March 1, 2012
- in Uncategorized by schooloftrade
Day trading strategy up-date 930am
Crude oil futures
trading sloppy and sideways at the PHOD with resistance at 108.00 just above us,
and if break above 108.00 we will buy pullbacks but and if we break below the PHOD
the sellers will grab hold and we will start selling retracements.
trading sloppy and sideways at the PHOD with resistance at 108.00 just above us,
and if break above 108.00 we will buy pullbacks but and if we break below the PHOD
the sellers will grab hold and we will start selling retracements.
Euro currency futures
have trade on top of the PLOD and we have support at 3300 directly below
the PLOD so it keeps us from jumping into the wave pattern short on the 21
range chart. We are looking to buy the
euro above the 1.3325 and using the dollar index correlation as our guide as it
sits on support. If price moves lower on the euro we will then look to buy the LOD
at 1.3282
have trade on top of the PLOD and we have support at 3300 directly below
the PLOD so it keeps us from jumping into the wave pattern short on the 21
range chart. We are looking to buy the
euro above the 1.3325 and using the dollar index correlation as our guide as it
sits on support. If price moves lower on the euro we will then look to buy the LOD
at 1.3282
The E-Mini-Russell has
come up higher off the price wedge lows and now trading in the middle of
the price wedge so we need to be careful trading the middle. We had an easy 2-step long off the lows in
the pre-market and now we’re looking for the double-bottom resistance to hold,
and give us a chance to get some trades this morning. Ideally we want to sell the highs and buy the
lows/support of this price wedge so be patient and wait for the higher
percentage trades. Beware trading in the
middle of this price wedge, sell the highs and buy the lows/support of the price
wedge for the high-percentage trades.
come up higher off the price wedge lows and now trading in the middle of
the price wedge so we need to be careful trading the middle. We had an easy 2-step long off the lows in
the pre-market and now we’re looking for the double-bottom resistance to hold,
and give us a chance to get some trades this morning. Ideally we want to sell the highs and buy the
lows/support of this price wedge so be patient and wait for the higher
percentage trades. Beware trading in the
middle of this price wedge, sell the highs and buy the lows/support of the price
wedge for the high-percentage trades.
**market personality is telling us to fade-the-breakouts as we watch
the dollar index move higher and then reverse back lower**
the dollar index move higher and then reverse back lower**
Gold futures trading
at the price wedge highs and we want to sell these highs and then if price
moves higher on strong buyers and dollar index falling we will buy pullbacks. Remember to look for price reversals at the
resistance above the price wedge highs.
at the price wedge highs and we want to sell these highs and then if price
moves higher on strong buyers and dollar index falling we will buy pullbacks. Remember to look for price reversals at the
resistance above the price wedge highs.
