August 5, 2013
- in Uncategorized by schooloftrade
Euro day trading strategy
Euro Anchor Chart:
 |
| Euro Anchor Chart |
The slowest
time frame we use for the euro shows price-action trading in the middle of a sideways-trading-range
and price-wedge. We are in the middle of
this range, and sitting on top of major support at this time.
time frame we use for the euro shows price-action trading in the middle of a sideways-trading-range
and price-wedge. We are in the middle of
this range, and sitting on top of major support at this time.
This tells
us that selling short is going to be more difficult with the major support at
3245 and 3231, however, a break below 3231 and we can indeed get short very easily
from there do to the next support for a profit-target at 3212. We also must be aware that the middle of the trading-range
is ALWAYS going to be a higher-risk area of entering trades. We want to enter SHORT at the highs and LONG
at the lows.
us that selling short is going to be more difficult with the major support at
3245 and 3231, however, a break below 3231 and we can indeed get short very easily
from there do to the next support for a profit-target at 3212. We also must be aware that the middle of the trading-range
is ALWAYS going to be a higher-risk area of entering trades. We want to enter SHORT at the highs and LONG
at the lows.
Euro 5-Minute:
 |
| Euro 5-Minute Chart |
Direction is
moving lower this morning on the 5-minute anchor chart, and with price-action below
the PHOD we have an InsideOut Set-up that triggered earlier in the session
around 430am EST, and we are also below the lows from the London trading
Session at 3266. All of these signals
are telling us to sell short this morning.
moving lower this morning on the 5-minute anchor chart, and with price-action below
the PHOD we have an InsideOut Set-up that triggered earlier in the session
around 430am EST, and we are also below the lows from the London trading
Session at 3266. All of these signals
are telling us to sell short this morning.
Look closely
and we can see an excellent location to get SHORT right now at the highs of the
bear price-channel.
and we can see an excellent location to get SHORT right now at the highs of the
bear price-channel.
Euro Set-up:
 |
| Euro Entry Chart |
The Euro set-up
chart shows us the bearish price-channel and the new lower-lows which are all
telling us to sell short this morning using our Wave pattern entry.
chart shows us the bearish price-channel and the new lower-lows which are all
telling us to sell short this morning using our Wave pattern entry.
We know that
the anchor chart has support at 3231 so we want to sell short on the euro below
the 3231 and we will use a profit-target at the lows of the price-wedge on the
anchor chart at 3212.
the anchor chart has support at 3231 so we want to sell short on the euro below
the 3231 and we will use a profit-target at the lows of the price-wedge on the
anchor chart at 3212.
