EURUSD (Forex) Finally Opens up on the Heals of ECB Comments; + 102 pips in a Single Trade

  • EURUSD 5 Minute Daytrade Chart Near Record Profit Levels Again
  • SST Pro Puts us on the Right Side of the Significant Moves
  • This Morning, +102 pips in a Single Trade
  • Super Consistent; See Trades on this Day Exactly One Year Ago

Forex Daytraders have had to be patient this year.  We have seen our favorite daytrade markets really contract and trading ranges have not really been that great for daytrading forex.  Our tried and true tradeplan for the EURUSD 5 minute chart has managed to hold its own this year, despite the challenge of low range price action.  We have found that our aggressive breakeven trade maneuver that we use as part of our plan has kept us close to record profit levels throughout the year and as we do pick up winners, we are steadily growing the equity curve, and hitting new equity highs on a steady basis.

Yesterday (Aug 2) we finally grabbed the type of trade that we were accustomed to last year.  The SST has the uncanny ability of putting us on the right side of big moves.  Yesterday was no different.  As comments were coming out of the ECB, mixed in with some surprising US economic reports, there were some large moves both to the upside and then to the downside.  Check out the trade we took on the EURUSD today in the traderoom.

EURUSD; We grabbed the short trade which occurred shortly after our morning start time and grabbed +102 pips.  We used to see this kind of trade quite often last year (see chart from a year ago below).  This year we’ve been in “grind it out” mode.  hopefully though, we will see the daily trading range begin to expand as we head into the last part of the year, with the US elections promising to provide firepower to price action.  You’ll need something like the SST Pro to be sure you are on the right side of the major moves.

Some of our European Members have been trading the EURUSD a bit earlier and have enjoyed some consistent nice moves as well.  Notice how the SST signalled in the long trades that occurred just before the shorts that we took.

Now check out the trades we took on the EURUSD exactly one year ago , on August 2, 2011.  Notice how the SST is behaving the same way today as it did a year ago.  This trade was the beginning of a very profitable run that had us finishing the year up over +2000 pips, using the exact same tradeplan we use today during the early part of the US Session.

Could we get a repeat performance to finish 2012 with the EURUSD?  With the consistency that we’ve seen with the SST Pro with all our best daytrading markets, my bet would be yes.  The EURUSD could be waking up again as we move into the most volatile part of the year.  Don’t be afraid!  A volatile market means big profits for us as the SST Pro continues to put us on the right side of the best moves and EURUSD SST Traders are going to be big beneficiaries.

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