April 1, 2010

50 Ticks Live Today! Happy Holiday, Re-Open Monday @ 745am!

SchoolofTrade.com Daily Commentary 04-01-10

Market Gave us clues today…

830am EST

• Dollar Index Futures trading sideways from 81.500 to 81.100.

• Double-tops and double-bottoms containing price action

• We don’t trade the dollar b/c its too small of a market

• However, the dollar can control much larger markets b/c it’s the denomination currency

845am EST

• Crude Oil futures trading sideways from 84.70 to 84.20

• CL trading at its HOD and testing monthly and quarterly highs

• Gold Futures broke its highs and continuing to the upside

915am EST

• Euro Futures trading sideways from 3520 – 3477

• Euro dropped to test new lows, but quickly got pulled back into the bracket above, this tells a story, lack of sellers to the downside.

1030AM EST

• Dollar Index continues to trade within its sideways range

• Crude Oil futures has dropped back down into its sideways trading range

• Gold Futures remain very slow, but still moving to the upside on low volume

11am EST:

• Transition into lunch

• How do I know when the morning is over and when the lunch slop and chop is beginning?

• Watch the market for …

• Slow Price Action

• Pace of Tape Indicator = Red = Slow Speed

• Sideways Markets

• Low ATR Reading

• Flat Trigger Lines

• Less BIG MONEY

• Filtered time & sales window

4 trades today, 4 winners, 0 loss. 0 Scratches

+50 ticks, $500usd on the Scalping system today!

Only 4 contracts needed to achieve this today!

See you tomorrow @ 745am EST for the live trade room session!

Click Here To Watch Our Live Trade Room Recordings