- in Uncategorized by schooloftrade
day trading strategy for euro currency futures
multiple timeframes, and the 89 range chart shows us the bull price channel and
the major AB=CD reversal zone as resistance overhead, but the most important
clues are the inside day, trend lines overhead as resistance, and the PLOD above
the trigger-zone support below us. If price
rises we sell the trend line resistance, and if price falls we buy the PLOD and
the trigger-zone support. Make sure to
avoid trading in the middle of the range from Monday.
We sue the much faster 34 range chart to refine
our day trading strategy for the euro.
We can see the bull price channel, the price wedge and in the inside
trading day below the PHOD and above the PLOD.
We want to use the price wedge as a big clue, and the bull price channel
as a directional bias. So if price falls
to new lower-lows we are looking for the sellers to fail and we will buy at
support below the price wedge and if the sellers are too strong we can then
look to sell retracements with new lower-lows below that support. If price breaks higher I’m selling the price
wedge highs, the range highs, the PHOD and the price channel highs as
resistance. I can buy pullbacks above
1.3500 but look for the fake-out breakout first as the price wedge is a big
clue for failures above and below.
