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Momentum on Wave Indicator, here’s what to Look for today!
SchoolofTrade.com Daily Commentary 03-12-10
Momentum on Wave Indicator, here’s what to Look for today! See you Monday!
We had a GREAT week in the live trade room, and CONGRATS to all the members for their success using our methods this week!
We opened our charts today and the market gave us lots of clues…
– 820am Gold < 100 on POT
– 830am Dollar has dropped, but begins to rise, still in very sideways range
– 900am Gold begins to drop on the Dollar Rise
– Markets VERY slow @ the Open
– Nobody speaking, it appears rollover has drained the life out of these today
– Sit back and relax, wait for the patterns to gain speed.
Today was a Friday, so we knew the futures markets would get a little quiet a little EARLIER than it had the rest of the week.
We knew we had to get in early, and have the discipline to stop trading before the market slows down and gets more risky late on a Friday.
The Dollar dropped like a rock early in the morning…but them it stopped dropping and went flat.
We also watched VERY slow pace of tape indicator on Gold Futures & Crude Oil Futures, and we discussed the importance of the MOMENTUM INDICATOR in the room alongside live price action as they were setting up.
Watch the video for the whole story!
3 trades today, 1 winner, 1 loss
Our trade management style is the reason we are profitable!
+6 ticks, $60usd
Only 4 contracts needed to achieve this today!
See you tomorrow @ 745am EST for the live trade room session!
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