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Market Commentary October 16, 2009Well another great Friday in the markets has come and gone! We saw some great volume in all themarkets today, but chose to trade off two markets in particular; because of their perfect patterns. Wetook two trades this morning, going 2 for 2 in both the Gold futures and British Pound futures markets,for a total profit of +$485.00. I wish we could end every week on such a great note!(Scalping FuturesDay Trading Video)Let
’s review the trades we took…
 Our first trade of the morning came off the Gold futures (Symbol GC) which stayed in a tight range earlyon in the morning, keeping close to the 1050.0 price level. Once the U.S equities market opened though,it really started to rally, hitting an intra-day high of 1058.0 before the lunch hours set in for the U.Smarkets. While Gold began making its rally earlier this morning, we could tell buyer pressure wasincreasing, based off our pace of the tape indicator, and so we looked to capitalize to the long side,trading with the trend(Gold Futures Day Trading Video). At 9:50am EST, after a slight pullback in price, we finally saw a perfect breaker long set-up, which we were able to get filled on, at a basis of 1049.6.Once in the trade, our stochastics and momentum, via the P.O.T indicator, curled up and we were ableto take profits at all three of our targets of + 4 ticks (2 contracts) +8 ticks and +5 ticks, for a total of +21ticks on our first trade of the day!The second trade of the morning came off the British Pound futures (Symbol CL). Today we once againsaw the continuation of an uptrend in the British Pound futures. Granted, this trend was not as smoothas the past days, but going into the end of the U.S markets, the trend was to the upside. Early on during
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