May 17, 2013
- in Uncategorized by schooloftrade
Euro Currency Futures day trading plan
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| Euro 60-Minute |
The 60-Minute
anchor chart shows us moving lower this morning with a wide open space below us
all the way down to the 2780 buy-zone.
We can see a previous price-wedge has broken to new lower-lows and we
know there are sell-zones above us at 2873 and 2909 which will make for easy selling
opportunities if this price-action bounces back higher.
 |
| Euro 5 Renko |
The Entry
chart on the euro shows us BIG CLUES.
First we see a bear price-channel and we’re trading at the lows of this price-price-channel,
which tells us that this market personality is likely oversold in the short
term. The second thing we see double-bottom
which is a selling opportunity for us when price retraces off these lows and
tests the sell-zone at 2840 to 2846. The
third clue is the symmetry support at 2814 which also gives credibility to the
sellers being oversold and giving us the chance to see a price-reversal and
rising prices.
chart on the euro shows us BIG CLUES.
First we see a bear price-channel and we’re trading at the lows of this price-price-channel,
which tells us that this market personality is likely oversold in the short
term. The second thing we see double-bottom
which is a selling opportunity for us when price retraces off these lows and
tests the sell-zone at 2840 to 2846. The
third clue is the symmetry support at 2814 which also gives credibility to the
sellers being oversold and giving us the chance to see a price-reversal and
rising prices.
 |
| Euro 5 Minute |
The biggest
clue on this entry chart is possibly the PLOD at 2846 and 2848 which tells us
that if price-action moves back above those price levels we will then see the
sellers fail and the buyers will reclaim control and price will rise.
clue on this entry chart is possibly the PLOD at 2846 and 2848 which tells us
that if price-action moves back above those price levels we will then see the
sellers fail and the buyers will reclaim control and price will rise.
