This trade in the bonds was taken at 9:50AM Eastern time, and went to 16 tic profit target in a nice move up today. My trading plan had me increasing my profit target based on the volatility of the market today.
In case you didn't hear, the Federal Government stepped in to save Freddie Mac, and Fanny Mae on Sunday. This had the effect of the DOW opening up 300 points this morning, very similar to the open of last week. This also came during the week of Patriot Day and the September 11th anniversary here in America.
What does all this mean? Well, personally, I do not trade on my opinion, but what the charts are showing me what they want to do. This morning early showed the market really wanting to try to close the gap in bonds, and possibly stocks.
With this knowledge in the market coming into my trade, then I looked for an opportunity to trade based on what the chart was showing me. This came at 9:50AM Eastern time in the bonds. My entry was at 118^17.5 and a Exit of 118^25.5 or 16 tics per contract traded or $250 per contract.
All in all, it was a good start of the week for me, and trading my plan allowed me to WIN more than I did not win on the previous trade.
Good Trades,
David AKA Tiger
In case you didn't hear, the Federal Government stepped in to save Freddie Mac, and Fanny Mae on Sunday. This had the effect of the DOW opening up 300 points this morning, very similar to the open of last week. This also came during the week of Patriot Day and the September 11th anniversary here in America.
What does all this mean? Well, personally, I do not trade on my opinion, but what the charts are showing me what they want to do. This morning early showed the market really wanting to try to close the gap in bonds, and possibly stocks.
With this knowledge in the market coming into my trade, then I looked for an opportunity to trade based on what the chart was showing me. This came at 9:50AM Eastern time in the bonds. My entry was at 118^17.5 and a Exit of 118^25.5 or 16 tics per contract traded or $250 per contract.
All in all, it was a good start of the week for me, and trading my plan allowed me to WIN more than I did not win on the previous trade.
Good Trades,
David AKA Tiger
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