July 31, 2012
- in Uncategorized by schooloftrade
Dollar index Chart Checklist:
Heat
Map: What is it telling us?
Map: What is it telling us?
Dollar index
is trading at NO volatility this morning.
We have 0.0% on the heat map and this tells us two things. First, we have no strong correlation. Second, we have to be concerned about the market
personality on the markets we trade. If the
dollar index is flat, it’s likely to show up on the others as well.
is trading at NO volatility this morning.
We have 0.0% on the heat map and this tells us two things. First, we have no strong correlation. Second, we have to be concerned about the market
personality on the markets we trade. If the
dollar index is flat, it’s likely to show up on the others as well.
OHLC
Analysis:
Analysis:
Small bias to
the bearish-side with 3 out of 4 lower lows.
the bearish-side with 3 out of 4 lower lows.
Overnight
Highs & Lows:
Highs & Lows:
We have
broken the overnight lows and Monday’s lows, therefore we assume bearish market
sentiment. We see the sellers have
indeed FAILED at least once. If the
sellers try again and fail AGAIN then we must assume this will NOT be selling
off, and to look for more clues.
broken the overnight lows and Monday’s lows, therefore we assume bearish market
sentiment. We see the sellers have
indeed FAILED at least once. If the
sellers try again and fail AGAIN then we must assume this will NOT be selling
off, and to look for more clues.
Are we
inside or outside day today?
inside or outside day today?
We are
inside the range from Monday, sitting on top of the PLOD, which reminds us that
the sellers have failed on the first attempt which is consider bullish, and we’re
waiting to see where it goes next. If
the dollar index moves lower below the PLOD and shows strong sellers we know
this will move down to the lows of the trigger-zone. If the sellers fail once again, we can only
assume the buyers will try and grab it to move it higher above the PLOD.
inside the range from Monday, sitting on top of the PLOD, which reminds us that
the sellers have failed on the first attempt which is consider bullish, and we’re
waiting to see where it goes next. If
the dollar index moves lower below the PLOD and shows strong sellers we know
this will move down to the lows of the trigger-zone. If the sellers fail once again, we can only
assume the buyers will try and grab it to move it higher above the PLOD.
What
price-structures do we see?
price-structures do we see?
· Trigger-zone are there as support.
· AB=CD Pattern is bearish
· Price wedge is there, and is bullish
· Price channel is bullish and contains
the AB=CD Pattern
the AB=CD Pattern
· Zigzag is not here on the 89range
· Sideways / Trading Ranges is marked
in the red rectangle.
in the red rectangle.
· Double-top / Double-bottom are not on
this chart.
this chart.
