June 10, 2013

Euro day trading plan

Euro 60-Minute Chart
The euro is
trading in a narrow sideways-trading-range with the buy and sell-zones above
and below us, almost trapping the price-action into this range.  We can see a bullish price-channel with the
lows around 1.3150 and we will use these lows as a selling profit-target or a buying
opportunity.  I think the high-percentage-trades
will occur AFTER we move higher or lower this morning.  If price-action moves lower we look to sell
short down to the lows of the price-wedge and the price-channel around 1.3150
and then we look to buy these lows with a profit-target back at the highs of
the price-wedge around 1.3250.  If price-action
moves higher this morning we will sell-the-high at resistance of the price-wedge
around 1.3250 with a profit-target at the lows of the price-wedge.  Remember, the bull price-channel is our
biggest clue, telling us that buying the lows and buying at support will
produce the high-percentage-trades this morning.

    schooloftrade

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