Sideways Market Trading Strategy for Dollar Index, Crude, Gold, Euro & Russell

830am est

– Gold futures trading at the new lows of the day as the dollar pushes new highs
– We have slow speed of the tape on the gold futures
– We have low average true range
– We have what appears to be a very indecisive market this morning.

o 13-range shows us at the lows of the wedge, so im looking to buy the lows

o The issue is that we don’t see any consistency with the speed increasing or the big buyers to confirm our entry.

1100AM est

– We’ve finally been able to get some moves in the market
– Crude oil gave us a nice wave pattern long at 82.50 and we took $250usd out of it

o Now the crude oil futures are slowing down and looking more challenging

 Red, decreasing POT

 Average true range is dropping off the daily highs

 We also know we are at the highs of the trading range from earlier this week, so expect this market to slow down and look for clues for the future direction

• Sell the highs with a reversal pattern (2-step)

• Buy the breakout, however, the dollar is still resting on support, and that means breakouts LONG will be higher risk.

– We also grabbed a bunch of money out of gold, could have made a LOT more today, but the market kept chopping around, 10 ticks up 20 ticks down, 30 ticks up 10 ticks down

1130am est

– The dollar ATR keeps dropping
– We didn’t see any added volume after the 1130 euro close
– We continue to see the markets trade sideways off the highs of the morning
– Lets wrap things up!