nobody wants to chase up (or down) they eventually force everyone’s hands and ultimately pay up. Going forward I will be watching the 50 day moving average very closely. I believe it is a very good place to watch for trend change or for trends to remain in tact.

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Identifying Where Traders Could Be Wrong in Gold – Trade Setups 6.10.16

I talked (and tweeted) about Gold no longer correlating against the Dollar, and the fact that Gold rallied with the Dollar indicated a possible unwind of the recent correlation. Typically when markets correlate against each other and then suddenly reverse and work together, that causes a strong move by the market that has stopped correlating.

In this case, the Dollar popped, Gold down ticked slightly, then Gold turned higher.  Right at that moment I knew to either be on the long train in Gold, or don’t look at selling rallies until the 1278-1280.60 area (as seen in my tweet below).

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Strong Confirmations to Short Euro – Trade Setups 6.7.16

We constantly talk about the importance of preparation and how now, more than ever, it has become essential for day traders.  I’ve talked about the first decade of my career being all about the E-mini S&P, However, over the past 7 years I have branched off into other markets because there has been many days where the ES is too slow or there are no confirmations to trade.

Now that I’ve made the commitment to trading multiple markets it gives me the ability to go where the strongest confirmations are.  Today that happened to be the Euro.  The Euro kept knocking on the door of resistance while the Dollar was knocking on the door of support.  When those two markets are hitting key areas at the same time, that is very strong confirmation for us.

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