Fun With Futures
We’ve got movement people – and that means we get to play. Excellent setups across the board but if you like trading the futures then this is your lucky day. But let’s first catch up on the situation over in the equities pit of our lair.
Once again it’s the YM that allowed us to get positioned. No setup on the spoos or the NQ but we did trigger an inside day long entry and as we haven’t moved much beyond you may still get a chance to jump into the fray.
The E-Mini took off with tires peeling and it’s now at its daily NLBL which apparently is exerting some level of resistance. If we push beyond it either today or early next week I expect things to accelerate. Sorry bears!
The greenback gave us a nice speculative short entry yesterday (if you were a sub – ahem) and so far it’s doing very well. My target area for this one is around 80.5 as it’ll probably hit support near that rising 25-day SMA.
Gold – if you were sub (yes, I know you’re sick of hearing but alas) then you enjoyed a speculative entry near the lower 100-day BB yesterday. So far so good but for you leeches this may be your lucky day as it’s painting an absolutely delicious inside period today. If you don’t know how to play this one then look no further than our handy cheat sheet. Also while we’re at it – taking entries is a lot less important than money management so I strongly suggest you kick the tires on our kick ass futures risk calculator.
I really think you’re going to love this thing – it does a lot of the heavy lifting for you. If you don’t know what risk (or R) means then point your browser to this pertinent write up which explains some crucial key concept you should familiarize yourselves with. And while we’re at it – I also put together an even cooler risk calc for you Forex aficionados – please go check it out. I would enjoy some pertinent feedback – you can reach me at admin@.
Alright, we’ve got setups people – let’s rock & roll:
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And that’s it for this week. Thanks for playing along – you should be very nicely in the green now and deserve to take it easy and crack open your favorite chilled beverage, preferably containing malted barley, hops, yeast. See you all Monday morning! Prost!!
I leave you with some cool tunes…