Euro Currency Futures Day Trading Strategy Selling the Breakout

– We being our trading with the dollar index

o We are trading outside of the trading range from yesterday

o We have a down-trend

o Relatively wide trading range

o These are all good signs that the market is going to be giving us something to work with today.

o I want to set the highs and the lows with the ‘price alert’ indicator to make me aware of when we break new highs/lows.

845am est

– We’re watching some rather choppy price action with fed chairman Bernanke speaking.
– We took our first trade on gold futures, it was a fast track winner and a day trade winner.

– Now we’re looking for the reversal off the lows on gold, and we’re having a hard time getting around the overhead resistance levels

o These medium timeframes are always changing, they are DYNAMIC levels of support and resistance.

Looking back at today’s price action, what could I do to better anticipate this?

– Remember what the time and sales window looked like (very inconsistent, buyers, then sellers)
– What did the 4r momentum look like?
– What did the first few moves of the day look like?
– Today was OPEX, so that had a key
– Important speakers this morning @ 815am, that had an impact.