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Price Reversal Strategy Gold and Crude Oil using Dollar Index Futures Correlation

1,259 views · Published 13 December 2010 · 9:49 · Indexed 5 October 2026

Channel: Joseph James Trading With JJ · 2010 · Education

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http://www.sidewaysmarkets.com/2010/12/price-reversal-strategy-gold-and-crude.html

Price Reversal Strategy Gold and Crude Oil using Dollar Index Futures Correlation

We finished up a great year of 2010 with 179 ticks of profit on only 6 trades.

We knew today would be a challenge...
-Monday morning in a transitional week of the year

-No News to act as a catalyst

-Dollar was VERY slow and sluggish @ 8am

-Looking back at last year, this is the time to expect sluggish price action, so beware

We also saw some GOOD signs from the market, which gave us confidence...
-Dollar at the lows, and Gold/Crude Oil at the highs (sell the highs)

-Sideways ranges are easy to trade, easy targets and stops

-Momentum overbought on the slower 55-range charts early this morning (sell the highs)

With that said, we had some concerns, but we also put together a real strong plan of attack. Plan your trading, and then trade your plan...exactly what we did today.

If you missed our morning prep @ 745am EST this morning you missed that EXACT instructions on how to profit from these.  Don't miss our next morning prep on January 10th when we come back from our holiday break.

Don't miss today's recap, we made amazing lemonade with the little bit of lemons we had today, don't miss it.

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