day trading strategy for high reward low risk entries

Our day trading strategy begins with the dollar index, we’re looking for the short term trend and major turning points in the market.  We can see the big bear price channel has recently been broken and we have a short term trend that is BULLISH.  Look for the trigger line (yellow line) to flatten out when the trend goes sideways.  We also locate potential turning points above us and below us.  We expect the best trades to occur around these major turning points, so keep a close eye on where the dollar is in relationship to these.

Dollar Index Day Trading Strategy

Our day trading strategy for the euro currency futures uses the bull channel along with the trigger zone giving us plenty of reasons to look for buying opportunities.  We also know the dollar index has a long term downtrend and that may be enough to move this euro higher off these lows, so be patient waiting for the euro to test the channel lows and then look to buy the euro lows.

Our trading strategy is to think what if price rises and what if price falls?  If price rises we need to beware of sideways slop and chop in the middle of this channel.  if price falls we want to buy the lows and the support below us at 1.3070, channel lows, 1.3040 trigger zone lows, and the PLOD 1.3081.

Euro Day Trading Strategy

Our 55-range chart gives us a big clue for an easy day trading opportunity on the euro using our wave pattern.  We want to see the momentum confirm, get as close to the trigger zone and the channel lows as possible, but wait patiently for the trade to trigger on a faster timeframe for the specific entry locaiton.  use the Professional Wave Trade Plan posted in the advanced course.

Euro 55-Range Wave Pattern

our 34-range chart on the Euro Currency Futures shows us the opporutnity to buy the channel lows and look for patterns such as wave or 2-step long to enter off these lows.

Our day trading strategy for crude oil futures today involves the price wedge, AB=CD Pattern, and we want to buy the lows of this range.  As price falls we buy the wedge lows and the AB=CD reversal zone around 98.55 down to 98.36.  If price moves lower below this area we look for the fake-out breakout first and then with strong sellers we sell retracements down to 97.50 where we then look to buy support again.

Day Trading Strategy Crude Oil

We use the faster 34-range chart on crude oil futures to give me a specific entry location for me to look for entry patterns.  As price falls im buying the AB=CD Major Support at 98.36, buying the the wedge lows 98.00, and the support below the wedge lows at 97.53 and 97.40.  If price moves below 97.40 im looking for opportunities to sll retracements after I look for the fakeout breakout below 97.40 first.

The Russell Futures day trading strategy uses the bull price channel, the double top, and the trigger zones as support levels for entry locations.  we need a much faster timeframe to show us exactly when and where to enter the trades, but this is a great starting point to find the bst locations for our trading today.

Russell Day Trading Strategy

We further-refine our day trading strategy using the Russell 34-range chart.  We can see the bull channel, the Double-Top and the Trigger Zone levels of support, so as price falls we want to buy at support as the highest percentage trade, and then if the sellers are too strong and support breaks we look for the fake-out breakouts first and then sell a retracements with new lower lows.