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Dollar index day trading strategy
Our
day trading strategy for the dollar index begins with the 55 range, and we can
see the major trigger-zone as support below us, price wedge with trend lines,
and the range from Tuesday we are trading inside day. This 55 range chart shows me the most
important levels of support and resistance, and with the dollar index we view
these as excellent opportunities for reversals and thus high percentage trades
on the markets we trade most.
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| Dollar Index Day Trading Strategy |
chart shows us the short term trend (which today is up) and the possible ‘turning
points’ which is where we expect the highest percentage trades to occur today.
As we write this prep, the dollar index is at
the highs of the range, we expect it will either fall or keep going
higher. If the dollar index tumbles, we
buy the lows on the Euro futures, buy pullbacks with new higher-highs on crude
oil and gold futures, etc. if the dollar
index keep going higher we then know this market is bullish on the dollar index
and we then want to sell retracements on crude oil and Euro futures.
