37 Ticks Live! Trend Lines told the Story

Today’s Trade Room Notes:

830am EST

– Dollar index futures dropped and then retraced off those lows, trading sideways

o News @ 830am made the market jump, but we expect the price to trickle back down to the opening of the day

 We want to avoid trading around the OPEN, and when the dollar is at the open, we expect the rest of the markets to be very sideways.

o Speed is slow (RED P.O.T.)

o Average true range was RISING, which means we may see an improvement in price action

– Euro Futures are trading sideways, very quiet day so far in the euro

o Pace of tape has very little speed

o Trading at the open (zero line)

o Average true range = rising, so we SHOULD see some moves today!

945am EST

– Just ahead of the 955 and 1000am news we notice that all the markets (Gold, Crude, Russell, Euro) are trading at their OPEN of the day

o We need to use caution when we see trading at the open
Trigger Line:

– Support and resistance

– Watch the SLOPE of the trigger line for the breaker and the wave pattern

– Watch the medium and slow charts for the trigger lines as well

5 trades today, 5 Winners

+37ticks, $395 usd

Only 4 contracts needed to achieve this today!

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