Euro Anchor Chart Prep

The euro is
moving lower this morning off the highs from yesterday, and we know that the
traders in the European session this morning made their money using the InsideOut
Set-up short as price came back into the range from Wednesday.  Now we find ourselves in the middle and we
need to sit-on-hands and wait for the re-test of the highs or the initial test
of the lows for the high-percentage-trades today.

We can see
symmetry resistance at 1.3180 which will be an excellent location for a price-reversal
and then a short position with the entry signal. 

The anchor
chart shows us some concerning price-structures this morning.  We can see the bearish price-channel in the
long term has turned into a short term bullish price-channel.  This illustrates how we can have a short term
trend that is the opposite of the long term trend.  The most important thing to remember about
this anchor chart is that the bearish long term price-channel tells us the high-percentage-trades
will occur selling the highs of the bear price-channel, so beware trying to buy
with the short term bull channel if it puts us too close to this resistance.

Our day
trading plan for the euro is to stay patient and wait for the price-action to
re-test the highs or test the lows of the range so we can buy-the-lows at support
and sell-the-high at resistance.  If we
stay in the middle of the range we must sit-on-hands and wait for more market
personality.