DX Double Top

This is the first post on Commodity Trader from the Platatude dude.

I am perhaps the most famous “wrong way” trader.  Legions of followers from professional floor traders to a post-menopausal womens’ investment club in Fargo, ND have used the dude’s investment and trading advice as one of the most reliable contrary indicators around. 🙂

I’ll have specific actionable trades (for you to fade 🙂 ) later this week.  However, I wanted to point out a potential double top …

in the dollar index @DX.

A fall in the dollar, obviously, has ramifications for all commodities and all forex crosses paired with the dollar.  I’ve attached the chart below for your convenience.  Click on it to get a better look

DX.jpg

Once the setups for the specific forex and commodity trades I’m looking at this week come to pass I will send those along as well.

Good Trading,

Platatude Dude

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