October 7, 2013
- in Uncategorized by schooloftrade
Euro Day trading strategy; SchoolOfTrade.com
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| Euro Anchor Chart |
We have higher-highs and higher-lows on the bullish anchor
chart this morning which is telling us to buy those pullbacks using the Wave
pattern and double-top/bottom pattern going with the trend this morning.
chart this morning which is telling us to buy those pullbacks using the Wave
pattern and double-top/bottom pattern going with the trend this morning.
With the anchor chart moving higher, we move to the set-up chart
and we can see that this is opposite to the anchor. We want to see trade set-ups in the same
direction as the anchor chart long-term trend and this is NOT the case on the
euro.
and we can see that this is opposite to the anchor. We want to see trade set-ups in the same
direction as the anchor chart long-term trend and this is NOT the case on the
euro.
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| Euro Set Up Chart |
The plan now will be to either sell short with a more aggressive
entry against the long-term trend, or to stay patient waiting for a buying
opportunity later in the session after the set-up chart turns higher.
entry against the long-term trend, or to stay patient waiting for a buying
opportunity later in the session after the set-up chart turns higher.
