The best way to daytrade FED day
Posted by Cire2222 on Apr 30, 2008
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This is the strategy I used today. It is one of the best ways to daytrade FED day, DO NOTHING. The days that the FOMC announcement comes are wild and exciting but placing a bet on the outcome is very dangerous and more of a gamble than anything else. The biggest problem with daytrading FOMC is that you can be right on direction but get wiggled out. The market will knee jerk in both directions taking out stops on longs and shorts, then it will continue a move. So even if your right on direction there is a good chance you will get stopped out of your play before capturing gains, Sure the market can knee jerk in your direction first and hit your target but do you want to place that bet? I don’t
Gold trade off
Posted by Cire2222 on Apr 29, 2008
The gold trade mentioned last night is now off. A move above 898.50 did not happen so our entry did not trigger, I would expect it to move to 850
Gold thoughts
Posted by Cire2222 on Apr 28, 2008
Day in review
Posted by Cire2222 on Apr 24, 2008
Today worked out great for the TB.com picks. The EUR/USD forex play I mentioned last night worked out excellent as the Euro sold off hard today. Gold continued to sell off as well. The stock market held the level we talked about yesterday so nothing to do in S&P’s for now. Im looking to take it Easy on friday and see how the week closes. I remain with the same outlook in all forex plays, short EUR/USD, long USD/CHF and GBP/JPY. Remain bearish on gold and remain on the sidelines in the stock market. :D hope you all got in on this forex action!!!
Not too much to do here
Posted by Cire2222 on Apr 23, 2008
Right now I don’t see too many swing trade entries. I think the GBP/JPY forex pair is still sitting at a decent long entry level and the EUR/USD may be primed for a sell off. Gold has continued to take a beating but right now is not the best time for an entry if your not already short. The S&P has no clear direction to me, see chart below for some thoughts on the stock market index.
My view of the YM’s bigger picture
Posted by MC on Apr 23, 2008
Here’s my view, we closed above that down channel pretty convincingly. As expected it’s stalling at overhead resistance on low volume, it’s time to base or pullback to test support most likely.
Now ideally we should get a test of the new support on the top down trend line.
Even better would be if it kind of hangs here for a few days and lets that channel line meet with the structure support below. There would be the king of entries if you want odds in your favor, double support for a long. 
Note the red arrow, that’s your signal if your less aggressive and maybe the smartest entry of all. The channels/trendlines break and fake out often but a legit breakout of range followed by a test of that same level is a prime entry. Let’s see if we can get that smarter entry on a long here. You could play it short in anticipation of that test though it could rally with no warning and now I would look for long setups.
Trade review
Posted by Cire2222 on Apr 22, 2008
We has a gap fill trade set up going into today, It worked out perfect for us for a $400 per contract gain and our target was right at todays lows. Here is a follow up chart to the original call.
GBP/JPY
Posted by Cire2222 on Apr 21, 2008
This is a wild forex pair that makes HUGE moves. I called a long play on this pair in the forum that was good for 600-800 pips, I think it’s giving a good long entry here for anyone not already in it, but be cautious on your position size because this pair moves BIG and fast.
Going for the Gap?
Posted by Cire2222 on Apr 21, 2008
If we can get a break of todays lows I think we should be able to go down and fill the gap left on thursday. Below you will see a chart on the S&P mini futures showing the gap.
VIX > TRIN
Posted by MC on Apr 18, 2008
Yesterday (17th) I pegged a prime entry on the YM’s opening pullback to 12,570 for a long in the fourms chat. Today I nailed the opening trade again…long on a pullback to 12,780-12,790 was the call at 9:34am.
Then using the chart below I picked the prime short entry which worked quite well. The main reason for this post isn’t to brag, but more about why I prefer VIX 1000% over TRIN myself, it shows way more detail in my usage.
Compared to TRIN in the same point.
So yes TRIN moved up but it still was range bound, where the VIX showed a formation which had broken out and gave a great signal.
Good trading and I’ll see you in the chat next week.
MC
