October 12, 2012
- in Uncategorized by schooloftrade
Morning Euro Checklist:
Heat Map
Review:
Market
personality on the euro is moving this morning at 0.3%
personality on the euro is moving this morning at 0.3%
Overnight
Highs & Lows:
Highs & Lows:
The euro has
higher lows overnight and we’re testing the overnight highs and waiting to see
if the buyers are strong enough.
higher lows overnight and we’re testing the overnight highs and waiting to see
if the buyers are strong enough.
Inside or
Outside Day?
Outside Day?
We are
outside the range from Thursday and this is a bullish clue.
outside the range from Thursday and this is a bullish clue.
Find the price-structures: · Trigger-zone is support at 1.2844 and
resistance above 1.3000
resistance above 1.3000
· AB=CD Pattern is both bearish at
1.3400 and bullish at 1.2705
1.3400 and bullish at 1.2705
· Price-wedge is sideways
· Price-channel is bullish and is
almost considered ‘broken’
almost considered ‘broken’
· Zigzag pattern is not on this chart
· Sideways / Trading Ranges from 1.3080
down to 1.2833
down to 1.2833
· Double-top / Double-bottom not on
this chart.
this chart.
Where
will a reversal be likely today?
will a reversal be likely today?
We see a price-wedge
and a trading range, so the price-reversal is most likely around the highs and
lows of these price-structures.
and a trading range, so the price-reversal is most likely around the highs and
lows of these price-structures.
What is
our trading plan for today?
our trading plan for today?
Using the Dollar-Index correlation we are looking for the Dollar-Index
to reverse off the overnight lows and give us selling opportunities at the
highs of this range on the euro.
As price rises im waiting to sell the price-wedge highs.
to reverse off the overnight lows and give us selling opportunities at the
highs of this range on the euro.
As price rises im waiting to sell the price-wedge highs.
As price trades sideways I must sit-on-hands as we are in the
middle of the price-wedge.
middle of the price-wedge.
As price falls I will sell below the PHOD as the buyers are
now failing.
now failing.
