Morning prep day trading strategy futures

Our day trading strategy this morning uses multiple markets
and multiple timeframes for each market to find the most important trading
opportunities every day.

We begins our day trading strategy with the dollar index and
we’re looking for major turning points and the short term trend to use in our day
trading strategy. The dollar index 89
range chart will show me the major turning points in the form of support and
resistance.

We can see right away on the dollar index that we have a
major trend line as resistance which is giving us support on the other markets
we trade. We can also see the PHOD and PLOD
on this 89 range chart, and we have just failed above the PHOD so the buyers
have failed and we know now that the sellers will try to push price back down
below the PHOD and try to re-test the PLOD.
We can also see the trigger-zone was resistance before but now that we
are ABOVE the resistance it turns into support so this is going to be a
transitional area for the dollar index. If
price moves higher we go above the PHOD and above the trigger-zone resistance
to prices should keep rising, but if these sellers take control the price on
the dollar index will fall and prices on Crude Oil, euro, E-Mini-Russell, and gold
futures will all rise with the dollar index falling.

Dollar index short-term-trend is non-existing at this time
800am EST as its been trading sideways at the PHOD all morning. We’re looking for a short-term-trend to give
us a directional bias, and without one we know there’s no higher percentage
trades in one direction or the other. We
do see the major support below and resistance above which will help us make
better educated decisions this morning using this dollar index correlation. As the dollar index drops to support, we look
for price-reversals on the markets we trade.

Dollar Index Strategy

Crude Oil day trading strategy includes the PLOD and PHOD we
are trading inside the range from Friday after seeing the sellers fail and the
buyers grabbing hold with the dollar index falling of its highs as well was
easy for price on Crude Oil to rise this morning.

The 89 range chart on the Crude Oil makes it hard to find
the short term price wedge that we see on the 55 range chart, and when we
combine that with the dollar index at support (price channel lows) we then
realize this price wedge is going to be important. Sell the highs of the price wedge first, and
then with new higher-highs (if/when the dollar index keep dropping) we buy pullbacks
above the 107.30. we should get to the PHOD
if we get above the 107.30 with strong buyers so look for buying pullbacks and
then sell the PHOD at the top of the price wedge. If price moves lower we buy the price wedge lows
and the PLOD as support.

Crude Oil day trading strategy

The euro currency futures day trading strategy begins with
the slowest 233 range chart, looking for the most important levels of support
and resistance and we can see the major bear price channel and the price wedge that
has been formed with trend line from the swing-high and the swing-low and we
can see the PHOD and PLOD we are trading in the middle of the range after the
sellers failed and the buyers pulled price back above the PLOD. Remember that when the PLOD holds like it did
on euro and Crude Oil today we now expect the buyers to re-test the PHOD.

We have a bull price channel on the euro we want to buy the
lows/support of the price channel. We have
trigger-zone support and the price channel support at 1.3180 we want to buy
this support. We need to buy pullbacks above
1.3235 as the sellers have failed at the lows and the dollar index can possibly
break the current short term support its resting on.

We will buy the lows/support of the price channel,
buy the lows/support of the price wedge and buy above PLOD as the sellers have
failed. Look for the PHOD and the trigger-zone
resistance as ideal targets for your pullbacks and your long positions and
remember the middle of the range around 3350 will be sloppy so re entry will be
tough.