October 24, 2012
- in Uncategorized by schooloftrade
Euro Currency Futures Prep:
We are
moving lower outside of the range from Tuesday, so this is an outside day, but
it looks ready to give us a price-reversal.
The AB=CDPattern is major support and we know to trust this support in most cases. Also, the PLOD is right above us, and if this
support holds and the buyers push back above the PLOD this becomes VERY
bullish.
The lows of
the bull price-channel are right below us, and the high-percentage-trades are
buying the lows in this case just above 1.2900.
the bull price-channel are right below us, and the high-percentage-trades are
buying the lows in this case just above 1.2900.
If this
price fails to move lower, we will look for the price-reversal and buy-the-lows
at support and buy above the PLOD.
price fails to move lower, we will look for the price-reversal and buy-the-lows
at support and buy above the PLOD.
If price
does make new lower-lows we will then look to buy-the-lows of the price-channel
around the 1.2900 and use the PLOD and the big-round-number of 1.3000 as a profit-target.
