Day Trading for Everyone

Monday, June 17th, marks the beginning of the “Day Trading for Everyone” class running through until June 21st. “Day Trading for Everyone” or as I like to call it, “Stuff I Wish I Knew When I Started Trading” is designed to help new or struggling traders get a foothold in trading. I’ll be hosting the general trading and Futures classes, Omar Eltoukhy will be doing classes on Forex and Richard Friesen will have classes on Trading Psychology. Richard is the brains behind the free Personal Trading Bias Assessment!

The best part is the week-long series is only $35! So feel free to pass the offer along to anyone you think might benefit. Classes start Monday at 9:30 (ET) sharp!

Enjoy this week’s issue,
Erich

Papertrades

Currencies Market Overview

Canadian Dollar
If the September Canadian Dollar opens at or above 9775
SELL 2 September Canadian Dollar at 9770 (stop)(day)
If filled: Exit Stop: 9850 (stop)(GTC)
Approximate Risk: $800 per contract
Profit Target: 9650 (limit)(GTC)
Approximate Profit: $1200 per contract
Degree of Risk: Moderate to HIGH

Euro FX
CONTINUATION of Long 2 September EuroFX at 13330 (June 12)
Exit Stop: 13170 (stop)(GTC)
Approximate Risk: $2000 per contract
Profit Target: 13650 (limit)(GTC)
Approximate Profit: $4000 per contract
Degree of Risk: Moderate

Energies Market Overview – FLAT

Financials/Indices Market Overview – FLAT

Grains Market Overview

Canola
Watch List – I was waiting for the Buyers and they showed up on cue last Friday putting support back into the market. A modest bounce followed by resistance should be a good SELL.

Corn
CONTINUATION of Long 2 July Corn at 673 (June 7)
Exit Stop: 640 (stop)(GTC)
Approximate Risk: $1650 per contract
Profit Target: 711 (limit)(GTC)
Approximate Profit: $1900 per contract
Degree of Risk: HIGH

Meats Market Overview

Live Cattle
Watch List – There’s a pennant style formation building in Live Cattle. It’s not much to trade yet, but could develop into something this week.

Metals Market Overview

Gold
CONTINUATION of Long 2 August Gold at 1405.0 (May 22)
Exit Stop: 1335.0 (stop)(GTC)
Approximate Risk: $7000 per contract
Profit Target: 1475.0 (limit)(GTC)
Approximate Profit: $7000 per contract
Degree of Risk: HIGH

Softs Market Overview – FLAT

The post Day Trading for Everyone – Big Weekend Edition appeared first on Support and Resistance Trading.