March 22, 2012
- in Uncategorized by schooloftrade
Euro day trading strategy uses the price wedge structure
The euro is trading in the middle of the range in the middle
of the price wedge and just below the PLOD.
The sellers were not quite strong enough to finish the move lower to the
price wedge lows, and when the buyers push this higher we will buy this above
the PLOD.
As price rises I’m buying the euro above the PLOD, and as
price falls I’m selling new lower-lows with retracements and taking profit at
the price wedge lows. I will also look
to buy the support at the lows of the price wedge if price can make it lower to
the 1.3055 where we have a lot of support to help us buy the lows.
price falls I’m selling new lower-lows with retracements and taking profit at
the price wedge lows. I will also look
to buy the support at the lows of the price wedge if price can make it lower to
the 1.3055 where we have a lot of support to help us buy the lows.
We can see a short term double-top on the 55
range chart of the euro so now we have additional support on the way down to
buy.
