December 11, 2012
- in Uncategorized by schooloftrade
Euro Day trading plan
| Euro Day trading plan |
We can see
the euro this morning has bounced off the trigger-zone on this 89-range anchor
chart, which tells us that we are looking for another selling opportunity, or
we will see price continue higher up to the big-round-number of 1.3000.
the euro this morning has bounced off the trigger-zone on this 89-range anchor
chart, which tells us that we are looking for another selling opportunity, or
we will see price continue higher up to the big-round-number of 1.3000.
We are looking
for the signs of a price-reversal right now on the euro so we can get short
once again.
for the signs of a price-reversal right now on the euro so we can get short
once again.
If price
moves higher we will see the 1.3000 big-round-number come into play, and the
red rectangle is the trigger-zone resistance from the most recent swing-low. If we can test the 1.3000 – 1.3035 range (trigger-zone)
we will then be looking for the ideal short entry back down to the 1.2900,
1.2845, and all the way down to the 1.2739 lows.
moves higher we will see the 1.3000 big-round-number come into play, and the
red rectangle is the trigger-zone resistance from the most recent swing-low. If we can test the 1.3000 – 1.3035 range (trigger-zone)
we will then be looking for the ideal short entry back down to the 1.2900,
1.2845, and all the way down to the 1.2739 lows.
If price
falls lower, without testing the 1.3000 we need to look for the 3 signs of a price-reversal. We are looking for the wave-pattern-long to
fail, or a 2step pattern short to get into the short position this morning and
try to test the PHOD 2962 and 1.2900 for our profit-targets.
falls lower, without testing the 1.3000 we need to look for the 3 signs of a price-reversal. We are looking for the wave-pattern-long to
fail, or a 2step pattern short to get into the short position this morning and
try to test the PHOD 2962 and 1.2900 for our profit-targets.
