August 2, 2013
- in Uncategorized by schooloftrade
Euro day trading strategy
Euro Anchor Chart:
 |
| Euro Anchor Chart |
We are
trading right in the middle of this sideways-trading-range on the Euro anchor
chart this morning after the Non-Farm Payroll report was released.
trading right in the middle of this sideways-trading-range on the Euro anchor
chart this morning after the Non-Farm Payroll report was released.
We can see trigger-zones
below us at 3172 and 3071, and we’ve drawn trend-lines above and below to
create a simple price-wedge structure.
below us at 3172 and 3071, and we’ve drawn trend-lines above and below to
create a simple price-wedge structure.
We want to
buy the lows and sell the highs of this price-wedge, staying away from entering
in the MIDDLE.
buy the lows and sell the highs of this price-wedge, staying away from entering
in the MIDDLE.
Euro Set-up:
 |
| Euro Set-Up Chart |
We found a
very easy trading-range from 3287 down to 3187 that we will use to trade with
this morning.
very easy trading-range from 3287 down to 3187 that we will use to trade with
this morning.
We also
found a double-top at the highs of this range, which gave us three (3) levels
of support to work with at 3239, 3224, and 3205. We will use these levels for profit-targets
as we get short, or locations for a price-reversal to look for buying
opportunities.
found a double-top at the highs of this range, which gave us three (3) levels
of support to work with at 3239, 3224, and 3205. We will use these levels for profit-targets
as we get short, or locations for a price-reversal to look for buying
opportunities.
