October 4, 2013
- in Uncategorized by schooloftrade
Euro Day trading strategy; SchoolOfTrade.com
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| Euro Anchor Chart |
The Euro is falling lower this morning off the new highs at
3649 earlier this week. We can see a
bullish price-channel and a green/bullish ‘cloud’ which tells us the long-term
trend is bullish and that we should buy at the lows of the price-channel and at
major support levels below us.
3649 earlier this week. We can see a
bullish price-channel and a green/bullish ‘cloud’ which tells us the long-term
trend is bullish and that we should buy at the lows of the price-channel and at
major support levels below us.
We can also see that the short-term trend is bearish, and
that means we may sell short this morning on the way down to the lows of this
bull price-channel, but we need to remember the long-term trend is bullish.
that means we may sell short this morning on the way down to the lows of this
bull price-channel, but we need to remember the long-term trend is bullish.
Our day trading plan for the euro is to wait patiently around
the PLOD at 3589 looking for clues for the next move higher or lower. We can anticipate a range-bound market on the
euro because of the opening-print which means we will buy the lows and sell the
highs of the range.
the PLOD at 3589 looking for clues for the next move higher or lower. We can anticipate a range-bound market on the
euro because of the opening-print which means we will buy the lows and sell the
highs of the range.
We will buy the PLOD at 3589 with the Wave pattern we see to
get long and use the 3616 as our profit-target.
get long and use the 3616 as our profit-target.
