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September Euro Daily Numbers & Trade Ideas for 9/1/10


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This report was sent to subscribers on 8/31/10 4:23 p.m. Chicago time to be used for trading on 9/1/10. Everything is done by Howard Tyllas, no program or black box.

September Euro

After the close recap on 9/1/10: My resistance was 128.34, .22 from the actual high, and my pivot acted as support and was 126.77, just .15 from the actual low

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128.34                                Resistance

127.66                           

-------------126.77          Pivot

125.87

124.81 FG

        Use the same numbers as used on 8/31/10

Trend             

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

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

Weekly chart ........Down  

Monthly chart...     Down    134.02 is the 200 day MA        

 ATR 1.27                Oversold 23%  

 

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

In my daily Euro numbers on Tuesday; my resistance was .23 from the actual high; my support was .36 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 9/1/10:

Euro: Spot on resistance and accurate support. My idea to take the sell signal only was a good one, and the stop was never threatened. Today I want to trade without bias and risk the same .35 on any trade idea 

 September Euro for 8/31/10

Euro: Spot on numbers! I wanted to sell near 129 which never came to be, but aggressive long term shorts as well as day traders taking the sell at resistance proved to be a good trade idea. The support was a perfect place to take profits being off only .08 from the actual low. I want to take the sell signals only today and risk .35 using a buy stop to protect

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

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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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