February 8, 2012

Euro day trading strategy

The Euro Currency Futures are trading in a recent price wedge with a double bottom giving us lots of resistance overhead.

If price rises we look to sell the double-bottom resistance levels overhead, and then buying  pullbacks above 1.3300 after looking for the fake-out breakout.  if price falls below the PHOD we want to sell this down to the PLOD, and sell more below the price wedge highs.  Look for price to move from PHOD to PLOD easily if we get back the wedge highs.

Day Trading Strategy Euro Currency Futures

the Euro 34-range chart further-refines our day trading strategy this morning.  Buying pullbacks above 1.3300 after looking for the selling opportunity first, and then selling below 1.3234 when we fail below the PHOD and then break below the Double-Bottom resistance and swing low of 3242 and 3234.

    schooloftrade

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