79 Ticks Live Today! DX-Pattern Members-Only Webinar Tomorrow!

The Market Gives us clues today…

800am EST

– Dollar Index Futures are in an uptrend, breaking its highs, and trading just below the 83.000 big round number

o Average true range is very low compared to earlier in the week

o The speed of the tape is < 100, which means we need to wait

830am EST

– Euro Futures are trading trend down

o Sitting on the low of the downward channel

o We need to be careful trading around the extremes of the channel

o Testing its LOD, we can look for the DX-Pattern LONG, just wait for the DX to make a reversal off its highs

o Average true range is very low compared to earlier this week

o The speed of the market has been inconsistent, fast, and then slows, then fast again.

845am EST

– Starting to see a pattern here among these markets

– Large drop/pop and then we are now sitting sideways waiting for more direction ahead.

– Gold Futures are trading sideways after a large pop to the upside; clearly defined double-tops and bottoms are being tested.

o Average true range

1000am EST

– Dollar continues to push its highs, keeping us away from the DX-Pattern today (trending markets are best suited for other patterns)

– Gold futures broke out below their range, but then got pushed back up into the sideways bracket.

– Crude Oil futures sold off at the open @ 930am est, and are now sitting quietly at the 84.00 level.

– Russell futures dropped at the open as well, but have settled into a sluggish range very quickly.

– Euro futures, getting pressure from the dollar continue to drop.

o We need to see double-bottoms to get our hands on the DX-Pattern long on the Euro today

o b/c the euro is trending, we wont see the DX pattern today, we should look

 Wave

 Breaker

 Possibly the 2-step (reversal)

Is there a MAX amount of movement the market can go through?

– 2008 during the credit crunch we saw limit DOWN on things like ES, Russell, Euro, Wheat, Corn, Soybeans

– Limit-Down/Up

o The market can only trade a certain amount down, or up

o Get this info from the exchange website

 Corn Futures, the daily price fluctuation is limited to .30, if we close above .30, the following day will be .45

 Be careful when you see a market going limit up/down

 Your broker should make you aware of this

 Watch for multiple days closing at the highs of the day

5 trades today, 4 Winners, 1 scratch

+79 ticks, $790usd

Only 4 contracts needed to achieve this today!

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