March 4, 2013
- in Uncategorized by schooloftrade
Euro Anchor Chart Prep
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Euro Anchor Chart Prep |
The euro has
traded lower this morning as it moves inside the bearish price-channel. We can see we are oversold on the anchor
chart and moving lower. Considering we
have broken new lower-lows below the 3060 support zone we will now feel
confident looking for selling opportunities
on the way to the symmetry support 2860 and possibly the support at 2740 if
these sellers can bring it down further.
traded lower this morning as it moves inside the bearish price-channel. We can see we are oversold on the anchor
chart and moving lower. Considering we
have broken new lower-lows below the 3060 support zone we will now feel
confident looking for selling opportunities
on the way to the symmetry support 2860 and possibly the support at 2740 if
these sellers can bring it down further.
The entry
chart timeframe on the euro shows us the bearish price-channel and a short-term
trend that is sideways. We can see the PLOD
and PHOD have not been tested therefor we do not have the InsideOut Set-up at
this time, however, we may get this price-action moving higher or lower as the
morning develops.
chart timeframe on the euro shows us the bearish price-channel and a short-term
trend that is sideways. We can see the PLOD
and PHOD have not been tested therefor we do not have the InsideOut Set-up at
this time, however, we may get this price-action moving higher or lower as the
morning develops.
 |
Euro Entry Chart Prep |
If price
moves lower I’m looking to sell short with new lower-lows below the 2972 support
and if the sellers fail to keep price-action below this level we will use the InsideOut
Set-up to get LONG back above the PLOD and use the PHOD as our final profit-target.
moves lower I’m looking to sell short with new lower-lows below the 2972 support
and if the sellers fail to keep price-action below this level we will use the InsideOut
Set-up to get LONG back above the PLOD and use the PHOD as our final profit-target.
As price-action
moves higher this morning we know to sell the highs of a bear price-channel,
and we can also see the PHOD at 1.3100 big-round-number which will be a price-magnet
and another place to look for a selling opportunity. We want to sell short at the price-channel highs
and then sell short if the buyers try and fail to move above the PHOD.
moves higher this morning we know to sell the highs of a bear price-channel,
and we can also see the PHOD at 1.3100 big-round-number which will be a price-magnet
and another place to look for a selling opportunity. We want to sell short at the price-channel highs
and then sell short if the buyers try and fail to move above the PHOD.
