Gold and Crude Oil use the Dollar Index to avoid big losses on Options Expiration Friday

845am est

– Dollar index futures are screaming at us to be careful early this morning.

o Narrowing price action on the 21range chart
o Narrowing average true range from earlier this week
o ATR

– Dollar index futures are screaming at us to be careful early this morning.

o Narrowing price action on the 21range chart

o Narrowing average true range from earlier this week

o We are in the middle of the wedge pattern on the 21-range, so we know we need to be careful.

o The best way to trade this will be to wait for the dollar to test the highs/lows and ideally we want the dollar to breakout above/below the wedge.

930am EST

– These markets aren’t getting any better, lets wait and see what happens as the day moves forward.

o The dollar hasn’t moved an inch all morning
o Average true range across ALL markets is dropping
o Feels like everyone took off for the weekend a little early
o We never give up on a day, so lets be patient.

o We are in the middle of the wedge pattern on the 21-range, so we know we need to be careful.

o The best way to trade this will be to wait for the dollar to test the highs/lows and ideally we want the dollar to breakout above/below the wedge.

930am EST

– These markets aren’t getting any better, lets wait and see what happens as the day moves forward.

o The dollar hasn’t moved an inch all morning
o Average true range across ALL markets is dropping
o Feels like everyone took off for the weekend a little early
o We never give up on a day, so lets be patient.