day trading strategies for dollar index, crude oil, gold, euro and russell futures

We begin our day with the dollar index, the average true range tells us this morning is all about patience.  The ATR is lower today @ 815am than it was on Friday @ 815am EST so we need to use this as a clue to be patient for this Monday morning to wake up a little more before we start trading.

The Dollar Index is trading in a price wedge, above the highs from Friday, and in the middle of the major range.  This tells us to be looking for clues for better price action, avoid the middle, sell the highs and buy the lows.

Dollar 89 range shows us much of the same thing, this time we can easily see that we are at the highs of this short term range, so look for buying opportunities on the markets you trade with this correlation.

Dollar Index 13range is a much fast timeframe chart which shows us the short term trend.  We use the short term trend to helpo define which direction our highest percentage trades will be today.

Euro 89-range chart shows us ane asy way to use the dollar index trading strategy.  Price wedge and outside day failure make this an easy market to buy above the PHOD with the Dollar Index dropping.

The Euro 34range chart shows us more details and tells us exactly where we will be looking to trade today.  Our trade plan for the euro uses the dollar index correlation so make sure you keep an eye on that before you pull the trigger.

Gold Futures have a lot going on this morning.  we are failing at new lower lows, which tested the trigger zone of the major swing on this 89range chart.  When you combine the trigger zone with the failure below the PLOD and the price wedge above us, this looks great for an outside day FAILURE, so looking to buy above the PLOD and the Trigger line on the 89range chart.

We took our first trade today on gold futures, using the simple 2step pattern

Russell Futures trading at the lows of the bear price channel, outside day below the PLOD, and in the buy zone using the A to B from the channel.

Now the 34range on the rusell shows us exactly where we want to be trading this morning.  We want to buy the lows of this bull channel using a 2-step pattern long on a faster timeframe.

Crude Oil Futures trading in a bear price channel, in the ‘zone’ from the major swing highs and lows, and we can see the buyers failed at the PLOD so easy selling opporutnities on the way down from the PLOD and now we need to look for buying opportunities at this support, and selling opportunities if we get to resistance.