August 7, 2012
- in Uncategorized by schooloftrade
Morning FDAX Checklist:
OHLC
Analysis:
Analysis:
We are 4 for
4 new higher-highs so this market is bullish, however, we can see the 4am EST
highs of 6980.0. Keep an eye out for the
price-reversal off this high if we cannot break above it.
4 new higher-highs so this market is bullish, however, we can see the 4am EST
highs of 6980.0. Keep an eye out for the
price-reversal off this high if we cannot break above it.
Are we
inside or outside day today?
inside or outside day today?
Above the
PHOD we are outside trading day
PHOD we are outside trading day
What
price-structures do we see?
price-structures do we see?
· Trigger-zone is below us as support.
· AB=CD Patterns are both bearish and
both MAJOR.
both MAJOR.
· Price channel is bullish
Where
will a reversal be likely today?
will a reversal be likely today?
There are
two spots for the price-reversal. First,
if price can move to the price channel highs we will expect a price-reversal short
off the highs. Second, if the buyers
fail and we get below the PHOD this will signal the price-reversal has
triggered and we need to sell short.
two spots for the price-reversal. First,
if price can move to the price channel highs we will expect a price-reversal short
off the highs. Second, if the buyers
fail and we get below the PHOD this will signal the price-reversal has
triggered and we need to sell short.
What is
our trading plan for today?
our trading plan for today?
our trading plan this morning is to buy with wave-pattern-long
with new higher-highs looking for the final profit target up at the ‘D’ point
of the bearish AB=CD Pattern. We will
then look to sell those resistance levels at the highs of the price channel. If price falls off the current highs, we will
sell short below the PHOD and take our profit at the PLOD, the 15.5 support,
and the trigger-zone support for the final runner.
