Day trading strategy earns +90t on Sloppy Super Tuesday Price Action

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Our day trading
strategy this morning was based on 3 simple clues.  First, we had no major news this morning and
today is Super Tuesday,
which means there are a great number of elections being held today around the United
States.  We assumed with no major news,
and so many people going to the ‘poles’ we wouldn’t see much volume, and that’s
basically what we got.  Our second clue
was from the dollar index which was trading bullishly higher this morning in a
strong trend, but then around 900am EST this trend flattened out and went
sideways, making us concerned that it would be a sloppy day of trading because
of it, which it was.  And third, we have
a price wedge on Crude Oil and a bull price channel on euro, both of which were
strong support as the dollar index moved higher, making it hard to take trades
selling into support.  By the end of the
morning this morning we had a challenging day behind us, thankful for the 90
ticks of profit we were able to earn in a very challenging trading environment.

The clues we received on the dollar index were easy; strong
bull price channel and we were above the PHOD so price should have kept rising
higher, but it didn’t.  as of 1000am EST this
morning the dollar index had gone flat and we had no market personality at
all.  We know that when the dollar index loses
its market personality everything else is going to slow down along with it, and
it did.

Crude Oil day trading strategy was EASY this morning but the
price action wasn’t.  We had some BIG
CLUES from Crude Oil today telling us to buy the lows/support of the price
wedge, and we certainly tried to get into the positions we saw but the market
was slow and sloppy before and after we got the day started.  With the dollar index rising higher above the
PHOD we knew that would push prices lower on Crude Oil and we didn’t have much
room to sell short before we tested the lows of the price wedge.  All we could do this morning was wait for Crude
Oil to fail at new lows so we could buy the lows and that was enough to allow
us to make some decent money today.

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