dollar index day trading strategy

The dollar index day trading strategy begins with the
slowest timeframe first, and today we see the price wedge and we are trading at
Tuesday HOD (PHOD). We are dead center
in the middle of the price wedge, so this is the first clue we get, and its
considered red flag.

We go to a faster timeframe and we can see a more price
wedge on the dollar index 55 range and more importantly we can see the we’re
chopping around the PHOD and if you have experience watching these levels we
know that price can sit here all day if we don’t give the dollar index a reason
to move.

We’re concerned that trades are higher risk while the dollar
index sits on top of any price level, and when it’s the PHOD we are concerned
that there is no confidence in where price wants to go.

The short term trend (13range) is defined on the
faster timeframe and it’s the most important aspect to consider for intra-day
trading strategy. There is NO short term
trend, and this can change quickly but with a flat trigger-line and higher-highs
and lower-lows we are trading sideways on top of the PHOD. We need to see a sloped trigger-line and higher-highs
to think of this as a bullish trend, and if that occurs it will give us a
directional bias to look for SELLING opportunities.