October 9, 2012
- in Uncategorized by schooloftrade
Morning Euro Checklist:
Heat Map
Review:
This market
on the euro is NOT a moving market personality so we will stay patient and
beware the sloppy market personality.
on the euro is NOT a moving market personality so we will stay patient and
beware the sloppy market personality.
Overnight
Highs & Lows:
Highs & Lows:
We have a range-bound
market thanks to the sellers and the buyers failing to make new higher-highs or
lower-lows. This also makes sense with
the lack of market personality from the heat map.
market thanks to the sellers and the buyers failing to make new higher-highs or
lower-lows. This also makes sense with
the lack of market personality from the heat map.
Inside or
Outside Day?
Outside Day?
We are
inside the range from Monday, making this range-bound market a reality. We want to buy-the-lows at support and sell-the-high
at resistance for the high-percentage-trades.
inside the range from Monday, making this range-bound market a reality. We want to buy-the-lows at support and sell-the-high
at resistance for the high-percentage-trades.
Find the price-structures:
· Trigger-zone is bearish directly overhead
and bullish starting at 1.2844.
and bullish starting at 1.2844.
· AB=CD Pattern is bearish and we can
disqualify the AB=CD Pattern when we break below the C point at 1.2765. look for selling opportunities at this break.
disqualify the AB=CD Pattern when we break below the C point at 1.2765. look for selling opportunities at this break.
· Price-wedge is bullish
· Price-channel is bullish
· Zigzag is old, however it was
bullish.
bullish.
· Sideways / Trading Ranges not on this
chart
chart
· Double-top / Double-bottom not on
this chart
this chart
Where
will a reversal be likely today?
will a reversal be likely today?
Price-reversal
is most likely around the trend line support around 1.2900. if price rises higher we will see the price-reversal
at the highs o the price-wedge.
is most likely around the trend line support around 1.2900. if price rises higher we will see the price-reversal
at the highs o the price-wedge.
What is
our trading plan for today?
our trading plan for today?
Stay patient, the market personality is very sluggish without
much news on the schedule today.
much news on the schedule today.
The euro is tied directly to the Dollar-Index, and the Dollar-Index
is also very sluggish this morning.
is also very sluggish this morning.
As price falls im going to use the trend line to buy-the-lows
at support. If price rises im selling
the highs of the range and the price-wedge around 1.3040 area.
at support. If price rises im selling
the highs of the range and the price-wedge around 1.3040 area.
