The EURUSD finished strong today, both on the Euro and US sessions. After a very tumultous week, the EURUSD showed how resilient it it, posting mostly winners, a few losses here and there, too, but ultimately finishing strong and positive for the week. Today, during the US session alone, the EURUSD was able to get + 120 pips. Making key level adjustments, working around 0’s and 5’s as we always do, made a big difference today, keeping the final trade of the session alive for some extra pips.
Today’s EURUSD Session; Tradestation makes + 120 Pips
EURUSD MT4; Nearly the Same, + 100 pips. The final trade set up a bit differently than the TS chart shows (remember, decentralized markets mean different quotes) and we didn’t have the chance to make the same key level adjustment in this particular case.
The Russell eMini charged back this week with a 5 session winning streak, picking up +14 points for the week. The best trades come after the worst. Last week as you know, was a very difficult week. We’ve managed to make a lot of headway though, this week, on our way to new profit levels. After today’s session, where we won two quick trades for + 5.3 points and were done with our trading inside of 20 minutes, we are exactly 10 points away from a new equity high breakout!
Further news; Two new tradeplans we’re published on the SST Owner’s Club website this week. Suncor (SU) 195 minute swingtrade plan, and a GBPUSD 9 pip Momentum Range bar which also was published on our new SST FX Owner’s Club website.
In fact, today a great SU trade just finished with major gains. The stock trade itself gained a total of 8.42 on 4 positions; Two for the reversal trade and two more with the Add-on trade.
Suncor Trade; March 47 puts were 1.22 at the time the reversal entry was triggered at 46.82. The first option position was sold at the full stock target, 45.17 for 2.31, an 89% return. The 2nd position was sold when the trailing stop was hit today at 43.42. The option was sold for 3.63, a +2.41 profit and 147% return!
For the Add-on, we purchased March 45 puts for 2.18, at the time that trade’s entry was hit by the stock at 44.84. The stock hit its full target at 42.89. The trailer came off a bit higher at the same price our reversal trailer came off, at 43.42. Of course, like the reversal trade and its Mar 47 puts, this add-on option trade also had large percentage gains.
This is a real life example of how powerful the SST can be, using stock swingtrade setups to signal slightly in the money options trades. Straight call and put trading, as taught by Coach Mike and Coach Bob in their Options Live Training. Very simple.