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820am est
N
If prices rises:
If prices drop:
Gold is trading at the highs right now, so we expect to see the market drop off the highs, but we simply cant
predict.
^e see the PHOD and PLOD are below us, which is a bearish sign. ^e also have the aig Money Trigger Line, a price
magnet, below us as well.
All signs point to selling off, but we need to make sure we get the pattern first.
850am est
-à ^e see the news @ 830 comes out and the markets don͛t move much
-à Now we go through our morning routine and we look at the dollar
-à The DX 06-11 contract dropped last night after the FOMC announcement left rates unchanged.
-à Now the dollar has been rising off these new lows
-à The 34range on the Dollar shows us a wave pattern SHORT.
-à Negative correlation on the dollar says this would be a great time for a wave long on the markets we
trade.
-à 34range on the dollar says that swing traders need to stay long, dollar is falling in the long term
-à 34range is a little slow for day traders, lets use a faster timeframe for day traders
-à Our 13range chart shows a rising dollar, so we will look for selling opportunities until this changes
-à How does this help us make money? ^e know the dollar is trying to rise, so selling at resistance levels
will be considered the highest percentage trades.
930am est
-à Its very clear the market personality on crude oil is not something we can avoid
-à Very sloppy and lack of conviction on where it wants to go next.
-à ^e have all the trigger lines are flat
-à ^e are trading in the middle of the rang
-à ^e are trading around the aMT͛s
-à All these red flags tell us͙.lets be patient.
1010am est
-à ^e͛re still seeing very tough price action, so lets plan our attack at the best possible locations today
-à If prices Fall im buying the next major support at 112.63
-à If prices rises im selling resistance at 113.56
-à ^e will avoid trading around the big round numbers with this poor price action
1045am est