February 27, 2013
Euro Anchor Chart Prep
Euro Anchor Chart Prep |
We can see
the euro looking much like other Futures markets this morning, trading sideways
in the middle of the range from yesterday and in the middle of the price-wedge and
bear price-channel on our anchor chart.
the euro looking much like other Futures markets this morning, trading sideways
in the middle of the range from yesterday and in the middle of the price-wedge and
bear price-channel on our anchor chart.
We can see
the double-top (actually a 5-top) has provided with major support starting at
1.3015, 1.2980 and 1.2935 so we will be looking for the sellers to stall,
followed by a price-reversal and entry signal long to buy at this support.
the double-top (actually a 5-top) has provided with major support starting at
1.3015, 1.2980 and 1.2935 so we will be looking for the sellers to stall,
followed by a price-reversal and entry signal long to buy at this support.
One of the
most important clues we have is the bear price-channel because if we get new higher-highs
and a breakout of the price-wedge we will be looking for the resistance at the
highs of the price-channel to provide us with a high-percentage-trade to get
short with a profit-target back at the lows of the price-wedge below us.
most important clues we have is the bear price-channel because if we get new higher-highs
and a breakout of the price-wedge we will be looking for the resistance at the
highs of the price-channel to provide us with a high-percentage-trade to get
short with a profit-target back at the lows of the price-wedge below us.
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Euro ENTRY Chart Prep |
Our day
trading plan the euro is to plan for all three scenarios; what if price rises,
falls, or goes sideways. If price trades
sideways we’re sitting-on-hands. If price
trades higher we are selling the highs of the bear price-channel, and if price
moves lower we are buying the support from the double-top. In both scenarios, long or short, we use the price-wedge
as our profit-target.
trading plan the euro is to plan for all three scenarios; what if price rises,
falls, or goes sideways. If price trades
sideways we’re sitting-on-hands. If price
trades higher we are selling the highs of the bear price-channel, and if price
moves lower we are buying the support from the double-top. In both scenarios, long or short, we use the price-wedge
as our profit-target.
