October 25, 2011
- in Uncategorized by schooloftrade
Fade the wedge highs for easy profits on Crude Oil and Russell futures
850am EST
Dollar index finally pushes off the lows above 76.400 and we are looking for selling opportunities at the highs of the ranges.
900am EST
News comes out lower than expected on the CS Home Price Index and the DOLLAR INDEX appears to want to move higher, we will look to SELL on the markets we are trading today with the dollar index rising.
1015am EST
We sold the highs on crude oil futures for some nice profit today, and now the personality is appearing to change.
Mini-Russell Futures is sloppy and sideways resting at the 89range trigger line support. We can sell short on the Russell below 718.0 area.
Crude oil futures trading in the middle of the price wedge, after we sold the highs of the price wedge and took profit at the lows.
1030am EST
Market personality is changing right at the SAME time from Monday and we assume its due to the Wednesday EU Leader Summit.
Dollar index is trading in the middle of the range, so this is enough to give us a BIG RED FLAG. We need the dollar index making higher-highs or lower-lows or SOMETHING to get us away from this middle.
1100am EST
Time to take your questions and make sure we end this day on a good note. Remember what happened yesterday? 1030am and the markets were tough, lets not make the same mistake today. I’m KEEPING this cash J
