Price Reversal Strategy sell the Highs on Crude Oil and Gold Futures

Professional traders react to trading opportunities with full acceptance of all responsibility and all trading results.

Professional traders get into that ‘zone’ where they see and they react on almost instinct.

That ‘instinct’ comes from repetition and consistency.

The first thing this morning is to check the news:

815am EST

– We begin our day with the dollar index

– We are concerned over volume this morning because it’s a Friday morning, and we had veteran’s day on Thursday

– People MAY have left for the week on Wednesday, but we’ll wait and see how the morning plays out.

Dollar index futures:

– Slow speed of the tape = be patient and wait

– Narrow trading range = be patient and wait for the price to break highs or the lows

– Lows of channel = price will rise (looking for shorts)

– At 2 weeks highs, so expect the highs to be tested and look to sell the highs (buy the lows on everything else)

835am est

– Crude oil futures at the lows of the channel and the lows of the wedge, so lets BUY these lows