September 30, 2013
- in Uncategorized by schooloftrade
Euro Day trading strategy; SchoolOfTrade.com
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| Euro Anchor Chart |
We analyze the Euro this morning and we can see a sideways-trading-range
with NO higher-highs or lower-lows and a very narrow ‘cloud’ which all suggest
there is no trend, which means we will use the trading-range as our biggest
clue to buy-the-lows at support and sell-the-high at resistance.
with NO higher-highs or lower-lows and a very narrow ‘cloud’ which all suggest
there is no trend, which means we will use the trading-range as our biggest
clue to buy-the-lows at support and sell-the-high at resistance.
The Euro has traded higher and lower, inside the price-wedge and
using our trigger-zones to bounce off the lows and the highs. This is a very obvious price-wedge and a sideways-trading-range
that we will trade accordingly. We want
to buy-the-lows at support and sell-the-high at resistance of this price-wedge.
using our trigger-zones to bounce off the lows and the highs. This is a very obvious price-wedge and a sideways-trading-range
that we will trade accordingly. We want
to buy-the-lows at support and sell-the-high at resistance of this price-wedge.
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| Euro VIP Chart |
The opening-print on the Euro was inside the range from Friday,
and price-action moved quickly in the middle of the trading-range which
suggests that traders are WAITING on something before they commit to moving price-action
higher or lower. We will buy the PLOD and
sell the PHOD. If we buy the PLOD our profit-target
is at the PHOD, vice versa.
and price-action moved quickly in the middle of the trading-range which
suggests that traders are WAITING on something before they commit to moving price-action
higher or lower. We will buy the PLOD and
sell the PHOD. If we buy the PLOD our profit-target
is at the PHOD, vice versa.
