jobless claims news day trading strategy; crude oil, euro, dollar index, russell, gold futures

Our day trading strategy is very simple; use multiple timeframes along with the dollar index correlation to locate the highest percentage trading opportunities every day and use simple entry patterns and entry rules to qualify the trade.

We begin our day trading strategy with the dollar index because of the easy correlation we can use with it.  I will use the 13-range chart on the dollar index as intra-day trading requires us to see the short term trend and possible turning points in the market.

The Dollar Index shows us a short term sideways trend, inside the middle of wednesday’s trading range, and a price wedge from the trend lines above and below current price.  We know that when the dollar index is in middle of the previous day’s trading range in a price wedge that this will result in sloppy, range-bound trading on other markets.

Dollar Index Day Trading Strategy