September 14, 2012
- in Uncategorized by schooloftrade
Morning Euro Checklist:
Heat Map
Review:
Euro is a
moving market according to the heat map.
moving market according to the heat map.
Overnight
Highs & Lows:
Highs & Lows:
Very similar
to Crude Oil this morning, the buyers took control, they pushed new higher-highs
and now we have a confusion candlestick pattern that tells us this price-action
is likely to either move higher and re test he HOD, or fail and re-test the PHOD
below it.
to Crude Oil this morning, the buyers took control, they pushed new higher-highs
and now we have a confusion candlestick pattern that tells us this price-action
is likely to either move higher and re test he HOD, or fail and re-test the PHOD
below it.
Inside or
Outside Day?
Outside Day?
We are
outside day, trading above the PHOD, this is a bullish clue, however, we know
this market personality may fail and give us a price-reversal.
outside day, trading above the PHOD, this is a bullish clue, however, we know
this market personality may fail and give us a price-reversal.
Find the price-structures: · Trigger-zone will be support below us
· Price-channel is bullish and we are
at the highs
at the highs
Where
will a reversal be likely today?
will a reversal be likely today?
A price-reversal
is likely at the resistance at 1.3191, at the price-channel highs 1.3100 and we
need to wait for the next wave-pattern-long to fail so we can get short.
is likely at the resistance at 1.3191, at the price-channel highs 1.3100 and we
need to wait for the next wave-pattern-long to fail so we can get short.
What isour trading plan for today?
Our trading plan uses the bearish Dollar-Index to give us
bullish clues on the euro. We may have
an issue finding sellers at this high of the price-channel. The Dollar-Index is bearish after the FOMC
statement saying that they will print more money, and this is giving confidence
to the recovery in Europe. We will
likely see sloppy movement higher considering we’re at major resistance, and we’re
looking for wave-pattern-long on 21range chart to enter long. If that wave pattern fails, we then need to
consider getting short.
bullish clues on the euro. We may have
an issue finding sellers at this high of the price-channel. The Dollar-Index is bearish after the FOMC
statement saying that they will print more money, and this is giving confidence
to the recovery in Europe. We will
likely see sloppy movement higher considering we’re at major resistance, and we’re
looking for wave-pattern-long on 21range chart to enter long. If that wave pattern fails, we then need to
consider getting short.
