October 10, 2012
- in Uncategorized by schooloftrade
Morning Euro Currency Checklist:
Heat Map
Review:
The euro
futures are NOT considered a moving market personality because we are not above
the 0.3%, stay patient and follow that plan!
futures are NOT considered a moving market personality because we are not above
the 0.3%, stay patient and follow that plan!
Overnight
Highs & Lows:
Highs & Lows:
We see higher-lows
on the 30-minute chart which is bullish, and the overnight highs were tested,
broken, the sellers tried to give us a price-reversal and they failed. The sellers failing at the overnight highs
was a BIG BULLISH CLUE.
on the 30-minute chart which is bullish, and the overnight highs were tested,
broken, the sellers tried to give us a price-reversal and they failed. The sellers failing at the overnight highs
was a BIG BULLISH CLUE.
Inside or
Outside Day?
Outside Day?
We are
inside the range from Tuesday, and we just recently bounced off the PLOD support,
which confirms a range-bound market and we want to buy-the-lows at support and sell-the-high
at resistance. In the case of the euro
today we want to take profit-target at the highs of resistance.
inside the range from Tuesday, and we just recently bounced off the PLOD support,
which confirms a range-bound market and we want to buy-the-lows at support and sell-the-high
at resistance. In the case of the euro
today we want to take profit-target at the highs of resistance.
Find the price-structures: · Trigger-zone is support at 1.2844 and
1.2620.
1.2620.
· AB=CD Pattern is both bullish AND
bearish
bearish
· Price-wedge is sideways
· Price-channel is bullish and we have
broken the price-channel.
broken the price-channel.
· Zigzag pattern is NOT on this 89range
chart.
chart.
· Trading Ranges FROM 3080 DOWN TO 2813
· Double-top / Double-bottom not on
this chart
this chart
Where
will a reversal be likely today?
will a reversal be likely today?
A price-reversal
is likely at the highs and lows of the trading range, the price-wedge and the PHOD
/ PLOD.
is likely at the highs and lows of the trading range, the price-wedge and the PHOD
/ PLOD.
What is
our trading plan for today?
our trading plan for today?
As price
rises to the highs of the price-wedge we look for price-reversal to sell short.
rises to the highs of the price-wedge we look for price-reversal to sell short.
As prices
fall im looking for a price-reversal at the lows of the range and the price-wedge
lows.
fall im looking for a price-reversal at the lows of the range and the price-wedge
lows.
