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12 Ticks LIVE Today. NEW DX-Pattern Tomorrow!
8am EST
– Dollar Index Futures trading in a range from 82.000 down to 81.400
– Speed of the tape (pace of tape) is very slow (<100)
– Average true range is at its weekly lows
o Trading right now may be very narrow, slow and potentially dangerous.
o Average true range = volatility/ range of the market
820am EST
– Crude Oil Futures trading sideways from 85.60 to 84.75
– Pace of Tape Indicator < 100 (speed = slow)
– Average true range is very low
o Most narrow price action we will see
830am EST
– Gold Futures trading sideways after its large jump up from last Friday.
o Wait for price to make an attempt to break out of this range, and play from there.
o Average true range is at its lowest weekly levels
– Pound futures trading sideways from 1.5500 to 1.5400
o Speed is still pretty slow
o Average true range is at its center over the past week
900am EST
– Crude Oil opens and looks very indecisive, resting on trend lines, not much speed, and overall tight trading range
– Gold futures still very slow
– Pound futures appear to be VERY weak right now, we watched for a breaker with large buyers, and saw nothing, so wait for the better price action
1000am EST
– Dollar Index futures continue to trade flat, which is keeping the rest of our markets from going anywhere as well
– Crude Oil futures are seeing Momentum go from over-bought to over-sold from one pattern to the next
o Very weak price action, nobody knows where it wants to go (blame the dollar for that)
– Gold Futures are still trading sideways
o Very slow, so we must wait for an improvement
1045am EST
– Crude Oil futures trading in its sideways range from last Friday after it dropped from its range today
– Gold futures are still very quiet, very sideways, clearly we need to wait for the breakout to show up
– Dollar Index is to blame for this slow market today, its going nowhere fast, sitting sideways as well
1100am EST
– Looking for the transition into Lunch
o Lunchtime = 12-noon – 2pm EST
We don’t get a lunch bell!
o Slower Price Action
Slower Speed on your time & sales window
Use the Pace of Tape = RED (Slow)
o Sideways Markets
Flat Trigger Line
Double-tops/bottoms (fast)
Average True Range (ATR = Dropping)
o Lack of BIG MONEY
Watch your FILTERED time & sales window
• Do you see a lack of big money
• Is it taking more time between the big money orders?
3 trades today, 1 Loss, 2 Winners
+12 ticks, $120usd
Only 4 contracts needed to achieve this today!
See you tomorrow @ 745am EST for the live trade room session!
