Price Channels got us started, Crude Inventories helped us hit our trading goal

The US Dollar Index is trading around its BMT on the 89range chart, which tells us today may be sloppier than desired. Clue #1 from the dollar, 89range BMT = sloppy price action today. Crude Oil is trading inside day today, which is clue #2 Crude oil trades in a bull channel so looking to […]

MARKET WATCH: Crude oil price slips lower as China raises interest rate

Sam Fletcher OGJ Senior Writer HOUSTON, July 7 — Energy commodity prices were mixed July 6, with crude slipping lower in the New York market after the People’s Republic of China announced another increase in the yuan benchmark interest rate as of July 7 ahead of the official June consumer price index (CPI) data release […]

Trade the News Market Internals Update

***Looking Ahead*** – (US) Summit at the White House w/Congressional leadership on Debt Ceiling – (PE) Peru Central Bank Interest rate decision – (US) DOE weekly Energy Inventories: Crude: -2.5Me; Gasoline: +250Ke; Distillate: +1Me; Utilization: 86.5% w/w – 11:00 (US) DOE Weekly Energy Inventories – 11:00 (GE) Meeting between German & Greek foreign and finance […]

Jobless Claims report…what did it tell us?

Day Trading Morning Prep; Gold and Crude Oil setting up for easy trading opportunities

—————————————————————-  The US Dollar Index shows three different aspects of its price structure today. First, we have a medium term bullish price channel and we are in the middle of that channel.  Second, we have a short term sideways range and we are at the highs.  And third, momentum appears to be overbought at these […]

Rocky start, never give up on your trading day, here’s another example WHY

Our goal today is to find the highest percentage trades: –          Pattern –          Correct time –          Correct location If we wait for the high % pattern, at the high % location, and then using our entry rules we can determine if this is a high % time of the day to take the trade. Let’s […]

Trade the News Market Internals Update

***Looking Ahead*** – 11:00 (US) Fed to Purchase $2.5-3.5B in Notes/Bonds – 11:30 (US) Treasury to sell 4-Week Bills – 13:00 (BR) Brazil Jun Vehicle Production: no est v 303.6K prior; Vehicle Sales: No est v 318.5K prior; Vehicle Exports: No est v 44.9K prior – 16:30 (US) API Energy Inventories 10:30 AM Market Internals […]

Trading Strategy for Sideways Markets/Sideways Ranges

Sideways Trading Ranges / Sideways Market –          ‘Flat market’ –          ‘no trend’ –          Double-tops & bottoms –          Flat Trigger Line –          Obvious swing highs/lows off a slower timeframe –          No new higher highs, and no new lower lows What tools to we use to define the sideways ranges: –          F6 = horizontal line –          Ctr+F12 […]

Crude Tumbles on Demand Concerns, Gold Falls on Strong US Dollar Index as Day Traders Prepare for Jobs and Manufacturing news

———————————————————————— Traders around the world are reacting to reports this morning from London that has sent the US Dollar Index higher off support, bringing down crude oil and gold prices. Crude oil made progress on Tuesday after rumors flew about lack of inventories for the busy summertime month, but as of this morning crude oil […]

Patiently waited for over 170 ticks of profit, back in the rhythm of our trading after Holiday

My main focus after a long weekend, after an extended period of time away from my charts, away from my trading is to get back into the rhythm of my day, my routine, my comfort level back. 900am est We review the dollar index and our two main focuses are the 89range and the 13range […]