February 21, 2012

Euro day trading strategy

The euro day trading strategy accounts for price trading at
the price wedge highs and the highs from Monday’s trading range.  We want to sell these highs first and then if
the buyers are strong enough we will be pullbacks with new higher-highs

So the most important aspects to this day trading strategy will
be the price wedge and the inside day structure.  We want to buy the lows and sell the highs of
the range we are in, but we also want to sell the price wedge highs.

Euro day trading strategy

The faster 55-range chart on the euro currency futures helps
refine our day trading strategy and we can see the price wedge, the PHOD and PLOD
and the resistance above the price wedge along with the support below the price
wedge.  As price rises I’m selling the price
wedge highs and the resistance overhead. 
I will buy a pullbacks after looking for fake-out breakout first above
1.3325.  if price falls we will buy the PLOD
as support but if price goes below the PLOD the ‘bloods in the water’ and we
will sell retracements down to the trigger-zone support of 3135 and 3100 which
make profit targets for the selling opportunities.  I will then look to buy the price wedge lows
and if price moves lower I will buy the support below the price wedge lows as
far down as 1.2975

    schooloftrade

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