86-Ticks LIVE another Great Week! Re-Open Mon 745am!

Today’s Trade Room Notes:

845am EST

– Dollar Index Futures trading sideways ALL week, very tight trading range

o Average true range is flat

o No short term trend on the fast timeframe

o This tells us we may have to wait a ltitle to see some movement in these markets

o Dollar moves first

 Short term trend is very important

 Avoid trading when the dollar is choppy and sideways on the fast timeframe

– Crude Oil Futures, first move of the day was lacking BIG MONEY in the market.

o Looked for a slingshot long entry @ 850am EST, and there were no BIG BUYERS to get us into the trade.

o Waiting for the wave short to trigger….

o Crude Oil trading in the middle of the sideways range from earlier this week, so watch those double-tops and wait for CONVICTION of the breakout.

945AM EST

– Overall lack of BIG MONEY in the market

– No matter which pattern we see, we aren’t getting the BIG buyers/sellers we need to feel confident to take this trade.

1015am EST

– Dollar Index Futures are returning to their sideways range, after attempting to break out

o Noticed the ATR got NARROWER (LOWER) as the market tested the highs

o The ATR got WIDER (higher) as we pushed away from those highs back into the bracket

o This confirms the sideways

5 trades today,4 Winners, 1 Loss

+86 ticks, $860usd

Only 4 contracts needed to achieve this today!

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