August 7, 2013
- in Uncategorized by schooloftrade
Euro day trading strategy
 |
| Euro Anchor Chart |
Euro is trading sideways
in the short term trend, but overall we are moving higher since the beginning
of July. This sideways-trading-range tells
us to be patient this morning to wait for a new higher-high and then look for Wave
patterns to buy pullbacks with the long-term trend going higher. Just beware if we go higher, we need to get
long ABOVE the trend-line resistance around 1.3330 area.
 |
| Euro Entry Chart |
If price-action makes new
lower-lows we can indeed sell short down to the price-channel lows for a profit-target. Once we take a profit-target at the lows we
can then buy the lows of the price-channel for the high-percentage-trades we
will see today.
lower-lows we can indeed sell short down to the price-channel lows for a profit-target. Once we take a profit-target at the lows we
can then buy the lows of the price-channel for the high-percentage-trades we
will see today.
We can see the upward
momentum and slightly-bullish market sentiment on the 987-tick entry chart this
morning.
momentum and slightly-bullish market sentiment on the 987-tick entry chart this
morning.
 |
| Euro 5-Minute VIP Chart |
We can see the Dollar-Index is
moving lower, and when the Dollar-Index moves lower the negative correlation
will push the euro higher. We want to
sell the highs of the range first using a 2step pattern short pattern. If we break to new higher-highs and the market
personality appears to be strong we will look for the wave-pattern-long to buy pullbacks
above the 1.3330 area on this chart.
moving lower, and when the Dollar-Index moves lower the negative correlation
will push the euro higher. We want to
sell the highs of the range first using a 2step pattern short pattern. If we break to new higher-highs and the market
personality appears to be strong we will look for the wave-pattern-long to buy pullbacks
above the 1.3330 area on this chart.
