Euro Anchor Chart Prep

We can see
the euro has broken out of the trading range from last Thursday and Friday and
the buyers appear to be struggling to keep these highs so we will use the InsideOut
Set-up to get short below either of the support levels below us starting at
1.3291, 1.3273, and 1.3247 and we have a profit-target at the PHOD 1.3247 if
you get in early, or the PLOD 1.3148 if we get in a bit later, OR if you want
to hold this position short with a runner.

We can see
major symmetry support at 1.3148 which is also the profit-target on our InsideOut
Set-up short, so look for this support level to be considered a price magnet
and we will use this as a profit-target for the short-sellers.

One of the
biggest clues we get today is from the anchor chart which provides us with
clear resistance at 1.3320 using the double-bottom we saw middle of last
week.  This resistance on the anchor
chart tells me that selling short using the InsideOut Set-up we discussed
earlier will be very high percentage.  Remember
the double-bottom set-up says to sell at the resistance and hold your position
short to re-test the double-bottom itself, and in this case this will also be
the same profit-target we’ve identified for the InsideOut Set-up.

Our day
trading plan for the euro is to sell short below the support levels below us
starting at 1.3291, and then down to 1.3273 and lastly at the PHOD 1.3247.  We will wait for price-action to make new lower-lows
below these support levels to get into the short position.  We will also use the PLOD and the double-bottom
(anchor chart) as our final profit-target at the 1.3148.