day trading strategy without news on Monday morning

We got our week started this morning with some clear signs of a sloppy monday morning and we used some clues from the dollar index and overall market personality to make an educated decision this morning to stay patient and look for only the best trades this morning gave us.

The day began with us not seeing any major news to consider as a ‘catalyst’ so our day trading strategy was simple, be prepared to sit on hands before 930am EST waiting for the volume to enter the markets.

We also noticed the dollar index was dropping, but we were at major support, the price channel lows, and we have seen this SO many times before where a sloppy monday without any major news simply SITS on the channel lows and wont go higher OR lower to give us any real trading opportunties.

On tops of the dollar being at the channel lows and ticking down little by little our trading strategy gave us big warning signs with the euro, crude oil, and russell all trading at their respective HIGHS.  The highs of a range are so dangerous to trade in a slow and sloppy environment like we saw this morning and that kept us on the sideways for most of it.

The simple fact that the dollar index was sluggish, at the lows of its channel, and moving LOWER meant that the only way we could trade it was to buy the highs on crude, euro, gold, russell, and that simply isnt in our day trading strategy as higher percentage opportunities so we decided to wait.

By the end of the morning we had seen EXACTLY what we assumed would happen, the dollar index restled with the lows, crude oil and euro with the highs and we got some very small opportunities that we were able to capitalize on but very few compared to the exciting week we had last.

Tomorrow we have the State of The Union address and the beginning of the FOMC Meeting which will mean a possible slow day on tuesday.  Whatever happens, we will ALWAYS be here trading live with our members starting each day at 730am est ready to make some easy cash from the markets we trade most.

Trades Called LIVE This morning