24 Ticks Live Today! Did you grab this DX-Pattern Long?

The Market Gives us clues today…

845am EST

– Dollar Index Futures trading back at their highs, we will wait to see if they end up sideways or not

o Average true range has been dropping

o Pace of tape on the dollar very slow

o We saw a DX-pattern long set up this morning @ 750am EST.

o The dollar broke its trend lines and its swing low, and the euro broke above its trend line and its swing high

– Euro Futures just dropped from 2.600 to 2.200 and we’re going to wait a little to see where the euro goes from here.

o If it dropped this quickly, it will likely RISE just as quickly, but we need to wait to see what the BIG MONEY is going to show us.

 BIG SELLERS right now….looking for more shorts

 BIG BUYERS right now, look for the price to start climbing back to the upside.

o Average true range is dropping from its higher levels this morning

o Pace of tape is RED, slow, and sluggish.

 We need to see YELLOW and GREEN on the Pace of Tape indicator.

915AM EST

– Crude Oil futures trading at weekly lows, trading sideways

– When trading in a sideways range

o Buy the lows

o Sell the highs

o Don’t trade the MIDDLE! (chop zone)

 Price can go in ANY direction!

945am EST

– Gold futures resting just below the 1200.0, they are trading very slow and they appear to be waiting for some sort of direction

o We have consumer confidence news @ 1000am EST, so its expected people are waiting for that to come out first.

o People seek SHELTER from the ‘storm’ in gold

1000am EST

– Consumer confidence is HIGHER than expected, but we see the OPPOSITE of what WE expected to see on Gold futures contracts.

o Higher Consumer confidence SHOULD mean a drop in gold price

o We see a RISE in gold prices, which is considered divergence

 Price is rising, while the indicator is not

1030am EST

– We took our last trade on crude oil and almost got chopped out of the market

– Very whippy, doesn’t look like crude knows where it wants to go.

– WAIT! Check the ATR and the average true range is RISING! Why?

– A little bit of some MIXED SIGNALS from crude oil, so lets give this some time to get moving for us.

– We’ve taken 2 trades, both of them were VERY choppy results, which makes us concerned that we may not get that lucky next time, get stopped out.

2 trades today, 2 Winners

+24 ticks, $240usd

Only 4 contracts needed to achieve this today!

See you tomorrow @ 745am EST for the live trade room session!