October 31, 2011
- in Uncategorized by schooloftrade
Dollar index tried to TRICK us, but we got all the TREATS day trading crude oil futures
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Monster winning trade on euro this afternoon, called live in the trade room
Auto Trader still making money, even on Halloween!
Monday’s are always the same, start doing the little things that I know will result in the BIG things later on today.
We all want to make money, and that result comes from doing the little things every morning to get us to a solid start.
I’m getting back into the ‘rhythm’ of the markets and my Morning Routine. Find where I left off on Friday, and never force myself to start taking trades on a Monday morning without the rhythm, the confidence, the awareness of what’s happening at this time.
800am EST
Slow and sloppy, the dollar index in a narrow trading range and the markets still waking up from the weekend.
845am EST
We finished the dollar index analysis and find that the narrow range, the low Average true range and the Monday morning personality is giving us reasons to wait for better opportunities later in the morning.
We will continue to watch the market personality on the dollar index today, looking for strong breakouts without the fake-out breakout to give us the best opportunities to trade.
915am EST
We took one easy trade long buying the price wedge and range lows on crude oil futures after seeing the double top on our 34range chart and locating the ‘buy zone’ on our charts we then used the 4range to enter the trade and the 13range as our target.
920am EST
We know the dollar index is trading in a very narrow range, and because of this we expect the small, narrow ranges on the markets we trade to be the same, so beware selling oversold or buying overbought.
We need to really be patient for opportunities to buy at support with oversold moment, sell at resistance with overbought momentum.
