820am EST
- Dollar Index Futures trading sideways just below the big round number of 82.00
- Looking for a DX-Pattern Long on Euro, but the highs on the dollar have broken, so we wait for the price to reverse to enter the long euro trade
- Pace of tape indicator < 100 (be careful)
- Average true range on the dollar index trading at its lows for the past week
o Tells us the range is very narrow, which means it will be more difficult to earn profits.
o The dollar leads the markets, so we wait for the dollar to move FIRST.
900am EST
- We took our first losing trade on the new DX-Pattern
o Learned that we need to get in LATE, rather than early
o We moved to a slower chart, 6-range on the Dollar to make sure we’re not getting in before the move occurs
930am EST
- Dollar Index Futures still trading at their highs, waiting for a break to the downside to get back in on the euro DX long set-up.
- ATR keeps rising on the dollar
- Crude Oil Futures are trading sideways, lots of overhead resistance, and support below
o We need to wait to see a little more movement from the crude oil
- Gold Futures continue to trade inside their tight range
o ATR on gold futures is
4 trades today, 4 Winners
+84 ticks, $840 usd
Only 4 contracts needed to achieve this today!
See you tomorrow @ 745am EST for the live trade room session!
Posts
0 comments:
Post a Comment