August 22, 2012
- in Uncategorized by schooloftrade
Morning Euro Checklist:
 |
| EURO CHART PREP |
Heat
Map: What is it telling us?
Map: What is it telling us?
The heat map
isn’t too convincing with not a lot of volatility in this market at this
time. This may change so be prepared.
isn’t too convincing with not a lot of volatility in this market at this
time. This may change so be prepared.
Overnight
Highs & Lows:
Highs & Lows:
We have the
buyers failing above the overnight highs, and now we see the sellers are
struggling to keep pricing moving lower below the most recent swing-low.
buyers failing above the overnight highs, and now we see the sellers are
struggling to keep pricing moving lower below the most recent swing-low.
Are we
inside or outside day today?
inside or outside day today?
We are
trading inside this VERY wide trading range, so we know to buy at the lows and
sell at the highs, trying to avoid the middle of the short term trading range.
trading inside this VERY wide trading range, so we know to buy at the lows and
sell at the highs, trying to avoid the middle of the short term trading range.
What
price-structures do we see?
price-structures do we see?
· Trigger-zone we have multiple, and
they are resistance
they are resistance
· AB=CD Pattern is bullish, and really hasn’t
set-up yet until this price comes off the PHOD.
set-up yet until this price comes off the PHOD.
· Price-wedge is bullish b/c of the
bull price-channel.
bull price-channel.
Where
will a reversal be likely today?
will a reversal be likely today?
Right below
the PHOD we are likely to see the price-reversal as sellers take control and
the Dollar-Index rises higher.
the PHOD we are likely to see the price-reversal as sellers take control and
the Dollar-Index rises higher.
What is
our trading plan for today?
our trading plan for today?
If the Dollar-Index
moves higher we are selling the highs of this short term trading range just
below the PHOD. If the Dollar-Index moves
lower this euro will try and move higher, and we can use a wave-pattern long to
buy the new higher-highs.
moves higher we are selling the highs of this short term trading range just
below the PHOD. If the Dollar-Index moves
lower this euro will try and move higher, and we can use a wave-pattern long to
buy the new higher-highs.
