November 8, 2012
- in Uncategorized by schooloftrade
Euro Currency anchor Chart Prep:
We can see
the bull price-channel and the bull price-wedge in the short term. We are trading directly at the lows of the price-wedge
and right on top of the PLOD.
We want to
buy these lows, however, it appears the euro is a little too weak for us right
now. If the market personality pushes
lower we want to be SELLERS because the buyers will have clearly failed.
buy these lows, however, it appears the euro is a little too weak for us right
now. If the market personality pushes
lower we want to be SELLERS because the buyers will have clearly failed.
Our day
trading strategy for the euro is to buy these lows if the sellers are unsuccessful
with moving it and KEEPING it lower. Below
the PLOD we are bearish, so if these buyers fail, we’re selling all the way
down to 1.2600 big-round-number and trigger-zone support.
trading strategy for the euro is to buy these lows if the sellers are unsuccessful
with moving it and KEEPING it lower. Below
the PLOD we are bearish, so if these buyers fail, we’re selling all the way
down to 1.2600 big-round-number and trigger-zone support.
[ALERT] As we review we are hearing from PresidentDraghi’s speech that they have a very pessimistic view of the next quarter for
the EU. Sounds like the bears are back
out at the ECB!
