146 Ticks Live Today! Correction…$5,000 on 4 Lots this Week!

The Market Gives us clues today…

820am EST

– Dollar Futures are trading sideways

o Sideways dollar = sideways on most of our markets

o Speed of the market is slow

o Average true range has been dropping from its HIGHEST levels in a week, but we are still in a decent spot for trading range.

– Euro futures are trying to gain some ground off the lows of the day, week, month

o Speed of the market is slow

o Average true range has been dropping from its HIGHEST levels in a week, but we are still in a decent spot for trading range.

830am EST

– Non-Farm Payrolls are released

– Gold Futures are trading is a sideways range, just off the highs from yesterday’s move ABOVE 1200.00

o Average true range on Gold is rising off its lows of the week

 Price action continues to improve as the morning moves on

– Crude Oil Futures are trading in wide sideways range, with lots of concerns above and below

o 2-tops and bottoms keeping us inside this range, and lots of chop to worry about

o Average true has been RISING all morning, this tells us the price action should improve as the morning moves on.

– Universal Method

o Same patterns on ALL markets

o Same Rules on ALL markets

o Same management on all markets

As a new trader:

– Start with Gold, Russell, Euro, Pound, Crude Oil, ES

Your momentum chart should be the same as the chart you are trading off

– 4 range to scalp the markets, use a 4-range momentum

– 13-range on the Euro for the DX pattern, use a 13range momentum (anything slower than 4 range)

Trade Management:

– Use 2 different types to manage our trades

– Green POT (fast) use my PINK LINE

– RED POT (slow) use a discretion exit

o MACD

o Momentum

o Pace of Tape

Using the Breaker / 2-Step Entry, use the 4-range momentum b/c im taking on a 4-range chart

Wave Entry is on a slower timeframe, so we use a slower momentum indicator, such as the 8 range (grey chart)

7 trades today, 7 Winners

+146 ticks, $1460usd

Only 4 contracts needed to achieve this today!

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