Watch these Entries! Today’s Challenging Market was a learning Tool!

815am EST

– Dollar Index Futures trading very sideways on fast, at high of day, and at the extremes of the sideways range from earlier this week

– Dollar trying to break the highs and the weekly highs to the upside, but speed of the tape is very slow as well.

– Crude Oil Futures, testing its LOD, but we cannot take the short breaker entry without the GREEN POT

– Gold Futures trading very slow, very sideways, and we need to see something MOVE!!! Up or down, anything! Multiple days of sideways chop on gold futures.

845amEST

– Euro Futures, first move of the morning, told us a story. We saw sellers at the lows, looking for a 2-step long reversal. We now expect the sellers to maintain control, so we look for another short entry in the future.

– Wave Indicators are sluggish this morning with flat trigger lines on Pound Futures, Gold Futures,

915AM est

– Dollar Index Futures trading at its highs, testing the double-tops, created a very difficult trading environment for the rest of the market we trade.

– Clearly the first trade of the day on Gold Futures was affected by this.

930AM EST

– US OPEN has markets very jumpy

– Dollar index continues to rest at its highs, causing concern for us trading other markets today

– Crude Oil Futures average true range (ATR) breaks previous highs, tells us the market is trading in a wider trading range

– Wider trading range = more profit potential. Les likely to get all chopped up, like my first gold trade today.

What does the BLOCK mean on the Time & Sales Window?

– > 20 contracts

945am EST

– Alan Greenspan speaking on financial crisis

– Everything is slow and sluggish

– Red pace of tape across the all markets

– Flat trigger lines

– Double-tops/bottoms

– Lack of BIG MONEY in the market at the moment

1000AM EST

– Second trade of the day on crude oil, this time still seeing very choppy, slow, and indecisive price action.

– We have political figures speaking, big money has left the building for now, and we need to wait patiently for the market to start to move for us.

1100am EST

– Crude Oil going sideways, very wide range, decent speed after the 1030 inventories number.

– Gold Futures trading very inconsistently right now. Momentum indicator is very choppy. It FEELS as if nobody has any direction in the market

– Transition into Lunch

4 trades today, 1 winner, 3 Scratches

+3 ticks, $30usd

Only 4 contracts needed to achieve this today!

See you tomorrow @ 745am EST for the live trade room session!