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Euro futures day trading strategy
short term ab=cd pattern, and trading inside the range from Monday with a short
term price wedge. We can see AB=CD
resistance overhead, and the price channel lows as support below, and we sit in
the middle of the range from Monday.
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| Day Trading Strategy Euro Currency Futures |
consider for this day trading strategy. We
can see the price wedge, the bull price channel, and the new clues we get are
the double-bottom, the ABCD structure from the price channel and the major trigger-zone
support below us.
Our trading plan this morning will be
simple. If price moves lower below the PLOD
we need to acknowledge the support below and look for buying opportunities at
the price wedge lows, price channel lows, and the swing-lows. If price moves higher we will buy pullbacks moving
off and above the PLOD and then sell / take profit at the price wedge highs,
and look for the price reversal off price wedge highs. If price keeps moving higher we will sell the
PHOD first as resistance and then sell the price wedge highs just above the PHOD
along with selling the 1.3325 overhead resistance.
Notice the 34 range chart on the euro shows us a new bear price channel and we can see that as price falls we look to buy and as price rises we look to sell. We cant sell until we get up to the wedge highs or below 1.3060
