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53 Ticks Today, Did you SEE this Trade on Crude Oil Today?
We opened up our charts today & the market gave us clues …
– 830am EST
o Dollar Index Futures have pushed through 82.000, and now resting on that big round number as support
o Support on the Dollar = Resistance on everything else
Look for the short side on other markets (negative correlation)
o Crude Oil Futures trading sideways from 81.00 down to 80.00
We expect the last two weeks of quarter #1 to be like this, so be patient.
– 900am EST
o Start looking for patterns after our charts issues
o Gold Futures trading sideways, < 100 on Pace of Tape, so very slow on Gold
o Crude Oil testing its highs
o Our first trade of the day was a 2-step short off the HOD
Full stop, price was VERY whippy
– 930am EST
o Crude Oil Fuutres trading @ their previous day’s open
very flat, and slow
o Gold Futures also flat, POT < 100 = slow speed = danger!
o Dollar Index Futures, still trading @ support big round number 82.000
o Russell Futures, still sideways after a full day of trading, need to wait for a breakout to get involved. Good speed, but little movement.
o Euro Futures are completely choppy and sideways, trading at their lows
– 1100am EST
o Dollar Index Futures still sitting sideways @ big round number of 82.000
o Dollar is the spark-plug! We need the dollar to move the other markets~
o Gold Futures also VERY flat, pace of tape < 100 almost all morning
We took a large winner on Crude Oil just after the US Market Open. We rode it all the way down to the lows, and then bought it on a 2-step pattern long of the low of day!
40 ticks in 4 minutes, not too shabby! Watch this video for more!
5 trades today, 4 winners & 1 Loss
+53ticks , +530usd
Only 4 contracts needed to achieve this today!
See you tomorrow @ 745am EST for the live trade room session!
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