March 20, 2012
- in Uncategorized by schooloftrade
Dollar index trading price wedge structure giving us big red flags
We can see a short term bear price channel, which gives us a
directional bias. The short-term-trend tells
us the opposite direction we will consider the highest percentage trades. With the dollar index moving lower, we can
rest assured as long as this trend continues the higher percentage trades will
be LONG on markets such as Crude Oil, euro, E-Mini-Russell, gold futures.
directional bias. The short-term-trend tells
us the opposite direction we will consider the highest percentage trades. With the dollar index moving lower, we can
rest assured as long as this trend continues the higher percentage trades will
be LONG on markets such as Crude Oil, euro, E-Mini-Russell, gold futures.
We can easily see the major trigger-zone support below us,
and the trigger-zone resistance above us. As price rises we run into the trend line and
the trigger-zone above and as price falls we sit at major trigger-zone support
and the 79.505 major swing-low.
and the trigger-zone resistance above us. As price rises we run into the trend line and
the trigger-zone above and as price falls we sit at major trigger-zone support
and the 79.505 major swing-low.
The price wedge and the levels of support and
resistance above and below make it very likely that this market sits and trades
sloppy this morning. This is a BIG RED
FLAG.
