April 10, 2012
- in Uncategorized by schooloftrade
Day trading strategy for dollar index
We can see the bear price channel and the major bear price
wedge trading inside the range from Monday, with a MONSTER inverted hammer
candlestick pattern. This big candlestick
WICK tells us how confused the market personality has been on the dollar index over
the past 24 hours, moving higher and then falling back down after the traders
came into the market post-Easter weekend.
wedge trading inside the range from Monday, with a MONSTER inverted hammer
candlestick pattern. This big candlestick
WICK tells us how confused the market personality has been on the dollar index over
the past 24 hours, moving higher and then falling back down after the traders
came into the market post-Easter weekend.
We dig into the 89 range chart and find three different
trading ranges; the major range, medium,
and minor trading ranges. We aren’t exactly
in the middle of these ranges, but the most important thing to remember Is that
we are NOT at the highs or the lows of the range, so expect price action to be
a little more challenging.
trading ranges; the major range, medium,
and minor trading ranges. We aren’t exactly
in the middle of these ranges, but the most important thing to remember Is that
we are NOT at the highs or the lows of the range, so expect price action to be
a little more challenging.
We know for a FACT that when the dollar index tests the
highs or the lows of a trading range we will see the best trading opportunities
today. It’s our jobs as professional
traders to wait patiently for this.
highs or the lows of a trading range we will see the best trading opportunities
today. It’s our jobs as professional
traders to wait patiently for this.
The final thing we look for on the 89range chart is the BMT,
Big Money Trigger Line, and our members know better than to ENTER trades around
the 89range BMT because we know the price will be sloppy, and price will stick
to this level like a magnet. BMT’s make
excellent profit targets and they can be used for a swing trade opportunities,
but not for the purpose of intraday trading.
Big Money Trigger Line, and our members know better than to ENTER trades around
the 89range BMT because we know the price will be sloppy, and price will stick
to this level like a magnet. BMT’s make
excellent profit targets and they can be used for a swing trade opportunities,
but not for the purpose of intraday trading.
Bottom line this morning for our day trading strategy using
the dollar index: we are trading inside
day, in the middle of the minor trading range, and the BMT is right below
us. Considering this is the first day
back without any major news before 930am EST we need to be patient today, get
us away from this BMT and get us MOVING higher or lower.
the dollar index: we are trading inside
day, in the middle of the minor trading range, and the BMT is right below
us. Considering this is the first day
back without any major news before 930am EST we need to be patient today, get
us away from this BMT and get us MOVING higher or lower.
Our 13 range chart on the dollar index shows us
the INSIDE DAY above the PLOD and below PHOD and we have a new short term bear price
channel where we need to be patient and wait for the dollar index to test the
highs or the lows of this price channel for the best trading opportunities.
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| Day trading strategy for dollar index |
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| Day trading strategy for dollar index |
