December 3, 2012
- in Uncategorized by schooloftrade
Euro day trading plan
We can see
the euro currency futures are trading in a sideways-trading-range with a
sideways price-wedge. We can see we are
trading above the PHOD from Friday. And we
have major resistance right above us as 1.3090.
the euro currency futures are trading in a sideways-trading-range with a
sideways price-wedge. We can see we are
trading above the PHOD from Friday. And we
have major resistance right above us as 1.3090.
We also
remember the Dollar-Index correlation will be one of the most important things
to consider when trading the euro currency futures.
remember the Dollar-Index correlation will be one of the most important things
to consider when trading the euro currency futures.
This price-structure
is a price-wedge which tells us the market personality says to look for the fake-out-breakout. This means that as price rises I’m selling at
the highs and selling the fake-out-breakout.
On the opposite side as price falls I’m buying at the lows and buying
with new lower-lows looking for another fake-out-breakout.
is a price-wedge which tells us the market personality says to look for the fake-out-breakout. This means that as price rises I’m selling at
the highs and selling the fake-out-breakout.
On the opposite side as price falls I’m buying at the lows and buying
with new lower-lows looking for another fake-out-breakout.
If pricerises to new higher-highs we are selling at the resistance levels above us because
they are also at the highs of the price-wedge.
Selling at 1.3090, 1.3147, 1.3183 and of course also selling at the
trend lines above us as resistance.
If price
moves lower it will be falling off the highs of the price-wedge, which means we
are looking to sell short. Using a 2step
pattern short or a wave-pattern-short we will sell the highs of the range and
use the PHOD and PLOD as ideal profit-targets.
moves lower it will be falling off the highs of the price-wedge, which means we
are looking to sell short. Using a 2step
pattern short or a wave-pattern-short we will sell the highs of the range and
use the PHOD and PLOD as ideal profit-targets.
