May 11, 2012
- in Uncategorized by schooloftrade
Day trading strategy for dollar index correlation
The dollar index trading higher
this morning but the heat map and market personality tell us we can’t use the
correlation like we want to without some decent market personality. Without a lot of speed we know the dollar
index will drag down everything else and cause other markets to be sloppy this morning
as well.
this morning but the heat map and market personality tell us we can’t use the
correlation like we want to without some decent market personality. Without a lot of speed we know the dollar
index will drag down everything else and cause other markets to be sloppy this morning
as well.
We can see the Bearish AB=CD Pattern on the DX 21-range chart which tells us the market will try to rise higher into the 80.600 level, and then when it gets there that major resistance will likely cause a price reversal and price will fall.
Keep an eye on the dollar index heat map and market
personality and look for the periods of time this morning on a Friday when the dollar
index is moving the most, that’s when we will get the best trading
opportunities.
