November 1, 2012
- in Uncategorized by schooloftrade
Euro Currency Futures Morning Prep:
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| Dollar Index |
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| Euro Futures |
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| Euro Anchor Chart |
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| Euro Pattern Chart |
Our first
stop is with the Dollar-Index correlation, which is the strongest with the
euro.
stop is with the Dollar-Index correlation, which is the strongest with the
euro.
The Dollar-Index
has been falling with new lower-lows and lower-highs giving us a bearish market
sentiment on the Dollar-Index.
has been falling with new lower-lows and lower-highs giving us a bearish market
sentiment on the Dollar-Index.
With the
bears in control of the Dollar-Index, the euro futures have been rising, above
the PLOD and giving us the exact opposite we saw from the Dollar-Index.
bears in control of the Dollar-Index, the euro futures have been rising, above
the PLOD and giving us the exact opposite we saw from the Dollar-Index.
We can only
assume that if this Dollar-Index continues to be bearish, the euro will
continue to rise, so we are using the wave-pattern-long and the breaker pattern
to enter this market buying at support.
assume that if this Dollar-Index continues to be bearish, the euro will
continue to rise, so we are using the wave-pattern-long and the breaker pattern
to enter this market buying at support.
We are
trading INSIDE DAY above the PLOD after the sellers failed to push it
lower. BIG BULLISH CLUE. We will look for buying opportunities above
the PLOD with a profit-target at the PHOD.
trading INSIDE DAY above the PLOD after the sellers failed to push it
lower. BIG BULLISH CLUE. We will look for buying opportunities above
the PLOD with a profit-target at the PHOD.
We can see a
double-bottom and a double-top on the 21range chart, which provides us with
overhead resistance at 1.3020 and support below us at 1.2870.
double-bottom and a double-top on the 21range chart, which provides us with
overhead resistance at 1.3020 and support below us at 1.2870.
The 89range
chart shows us the bull price-channel, the sideways price-wedge, the multiple
trading ranges, and the price-action looks like we are right in the middle of
this.
chart shows us the bull price-channel, the sideways price-wedge, the multiple
trading ranges, and the price-action looks like we are right in the middle of
this.
As price
rises higher I’m buying pullbacks trying to move price up to the profit-target at
the trend line resistance and then the PHOD.
If price keeps moving higher we will buy the breakout above the 1.3029 PHOD
as the buyers will be in control.
rises higher I’m buying pullbacks trying to move price up to the profit-target at
the trend line resistance and then the PHOD.
If price keeps moving higher we will buy the breakout above the 1.3029 PHOD
as the buyers will be in control.
As price
moves lower I am selling below the PLOD with the profit-target at the trend
line support below it. If price keeps
moving lower we cannot sell until we get below 1.2813 because of all the trend
lines and the support below us. As price
falls we are taking profit on the short and looking to buy the support levels
at the trend line, 1.2887, 1.2833 and 1.2813.
moves lower I am selling below the PLOD with the profit-target at the trend
line support below it. If price keeps
moving lower we cannot sell until we get below 1.2813 because of all the trend
lines and the support below us. As price
falls we are taking profit on the short and looking to buy the support levels
at the trend line, 1.2887, 1.2833 and 1.2813.
