65 Ticks Live Day Trading Gold Aussie Dollar Crude Oil Euro Futures

Hey guys!

we had another great day in the live trade room, below is tonight’s recap of the trade’s we took today!

Monday June 21 2010

900am EST

– Dollar index futures are trading at their high of day, which means we can look for a DX-pattern with High % potential
o Speed looks slow (pace of tape indicator)
o Looks to be going into sideways consolidation at 86.00
o Average true range is rising gives us hope that the market is going to get moving for us today!

– Euro futures are trading at their lows today

o Speed is very slow
o We’re trading sideways on the slower timeframe
o Average true range is decent, came off its weekly lows earlier this morning
o We took our first winning trade on the euro for 10 ticks of profit

– Crude Oil futures trading just off their highs @ 80.00
o We’re looking for a 2-step reversal off the highs, but we have the 930am US Open coming up ahead, so we need to wait for that
o Rising ATR
o Speed has been relatively slow for today
o Fast timeframe shows a very flat market

– Gold Futures are very slow this morning, trading at their OPEN of the day.
o Pace of tape indicator = very slow = < 100
o Flat trigger lines on slow and fast charts
o Average true range is a little out of order. The speed is slow, the market is at the open, and the ATR is rising…doesn’t make much sense.

1030am EST

– Took our first trade on gold futures

o We saw the market very slow, very sideways on the fast chart, so we slowed it down to a 60-minute and looked for the pattern there
o Once we saw the 60-min pattern, we then zoomed in to use a 13-range chart to confirm the entry.
o We don’t want to look for an entry on a 30/60/120 minute chart, its too slow

 Look for the pattern on the 60 minute

 Then look for the entry on the faster chart