Sold Highs on Crude Oil and Gold Futures for Veterans Day Trading Profits

Our first job is to check out the dollar index futures

– Narrow trading range
– Inside the range from Wednesday (inside day)
– Slow speed
– Relatively low Average True Range
– Begin a holiday we can assume this is due to low volume from fewer people in the market today.

845am est

– Crude oil futures trading at the highs of the wedge pattern, so we’re looking to sell the highs
– 13-range on crude oil futures shows a nice breaker pattern short below the highs of the day
– We took our first trade of the morning for +5/+10 and then stopped out at point of entry.

1030am est

– We’ve had another very profitable day

– Gave back a little bit of money on a 34 range wave pattern, and now we can see the personality change on dollar, gold and crude oil

– It’s a holiday, so volume is lower than usual, so this is expected

– We need to be patient and wait to see if this personality is going to change again

– We need better speed, we need higher ATR, we need more volume to make this day work any later.

1100am est

– Dollar index continues to show weakness at the highs

– Right when we think the new highs will take place, dollar slows down and reverses off the HOD

– With this lack of conviction on the dollar, the rest of the markets are also lacking direction and strong moves.