THT Trade Update for Tuesday April 4th 2006

Erich's Update for Tuesday, April 4, 2006
Hot off the commodity presses to you! "Don't let the fear of the time it will take to accomplish something stand in the way of your doing it. The time will pass anyway; we might just as well put that passing time to the best possible use." ~Earl Nightingale


1: CURRENCIES

June Australian Dollar ADM6
Do we dare sell the AD again tomorrow? This market handed us a serious thrashing last week, but today we get another sell signal as rates bounce off resistance near the 20 day moving average and RSI hooks. Technically this market is still in a downtrend with all indications that the recent rally was a pullback.

*SELL June Australian Dollar at 7127
*Exit Stop: 7163
*Approximate Risk: $360 per contract
*Profit Target: 6903
*Potential Profit: $2240 per contract
*RRR: 6:1
*Degree of Risk: HIGH

June British Pound BPM6
A big bounce in the Pound today. Did you notice that it came off of trendline support? This market is still stuck in a sideways range so I'm not trading it right now.

June Canadian Dollar CDM6
Right idea in the Canadian Dollar (again) but the market gapped our entry (again) voiding our trade (again). Nothing new here tomorrow (again).

June EuroFX ECM6
Like the Pound, the EC is stuck in a range; however after today's bounce I'd say we're looking for something higher tomorrow.

June Japanese Yen JYM6
A gap lower in the Yen today as the market moved slightly lower, but closed high. Those gaps are scary, otherwise I'd be looking to sell tomorrow below support at 8525.

June Mexican Peso MPM6
It looks like I made the Peso trade a touch too tight as the market whipped us out of our trade today. I will try it again tomorrow, but give it a little bit more room. Hopefully we'll get a better result.

*SELL June Mexican Peso at 90.875 *Exit Stop: 91.525 *Approximate Risk: $325 per contract *Profit Target: 88.525 *Potential Profit: $1175 per contract *RRR: 3 1/2:1 *Degree of Risk: Moderate to HIGH

June Swiss Franc SFM6
A gap and fade in the Swiss Franc as well. Nothing for me here tomorrow.

June US Dollar Index DXM6
I'm not too happy about the weak trend and choppy trading we have in the USD right now, but the support at 8920 is a monster, so I'll look at selling a breakout through here tomorrow.

*SELL June US Dollar Index at 8913
*Exit Stop: 8953
*Approximate Risk: $400 per contract
*Profit Target: 8757
*Potential Profit: $775 per contract
*RRR: 3 1/2:1
*Degree of Risk: HIGH


To get the rest of the markets BEFORE the OPEN in all the major commodity sectors, analyzed in detail with entries, exits, stops and trade management day by day...go to http://www.supportandresistance.com/subscribe.html

Same applies to Tom's Trades, a sampling of which you can read below:

"Tom's Trades" for Tuesday, April 4, 2006

1: JUNE 30 YEAR T BOND
I sold -27 and was stopped at B/E. I then bought -25 based on the action, or lack thereof more accurately, at -22/-23. I got stopped out at B/E on this one too. I looked at selling the next break below -28 but passed based on the previous inability to break -24. Tried to buy -25 but couldn't get it. I bought -03 and got stopped at B/E again. Bought -03 and exited at -06 for $93. I then sold -07 on the failure to break -08 and exited at -03 for $125. Tough day to say the least.

Today closed at 109-01 so we'll focus on 109-16 and 109-00. After a first trade at -00 or -16 we are free to pursue quarters.


2: DECEMBER 06 EURODOLLAR
My hands are tied for the moment.


3: JUNE CANADIAN DOLLAR
We bought 8544 and exited at 8559 for $150. We'll stay on the TT weekend numbers for tomorrow.


4: JUNE SWISS FRANC
We opened up with a buy at 7704 which we exited 7728 on a "once broken" play at 7730. We made off with $300. Same TT weekend numbers for tomorrow.


5: JUNE MINI RUSSELL 2000
We began selling the break of 770 at 769.50 and exited at 768.10 on a "once broken" for $140. From there we climbed to what turned out to be the day's high at 775. I sold 769.40 and exited at 769.80 losing $40. I came right back and sold 769.60 and exited "OB" at 765.10 for $450. All the numbers for tomorrow plus we add 768.

5: JUNE MINI $5 DOW

I bought 11226 and exited at 11283 for $285. I then bought 11275 and exited at 11300 for $125. I sold 11296 and exited at 11221 for $375. A daily total of $785 makes it one of the better DOW days in a while and very welcome given the Bond fiasco today. All the numbers from yesterday


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