March 20, 2012
- in Uncategorized by schooloftrade
Euro currency futures trading at the highs of the short term price wedge
The euro trading in a price wedge structure and just about
to test the highs of the price wedge. We
want to sell as price is rising into resistance and then once the resistance is
broken we can start buying pullbacks above 1.3310. just remember to look for the fake-out
breakout above the resistance at 3310. The
price wedge structure always tells us to watch for fake-out breakouts.
to test the highs of the price wedge. We
want to sell as price is rising into resistance and then once the resistance is
broken we can start buying pullbacks above 1.3310. just remember to look for the fake-out
breakout above the resistance at 3310. The
price wedge structure always tells us to watch for fake-out breakouts.
If price doesn’t rise higher we need to be patience to buy
the lows/support of the bull price channel around 1.3200 and if price keeps
moving lower we buy 1.3178 because the price channel tells me to buy at support
as price falls.
the lows/support of the bull price channel around 1.3200 and if price keeps
moving lower we buy 1.3178 because the price channel tells me to buy at support
as price falls.
Right now the euro sits at the open, so we sit
on hands.
