Euro currency futures trading strategy

The Euro Currency Futures are trading in a price wedge at major resistance and the big round number of 1.3200.  We have the dollar index in a price wedge, and the euro has been sloppy because of this.  We want to use the euro price wedge as the most important clue, and then remember we have the dollar index correlation and we are ABOVE the Previous High of Day from monday so looking to buy pullbacks once we clear above the overhead resistance.

Euro Day Trading Strategy

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The faster timeframe 55-range chart shows us much more value this morning.  We can see the price wedge, the double-bottom, and the outside day on this timeframe much easier and we can plan our attack with the small circles to illustrate what our plan is if price rises or if price falls.

The final stop on the euro is the much faster 21 range chart which shows us the same information as the slower tiemframes but also give us much more detailed info to use in our day trading strategy.  The trading strategy is the same, sell the wedge highs, and then with new higher highs look to buy a pullback after we make sure the fake-out breakout is not happening.  Remember a price wedge is always the biggest clue for fake-out breakouts so beware buying at the highs.