March 1, 2012
- in Uncategorized by schooloftrade
BIG CLUES from dollar index help our day trading strategy earn profits
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Our day trading
strategy this morning used a combination of 3 main clues. First, we had a lack-luster reaction to the
Jobless Claims at 830am EST which made us concerned over market personality at
the start. Second, we saw a narrow range
on the dollar index with support below and resistance overhead. Third, we had price wedge price structures on
markets such as gold and crude oil futures.
We used these three clues to earn a total of 160 ticks day trading our
favorite markets this morning.
strategy this morning used a combination of 3 main clues. First, we had a lack-luster reaction to the
Jobless Claims at 830am EST which made us concerned over market personality at
the start. Second, we saw a narrow range
on the dollar index with support below and resistance overhead. Third, we had price wedge price structures on
markets such as gold and crude oil futures.
We used these three clues to earn a total of 160 ticks day trading our
favorite markets this morning.
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| Joe’s Trades Today |
Our day trading
strategy for gold futures was quite simple this morning and it used the three
clues we spoke about above. Wedges are
always very easy to predict, so this morning when gold futures tested the highs
of the price wedge and we had the dollar index trading sideways we knew the
market would most likely go from top to bottom, then back to the top of the
range. Our first trade this morning
attempted to sell the highs of the short-term price wedge but the sellers
failed and price moved higher to the top of the major price wedge, where we got
short just above the highs for 3 winning trades in a row for over 100 ticks of
profit.
strategy for gold futures was quite simple this morning and it used the three
clues we spoke about above. Wedges are
always very easy to predict, so this morning when gold futures tested the highs
of the price wedge and we had the dollar index trading sideways we knew the
market would most likely go from top to bottom, then back to the top of the
range. Our first trade this morning
attempted to sell the highs of the short-term price wedge but the sellers
failed and price moved higher to the top of the major price wedge, where we got
short just above the highs for 3 winning trades in a row for over 100 ticks of
profit.
 |
| Gold Day Trading Strategy |
Crude oil futures
were stubborn all morning until the news of the pipeline attack in Saudi Arabia
left the sellers behind and tested our profit targets we had defined for the
AB=CD Pattern on the 55 range chart.
We noted this morning that there was trigger-zone resistance at 108.00
so we knew to buy pullbacks above 108.00 and just after lunch we got the
opportunity to fill the targets at the highs we had defined together on Monday
this week. Another example of the many
ways you can use this method. Swing
trading, scalping, intra-day trading, it all makes money with this simple
method of trading.
were stubborn all morning until the news of the pipeline attack in Saudi Arabia
left the sellers behind and tested our profit targets we had defined for the
AB=CD Pattern on the 55 range chart.
We noted this morning that there was trigger-zone resistance at 108.00
so we knew to buy pullbacks above 108.00 and just after lunch we got the
opportunity to fill the targets at the highs we had defined together on Monday
this week. Another example of the many
ways you can use this method. Swing
trading, scalping, intra-day trading, it all makes money with this simple
method of trading.
 |
| Crude Oil Day Trading Strategy |
Did you miss the
action in today’s live trade room?
Want to learn how to trade like this with me every day? Our advanced members have lifetime access to
our trade room, and membership includes everything you need, including charts,
data, indicators, tech support, and automated trading strategies.
action in today’s live trade room?
Want to learn how to trade like this with me every day? Our advanced members have lifetime access to
our trade room, and membership includes everything you need, including charts,
data, indicators, tech support, and automated trading strategies.
Don’t miss tomorrow @
730am EST when we post our morning prep on this blog and get the day
started again for another profitable day of live trading with our members!
730am EST when we post our morning prep on this blog and get the day
started again for another profitable day of live trading with our members!
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I trade my own account in our
live trade room, My trading statements are available on request
live trade room, My trading statements are available on request
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