82 Ticks Live Today! $16,000 on 4 lots in May!

The Market Gives us clues today…

800am EST

– Dollar Index Futures trading right in the middle of the sideways range from 87.600 down to 86.00

o We’re trading in the middle

o We have dropping average true range

o Pace of tape is VERY Slow

 What does this mean?

• Dollar leads the other markets, so concern on the dollar = concern on other markets we trade

• Trending dollar = trending EVERYTHING else

• Choppy slow dollar = disaster for a day trader.

– Watching for a DX-pattern @ 825am EST, we see the Dollar is in the middle, so we need to wait for the dollar to test its extremes

o Also notice the NARROW trading range on the dollar. From high to low is a VERY NARROW trading range. We want this to be as WIDE as possible, giving us the room to let the trade run.

830am EST

– Euro Futures are looking very similar to the dollar index

o Trading off its recent lows, we’re sitting in the middle of a very narrow sideways range on the fast timeframe

o Also in the middle of the wide range on the slower timeframe

o Pace of tape indicator is NOT showing GREEN like it usually does, so euro has a slow speed

845am EST

– It looks like most of the markets are sleeping this morning ahead of the holiday weekend

– We can chose ANY market we want, so what should I look for?

o Overall Volume = use your market analyzer

 Trade the market with MORE volume

o 6E = 131k

o 6A = 56k

o 6B = 41k

o 6C = 30k

o 6S = 29k

945am EST

– We watched as the DX-Pattern sets up for a high risk entry

o Dollar has too much support

o Euro has too much resistance

o Both the Dollar and the Euro are trading @ their open of the day and prev close of the day

 Remember the loss we took last week?

• No big money!

• Trading around the open/close of the day

• We want to avoid trading around the OPEN/CLOSE of today or yesterday.

5 trades today, 5 Winners

+82 ticks, $950usd

Only 4 contracts needed to achieve this today!

See you tomorrow @ 745am EST for the live trade room session!