April 11, 2012
- in Uncategorized by schooloftrade
Euro day trading strategy
The 89 range chart on the euro currency futures shows us the
major bull price channel with the bull price wedge and the advanced
price-structures support at 1.3095 and 1.3055 so we need to buy at these lows.
major bull price channel with the bull price wedge and the advanced
price-structures support at 1.3095 and 1.3055 so we need to buy at these lows.
We can buy the price wedge lows or we can buy the support
levels below the price wedge lows.
levels below the price wedge lows.
If price moves HIGHER we will look to buy pullbacks above the PHOD and the 1.3233 89r trigger line as resistance. We MAY be able to sell the PHOD if the buyers fail, but remember the DX correlation today may keep us to the LONG side on the Euro this morning.
We can buy the support below us at 1.3053 PLOD, 1.3037,
1.3009, 1.2941, and 1.2983 as price moves lower. If price gets below 1.2941 we then know this
bull price wedge and price channel have been broken and with strong sellers we
sell retracements.
1.3009, 1.2941, and 1.2983 as price moves lower. If price gets below 1.2941 we then know this
bull price wedge and price channel have been broken and with strong sellers we
sell retracements.
