Tuesday, October 8, 2013

Euro Day trading strategy; SchoolOfTrade.com

Euro Anchor Chart

Euro Futures are trading at the PHOD this morning after trading in a very narrow range on Monday and finishing the day inside the range from last Friday.  These narrow trading-ranges and inside days suggest that SOMETHING may be coming today or tomorrow.  We expect to see a breakout trading-range today after we get the buyers or sellers to take control.

The anchor chart of the euro shows us higher-highs and higher-lows along with a strong bullish trend price-channel that tells us our desire to buy this morning is warranted.  All we need now is to see price-action close above the PHOD at 1.3588 on the VIP chart and we are buying pullbacks with the wave-pattern-long.

Euro Set Up Chart
The euro set-up chart shows us more bullish market sentiment with higher-lows and hopefully soon to be higher-highs.  We can see resistance overhead at 3595 so we need to beware trying to force the buying opportunities into this resistance zone above us.

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