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September Euro Daily Numbers & Trade Ideas for 8/30/10


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This report was sent to subscribers on 8/28/10 11:50 p.m. Chicago time to be used for trading on 8/30/10. Everything is done by Howard Tyllas, no program or black box.

September Euro

After the close recap on 8/30/10: My resistance was 127.80, .14 from the actual high, and my support was 126.50, only .08 from the actual low.

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127.80                                Resistance

-------------127.15          Pivot

126.50                                Support

 

  

Trend             

5 day chart ...... ... Up (last week same day)                                

Daily chart   .........Sideways               

Weekly chart ........Down   134.24 is the 200 day MA        

Monthly chart...     Down    

 ATR 1.30                Balanced 42% 

I continue to say "Recent high is resistance, gap at 124.81 supports".

In my daily Euro numbers on Friday; my resistance was .16 from the actual high; my support was .25 from the actual low.          

Three main drivers in the FX are economics, earnings, and politics; I will stick with the charts and my numbers.

I will leave the fundamentals to you and stick with the technical's when trading the currencies.

September Euro for 8/30/10:

Euro: Spot on numbers! Even though it looks like there is bottoming action on the chart, more is needed. I want to sell this market if it can rally near 129, but I want to continue to day trade without bias using the numbers and risk .35 on any trade idea.

New Subscribers: Keep in mind that these are day trading numbers. They are equally to be used for swing trading and longer term trading time frames on the day I want to enter or exit my position. The charts are to be used for overall trade location looking for areas of price discovery of support and resistance levels. When the market does go to the charts longer term support or resistance levels such as bracket lines or longer term trend lines, I use my numbers on that day to enter or exit my position. The numbers do not tell you what to do, you are in control of that, but they will give you a framework to try and buy or sell at the best price for that day. For me it gives me a strategy and the best way I have found to discover the best price for entering or exiting my trade ideas.

If I have the exact numbers for the actual high and low of the day 12 hours in advance, the question has always been, how do I trade it? That is what I best describe in my numbers explanation. Any intuitiveness or nuances I trade, I would keep a journal to see if it is worthwhile overriding my plan. I rarely go against my explanation

 September Euro for 8/27/10:

Euro: Spot on support and accurate resistance numbers. Market showing some bottoming action but not enough to warrant going into the weekend long, but if the market closed below 125.87 I would have no problem being short and taking it into Sunday night. I have the same thoughts of trading the numbers without bias and risk .35 on any trade idea.

September Euro for 8/26/10:

Euro: Spot on numbers! I continue to want to trade without bias and risk .35 on a trade idea. When the numbers are within .20 from the high or low, risking .35 is enough risk for me. Stops should always be above resistance number, or below the support number (even if the number is the pivot) to be proven wrong. Maybe more or less room (risk on the stop) is up to you and does what works best for you.

Results for 8/26/10 were:

Soybeans: My resistance was .01 1/2 from the actual high; my support was .02 1/4 from the actual low.

Corn:    My resistance was .02 1/4 from the actual high; my support was .01 1/2 from the actual low. 

Crude Oil: My resistance was .50 from the actual high; my support was .56 from the actual low.

S&P:    My resistance was 4.00 from the actual high; my support was 5.75 from the actual low. 

Gold:     My resistance was $3.40 from the actual high; my support was $2.30 from the actual low. 

Euro:    My resistance was .34 from the actual high; my support was .08 from the actual low. 

Bonds: My resistance was 5 from the actual high; my support was the EXACT actual low. 

Nat. Gas: My resistance was .025 from the actual high; my support was .015 from the actual low.   

Cattle:  My resistance was .15 from the actual high; my support was .10 from the actual low. 

September Euro for 8/25/10:

Euro: Helpful numbers. Oversold, but I continue to want to trade without bias risking .35 on a trade idea.

Results for 8/25/10 were:

Soybeans: My resistance was .03 1/4 from the actual high; my support was .06 from the actual low.

Corn:    My resistance was .02 from the actual high; my support was .04 1/2 from the actual low. 

Crude Oil: My resistance was .13 from the actual high; my support was .41 from the actual low.

S&P:    My resistance was .50 from the actual high; my support was .75 from the actual low. 

Gold:     My resistance was $3.80 from the actual high; my support was $0.60 from the actual low. 

Euro:    My resistance was .03 from the actual high; my support was .20 from the actual low. 

Bonds: My resistance was 24 from the actual high; my support was the EXACT actual low. 

Nat. Gas: My resistance was .002 from the actual high; my support was .047 from the actual low.   

Cattle:  My resistance was .32 from the actual high; my support was .25 from the actual low. 

September Euro for 8/24/10:

Euro: Accurate support and helpful resistance. I have the same thoughts and numbers as yesterday.

September Euro for 8/23/10:

Euro: Spot on numbers. My idea to trade without bias was also spot on. Chart is breaking down but in extremely oversold condition, so I want to continue to trade without bias risking .35 on a stop, and has been enough room to see if the number will hold

Results for 8/23/10 were:

Soybeans: My resistance was .04 1/4 from the actual high; my support was .00 3/4 from the actual low.

Corn:    My resistance was .01 1/4 from the actual high; my support was .00 3/4 from the actual low. 

Crude Oil: My resistance was .38 from the actual high; my support was .46 from the actual low.

S&P:    My resistance was 1.75 from the actual high; my support was 3.25 from the actual low. 

Gold:     My resistance was $4.20 from the actual high; my support was $3.90 from the actual low. 

Euro:    My resistance was .51 from the actual high; my support was .33 from the actual low. 

Bonds: My resistance was 8 from the actual high; my support was 13 from the actual low. 

Nat. Gas: My resistance was .012 from the actual high; my support was .004 from the actual low.   

Cattle:  My resistance was the EXACT actual high; my support was .02 from the actual low. 

September Euro for 8/20/10:

Euro: accurate numbers. I want to continue to trade without bias and risk .35 using a stop to protect.

September Euro for 8/19/10:

Euro: Accurate support but not helpful resistance. I want to continue to trade without bias and risk .35 using a stop to protect. I have the same thoughts and numbers as yesterday.

 Results for 8/19/10 were:

Soybeans: My resistance was .00 1/4 from the actual high; my support was .04 1/4 from the actual low.

Corn:    My resistance was .01 1/4 from the actual high; my support was .03 from the actual low. 

Crude Oil: My resistance was .53 from the actual high; my support was .13 from the actual low.

S&P:    My resistance was 3.00 from the actual high; my support was 2.00 from the actual low. 

Gold:     My resistance was $5.00 from the actual high; my support was $4.50 from the actual low. 

Euro:    My resistance was .44 from the actual high; my support was .38 from the actual low. 

Bonds: My resistance was 5 from the actual high; my support was 6 from the actual low. 

Nat. Gas: My resistance was .001 from the actual high; my support was .001 from the actual low.   

Cattle:  My resistance was .07 from the actual high; my support was .27 from the actual low. 

September Euro 8/18/10:

Euro: Spot on numbers! Trading without bias always does well when the numbers are spot on. It also provides a spot on place to enter or exit a swing trade no matter bull or bear if you were patient to wait using the numbers. I want to continue to trade without bias and risk .40 on a trade idea.

September Euro for 8/17/10:

Euro: Spot on support and accurate resistance. I still prefer to sell resistance but would trade the numbers without bias using a .40 stop on any idea to protect.

Want to know what I think for tomorrow and going forward?

The 9 markets now covered daily are Soybeans, Corn, Crude oil, S&P, Euro FX, 30 yr TBond, Gold, and  Natural Gas and Cattle

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           May Your Next Trade Be The Best                          

                     Howard Tyllas            

   Tel.1-312-573-2699, 1-312-823-9189

Disclaimer:     No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.



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About the author


Currently a member of The Chicago Board of Trade (CBOT) and registered with the Commodity Futures Trading Commission (CFTC) as a floor broker and as a Commodity Trading Advisor (CTA) and a member of the National Futures Association (NFA). I started my career in 1973 on The Chicago Mercantile Exchange trading floor working for a major firm. Three years later I purchased my first membership and began what would become a thirteen-year commitment to trading soybeans for my own account on the trading floor. I began trading options on futures since their inception in Chicago about twenty years ago; doing so, I traded in various pits on the trade floor. 

One of the major lessons that I have learned from all my years of experience is that knowledge is an important condition for the possibility of successful trading. Knowledge gives you a better chance to succeed by eliminating obvious mistakes: with it, you will never find yourself shamefully uttering, “If I only took the time to learn”.  
         
I want to save you from such regrets by teaching you where the danger is, what it looks like, and how to go around it, while still keeping an eye on your destination of success. In short, I will teach you how to combat error with knowledge.
       
My mission is to educate you, giving you my 39 years experience, wisdom, and knowledge from which you will then be able to use and benefit from at will.

I know what will help you make money, and I know what will insure failure. Use my services and prevent, “If I only knew”.  
  

Howard Tyllas

Futures trading involves the substantial risk of loss and may not be suitable for all investors. Past performance does not mean future results.

If you have a question, or comment, email me dailynumbers@futuresflight.com

Visit my website www.futuresflight.com

                                                 

                        

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