September 4, 2013
- in Uncategorized by schooloftrade
Euro Day trading strategy
9:00am EST
We made money on the Crude Oil Breakout Trade at 900am EST today.
9:30am EST
Euro Currency Futures Analysis:
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| Euro VIP Chart |
We are seeing low volume, trading in the middle of Tuesday’s
range and with a very narrow and flat ‘cloud’ which all tell us that something
is keeping this market personality from moving well today. What are we waiting for on the Euro?
range and with a very narrow and flat ‘cloud’ which all tell us that something
is keeping this market personality from moving well today. What are we waiting for on the Euro?
We can use the PLOD as support and the PHOD as resistance and
we know that trading in the middle of this range is going to higher-risk.
we know that trading in the middle of this range is going to higher-risk.
If we move above the PHOD we are now bullish and we will use
the wave-pattern-long to buy. If we move
below the PLOD we are bearish and will use the wave-pattern-short to sell.
the wave-pattern-long to buy. If we move
below the PLOD we are bearish and will use the wave-pattern-short to sell.
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| Euro Anchor Chart 1 |
The 5400-tick anchor chart has price-action trading lower
this morning, below the major support at 3187 and now heading to test the support
at 3105. We will be watching the Dollar-Index-correlation
closely today because the Euro is tied very closely to the Dollar-Index. Look for the Dollar-Index to make new higher-highs
and then look for the wave-pattern-short on the euro to take the trade.
this morning, below the major support at 3187 and now heading to test the support
at 3105. We will be watching the Dollar-Index-correlation
closely today because the Euro is tied very closely to the Dollar-Index. Look for the Dollar-Index to make new higher-highs
and then look for the wave-pattern-short on the euro to take the trade.
It appears that 1.3200 is a reversal-line on this chart, because
if we get back above that big-round-number we will be back above the cloud, and
we will have failed below the 3187 support.
We will consider buying opportunities if we get back above the 3200 big-round-number.
if we get back above that big-round-number we will be back above the cloud, and
we will have failed below the 3187 support.
We will consider buying opportunities if we get back above the 3200 big-round-number.
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| Euro Anchor Chart 2 |
The 1800-tick chart shows us a long-term trend is almost
ready to reverse and give us a bullish trend at the support level of 3171. When the 1800-tick anchor chart changes to
bullish, our next step will be looking for the wave-pattern-long on the entry
chart.
ready to reverse and give us a bullish trend at the support level of 3171. When the 1800-tick anchor chart changes to
bullish, our next step will be looking for the wave-pattern-long on the entry
chart.
