May 31, 2013
- in Uncategorized by schooloftrade
Euro day trading strategy
 |
| Euro 5-Minute |
The euro Futures
market is trading right on top of the 1.3000 big-round-number and last week’s
highs. This tells us the market
personality is ‘in-balance’ because we can clearly see the buyers don’t have
control, and the sellers failed to push prices below the previous week’s highs
after it failed. We are trading in the
middle of the London trading Session which means we need to buy the reversal
zone at 2969-2949 as price falls lower.
We will sell the reversal zone at 3043-3063, and we will avoid trading
in the middle of this range.
 |
| Dollar Index 5-Minute |
It’s also
very important to recall the Dollar-Index-correlation. The Dollar-Index is trading in the middle of
the London trading Session range as well.
This tells us the euro is NOT ready to be traded this morning. We can see the Dollar-Index moving higher in
the short term, so selling short on the euro is a possible trade, but is NOT
considered a high-percentage-trade.
very important to recall the Dollar-Index-correlation. The Dollar-Index is trading in the middle of
the London trading Session range as well.
This tells us the euro is NOT ready to be traded this morning. We can see the Dollar-Index moving higher in
the short term, so selling short on the euro is a possible trade, but is NOT
considered a high-percentage-trade.
