October 5, 2010
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Gold Breakout Day Trading Strategy when Dollar Index Drops
We always start with the dollar index futures and we can see the dollar has three reasons to be excited for the price action ahead of us: – Price is trading above the highs and below the lows from Monday, we call this an OUTSIDE trading day and this usually means good things to come […]
Continue reading October 5, 2010
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3 Phases of Day Trading Strategies; Learning In a Diamond
– Learning in a Diamond o As a new trader you know nothing Knows nothing else besides what is right in front of him/here “ignorance is bliss” o As a rookie trader you try and know everything You buy books and you learn more techniques Trouble shows up when you have […]
Continue reading October 5, 2010
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Dollar Trading Sideways at the Lows All Morning
Gold Futures: – We have gold futures trading sideways in a narrow trading at the highs, and im looking for a short entry and a reversal pattern off these highs – Entry short below 30.1 and we have profit targets at 28.8, 27.5, and then down to the previous HOD at 22.5 for the final […]
Continue reading October 4, 2010
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E-mini Russell & Crude Oil Day Trading Strategy using Dollar Index Correlation
830am EST – Im using the 13-range chart on the dollar index futures and we can see the following: o Market is indeed moving, but it may be trading sideways after those moves earlier this morning, we will wait and see. o Inside day = trading inside the range from yesterday, and it usually means […]
Continue reading October 4, 2010
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Day Trading with Token Prints for Any Futures Market
– Token Print o When price breaks out of a previous trading range, only to get pushed QUICKLY back into the range it just left. o If the speed of this move is not fast, its just your normal failed breakout, which we can still trade with. – Different chart types o I use tick, […]
Continue reading October 4, 2010
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Looking For Patterns On Slower Time Frames
Russell Futures: 1015am EST – We’re watching very slow and sluggish charts right now. – The dollar index futures are trading sideways and VERY slowly, which is causing the rest of the markets to do the same. – The mini Russell futures do not have any trades setting up for the time being, so lets […]
Continue reading October 1, 2010
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Token Print Gold Reversal day trading crude oil and e-mini Russell futures
Im going to begin looking at the dollar index, the most important things to look for are: – Overall trend is very important because of the correlation o Example if the overall trend is down, we expect the markets in general to be rising – Is this an inside or an outside day? o Are […]
Continue reading October 1, 2010
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Breakouts & Failure Patterns & Focusing on 1 Market
– Which market would you focus on and how o Experienced trader = crude oil from 745-12pm EST Good combination of liquidity and volatile E-mini ES is high volume with low volatility o New Trader = euro from 3am – 12pm EST Dollar correlation Good liquidity so broker charges lower margins […]
Continue reading October 1, 2010
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100 ticks on Gold, Crude Oil and Russell Live Trade Calls
Gold Futures: – Gold futures trading sideways at the highs, im going to avoid buying the highs and will look for the short. – We can see a reversal pattern on the gold futures selling short below 15.3 with profit targets of 14.0, 12.3, soft 10.0 and then hard final target of 6.5, the low […]
Continue reading September 30, 2010
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Day Trading Gold Crude Oil and Russell on Jobless Claims and GDP News
– Dollar index futures are showing a lot of movement this morning ahead of the 830am news – The dollar broke the highs and the lows from the trading range yesterday, making this an ‘outside trading day’ – This type of price action on the dollar is usually going to mean decent trading ranges and […]
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