February 22, 2012

Euro day trading strategy uses the slower timeframe first

Euro day trading strategy uses the slower timeframe first
and we used a 233 range chart to begin with so we can see the major levels
above us and below.  We can see the bear price
channel,  AB=CD pattern projection but
the most important thing to consider is the price wedge.

The faster 89 range chart doesn’t show us that much more, as
we look for more clues on multiple timeframes. 
We can see a bearish AB=CD pattern and the short term bull price channel,
but again our biggest concern is the price wedge and the inside day.

The 89 range chart shows us the major support at the lows of
the price channel using our advanced price-structures to tell us where the best
buying opportunities will be if price falls. 
If price moves above PHOD buy pullbacks and if price moves below PLOD and
1.3182 we sell retracements.

We get more refined day trading strategy for euro on the 55
range chart.  We can see enough room to
buy pullbacks above the PHOD and we need to wait to get below 3180 to sell retracements.  Buy the PLOD as support and sell the PHOD as
resistance.

As price falls I’m buying at PLOD and at
support, and then if we break the support we sell retracements.  If price rises I’m selling the price wedge highs
as resistance along with the PHOD and if price moves higher I will look for fake-out
breakout first (/c of the price wedge) and then buy pullbacks.

Euro Day Trading strategy

    schooloftrade

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