March 9, 2012
- in Uncategorized by schooloftrade
Euro currency futures price wedge day trading strategy
We can see the price wedge on the euro inside the major bull
price channel and we’re trading at the PLOD so if we can get below the PLOD we
sell retracements and if the sellers fail below PLOD and price comes back up
above PLOD we buy the failure. Beware the
euro is going to react to the dollar index market personality so use the dollar
index correlation when trading the euro.
price channel and we’re trading at the PLOD so if we can get below the PLOD we
sell retracements and if the sellers fail below PLOD and price comes back up
above PLOD we buy the failure. Beware the
euro is going to react to the dollar index market personality so use the dollar
index correlation when trading the euro.
As price rises I’m selling the highs of the price
wedge and the PHOD as resistance first, and then with strong buyers I will then
buy pullbacks with new higher-highs above PHOD.
If price falls I’m selling below the PLOD and then looking for the
sellers to fail and we buy when price goes back above the PLOD. I am going to buy the lows of the price wedge
and the 1.3096 support below the price wedge.
I will then sell retracements below 1.3096 only after looking for fake-out
breakout.
