Day Trading Strategy; Sell the highs on Gold and Crude Oil Futures

945am est

– We take our first trade on the gold futures buying the pullback after getting new highs above the previous highs from Friday

– Buying a pullback is the safest and most efficient way of buying at the highs

– OUR second trade this morning came selling the highs on crude oil futures, exactly like we had planned in our morning prep.

1000am est

– We see the dollar hasn’t moved a tick since we started this morning

– We expected the dollar would be run off these lows, and we were expecting the dollar to rise and give us selling opportunities on everything else

– That never happened, we are sitting at the lows of the price channel, and trading sideways

– When the dollar is flat, everything else is flat, so lets wait for the dollar to MOVE so we know the rest of the markets will be moving as well.

o Bracket the price highs and lows and then wait for the breakout
o Use your price alert indicator at the highs and the lows and then we wait for the alert to go off.
o Highs are 80.00, and the lows of 79.705
o Now when the highs/lows are broken we know its much easier to see profitable trading opportunities

1030am est

– We see the dollar index futures still trading sideways at the lows of the price channel
– We now notice the average true range is lower than the past four trading days, which further confirms our concerns that people are waiting for something NEW to solidify the direction ahead.

– Right now it appears the best way to trade this market is sitting on our hands
– So lets be patience and look for the next high % price pattern

Click Here To View Our Automated Trading System Results From Today.