November 18, 2011

day trading strategy for dollar index, crude oil, gold, euro, and russell futures

The Dollar Index is showing us clues this morning.  First we start with the average true range, which is the same today @ 800am est as it was earlier this week.  This tells us to expect much of the same price action early in the morning as we saw this week, so be patient and look for rising ATR for the best trading opportunities.

Dollar Index 144range chart shows us the MAJOR turning points in the market, and we need to be patient to wait for the dollar to test the highs and lows for the best trading strategy today.

Dollar Index 89range chart shows us more detail, including the PLOD and PHOD so we know where the highest percentage trades will occur today.

Dollar Index 13-range shows us a lot more detail, and really helps us plan where the best trading opportunities will be today.  Notice we used the previous swing lows to find additional support for this market if price falls to new lower-lows.

the EURO has some great opportunities to sell below the PHOD as the buyers fail at the highs of the bear channel.  Be patient to wait for this move to occur.

Euro 89range chart gives us a LOT more clues to where we should be trading today.  Notice the LONG WICK above the PHOD today, and the AB=CD Pattern day trading strategy is in effect.  Sell the PHOD and take profit at the PLOD.

Euro 34 range gives us more clues and EXACT entry locations and where to take profit.

Crude Oil Futures day trading strategy for a price wedge and inside day.

Gold Futures gives us an easy day trading strategy to use the price wedge, sell the highs and buy the lows.  Also, sell below the PLOD down into the ZONE below us.

Gold 89 range shows us more detail of WHERE exactly we want to sell or buy using this price wedge day trading strategy.

    schooloftrade

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