April 16, 2012
- in Uncategorized by schooloftrade
Day trading strategy dollar index
Dollar index trading this morning inside the major bear price
channel and with that comes a bear price wedge price structure. We are trading outside day, above the PHOD and
we are just about to break the 80.365 resistance which is the ‘C’ point of the
recent BULLISH AB=CD pattern. If price
breaks the resistance overhead and disqualifies the AB=CD pattern, this is a
MAJOR technical failure pattern and therefore price should be moving higher
quickly. If price moves higher we then
expect price to move to the price channel highs and the trigger-zone lows as resistance
above it.
channel and with that comes a bear price wedge price structure. We are trading outside day, above the PHOD and
we are just about to break the 80.365 resistance which is the ‘C’ point of the
recent BULLISH AB=CD pattern. If price
breaks the resistance overhead and disqualifies the AB=CD pattern, this is a
MAJOR technical failure pattern and therefore price should be moving higher
quickly. If price moves higher we then
expect price to move to the price channel highs and the trigger-zone lows as resistance
above it.
We have two reasons to see the dollar index move higher, the
heat map, and the key resistance overhead.
With rising dollar index prices we then expect falling prices on the
markets we trade, so our day trading strategy with the dollar index today is to
sell retracements with the dollar index rising higher.
heat map, and the key resistance overhead.
With rising dollar index prices we then expect falling prices on the
markets we trade, so our day trading strategy with the dollar index today is to
sell retracements with the dollar index rising higher.
We may have a challenging morning with the dollar index considering
the heat map MAY turn around and head back to zero, while the dollar index tested
the resistance overhead and failed, it started to fall off these highs and we
can see the price wedge and the PHOD below us begging the price to come lower.
the heat map MAY turn around and head back to zero, while the dollar index tested
the resistance overhead and failed, it started to fall off these highs and we
can see the price wedge and the PHOD below us begging the price to come lower.
Question today for our day trading strategy on
the dollar index will be which direction does the dollar index want to go? Does it want to keep going higher, breaking
the 80.365 and sending the crude, E-Mini-Russell, euro and gold futures lower,
or does the dollar index fall off these highs and gives us pullbacks to buy on
the markets we trade most?
the dollar index will be which direction does the dollar index want to go? Does it want to keep going higher, breaking
the 80.365 and sending the crude, E-Mini-Russell, euro and gold futures lower,
or does the dollar index fall off these highs and gives us pullbacks to buy on
the markets we trade most?