September 3, 2013
- in Uncategorized by schooloftrade
Euro Day trading strategy
10:00am EST
2013 Members Summit & Trading Seminar
Euro Currency Futures Analysis:
 |
| Euro 30-Minute VIP Chart |
We open the 30-minute VIP chart of the Euro and we see a very
concerning bit of price-action on this chart.
First, we can see the narrow trading-range we are currently within from
3189 down to 3158. Second, we can see price-action
is in the middle of the overnight trading session (London) which tells us that
the sellers and the buyers are both in agreement at this time for who is in
control. This sounds like a good thing,
but in reality when the market personality is ‘in balance’ we don’t have any
volatility which is what we need to get price-action moving and get winning
trades on our account. Without the
volatility we must sit-on-hands today and stay patient.
concerning bit of price-action on this chart.
First, we can see the narrow trading-range we are currently within from
3189 down to 3158. Second, we can see price-action
is in the middle of the overnight trading session (London) which tells us that
the sellers and the buyers are both in agreement at this time for who is in
control. This sounds like a good thing,
but in reality when the market personality is ‘in balance’ we don’t have any
volatility which is what we need to get price-action moving and get winning
trades on our account. Without the
volatility we must sit-on-hands today and stay patient.
 |
| Euro 5400-tick |
The Euro is moving lower this morning on our anchor charts,
with new lower-lows below the 3187 support level on the 5400-tick chart. We can see a wide open space below the 3187
all the way down.
with new lower-lows below the 3187 support level on the 5400-tick chart. We can see a wide open space below the 3187
all the way down.
(SY) US President Obama
reiterates that a limited strike is necessary in Syria with no troops on the
ground- US has a broader strategy that will allow increased aid to the
opposition forces, will ask for a prompt vote from Congress regarding the Syria
mission– SourceTradeTheNews.com
reiterates that a limited strike is necessary in Syria with no troops on the
ground- US has a broader strategy that will allow increased aid to the
opposition forces, will ask for a prompt vote from Congress regarding the Syria
mission– SourceTradeTheNews.com
10:00am EST
*(US) AUG ISM
MANUFACTURING: 55.7 V 54.0E; ISM PRICES PAID: 54.0 V 51.6ESub Indices: – New
Orders Index: 63.2 v 58.3 prior (highest since April 2011) – Production index:
62.4 v 65.0 prior – Employment Index: 53.3 v 54.4 prior – Inventories index:
47.5 v 47.0 prior – Spread (new orders to inventories): 15.7 v 11.3 prior –
ISM’s Holcomb– SourceTradeTheNews.com
MANUFACTURING: 55.7 V 54.0E; ISM PRICES PAID: 54.0 V 51.6ESub Indices: – New
Orders Index: 63.2 v 58.3 prior (highest since April 2011) – Production index:
62.4 v 65.0 prior – Employment Index: 53.3 v 54.4 prior – Inventories index:
47.5 v 47.0 prior – Spread (new orders to inventories): 15.7 v 11.3 prior –
ISM’s Holcomb– SourceTradeTheNews.com
*(US) JULY CONSTRUCTION
SPENDING M/M: 0.6% V 0.4%E- Prior MoM revised higher from -0.6% to 0.0%– SourceTradeTheNews.com
SPENDING M/M: 0.6% V 0.4%E- Prior MoM revised higher from -0.6% to 0.0%– SourceTradeTheNews.com
10:30am EST
 |
| Euro 1800-tick |
The Euro gives us no reason to do anything but sell short
this morning. The only concern we have
is the sleepy market personality after the end of the summer.
this morning. The only concern we have
is the sleepy market personality after the end of the summer.
We can see ample amounts of wide open space below the support
zone at 3171 and our profit-target for selling-opportunities is the 3094 support
zone below. We have resistance overhead
at 3244, 3260, 3276 and 3297 before we test the big-round-number of 3300.
zone at 3171 and our profit-target for selling-opportunities is the 3094 support
zone below. We have resistance overhead
at 3244, 3260, 3276 and 3297 before we test the big-round-number of 3300.
