April 18, 2012
- in Uncategorized by schooloftrade
Euro day trading strategy
The euro is trading sloppy and
lacking any consistency this morning as it trades below the range from Tuesday. We have an outside day below the PLOD so we’re
looking to sell retracements with new lower-lows. If price cannot drop lower on the euro we
then will buy above the PLOD when the sellers fail, giving us a an easy fake-out
breakout. Look to buy above 1.3100 as
price moves back above the lows of yesterday’s trading range.
lacking any consistency this morning as it trades below the range from Tuesday. We have an outside day below the PLOD so we’re
looking to sell retracements with new lower-lows. If price cannot drop lower on the euro we
then will buy above the PLOD when the sellers fail, giving us a an easy fake-out
breakout. Look to buy above 1.3100 as
price moves back above the lows of yesterday’s trading range.
As price falls I’m buying the lows in the 1.3000
area as major support. And I cant sell retracements
until we get below 1.2941 if we hit the lows of this price wedge.
area as major support. And I cant sell retracements
until we get below 1.2941 if we hit the lows of this price wedge.
