Futures Morning Trading

I recognized a trend continuation pattern on ZG (Gold) this morning. I entered the trade which was immediately confirmed by my momentum indicator, so my goal then became to hold until my momo indicator signaled that the move was over. There were two runs (legs) to the move which lasted one hour and forty five minutes. Total take on the trade was 85 ticks (+$850 on one contract positions). Very nice way to start the day.

My attention then turned to the indicates (e-minis) where I found momentum triggers but not a large range (low to high) for the YM. We did get +50 range for the YM thanks to the move during the overnight globex session, but we were still below 100. I took the signals since my rule is to take cautious momentum signals if we have a +50 but -100 tick range in the YM. I took two YM signals and 2 ER2 signals for the morning session. While I was successful in scoring positive ticks on all my trades, the runs were not awe inspiring.

Volatility dried up as we approached the doldrums, so I am hanging it up until the afternoon session.

My morning futures summary is below:

YM: +20 ticks (equal to +$100 per one contract position)
ER2: +12 ticks (equal to +$120 per one contract position)
ZG: +85 ticks (equal to +$850 per one contract position)