October 2, 2012
- in Uncategorized by schooloftrade
Morning Euro Checklist:
Heat Map
Review:
Heat map
says the euro is a moving market, rising at +0.3% so we look for high-percentage-trades
today.
says the euro is a moving market, rising at +0.3% so we look for high-percentage-trades
today.
OvernightHighs & Lows:
Our 30-minute
chart on the euro shows a lot of bullish market sentiment. Higher-highs and higher-lows along with the
close of the recent candlestick above the PHOD.
These are all very bullish, but lets see if the buyers can keep it
moving higher.
chart on the euro shows a lot of bullish market sentiment. Higher-highs and higher-lows along with the
close of the recent candlestick above the PHOD.
These are all very bullish, but lets see if the buyers can keep it
moving higher.
Inside or
Outside Day?
Outside Day?
We are
transitioning from inside day to outside day, moving above the PHOD.
transitioning from inside day to outside day, moving above the PHOD.
Find the price-structures: · Trigger-zone are both support below
us and most recent resistance above us at 1.3000
us and most recent resistance above us at 1.3000
· AB=CD Pattern is bearish
· Price-wedge is bullish and we are
coming off the lows.
coming off the lows.
· Price-channel is bullish and we are
coming off the lows.
coming off the lows.
· Zigzag is bullish and we saw that
trigger long late last week.
trigger long late last week.
· Sideways / Trading Ranges (NOT on this chart)
· Double-top / Double-bottom (not on this chart)
Where
will a reversal be likely today?
will a reversal be likely today?
A price-reversal
is likely at the PHOD and the resistance above the PHOD. As price rises keep an eye on the Dollar-Index
correlation looking for the Dollar-Index to be at support or resistance to help
out the price-reversal on the euro.
is likely at the PHOD and the resistance above the PHOD. As price rises keep an eye on the Dollar-Index
correlation looking for the Dollar-Index to be at support or resistance to help
out the price-reversal on the euro.
What is
our trading plan for today?
our trading plan for today?
We want to buy above the PHOD however, the Dollar-Index is at
support so we will wait to see the Dollar-Index make new lower-lows and a new LOD. If price falls back below the PHOD we will
sell short, taking profit at the support below us at trigger-lines and the PLOD
is the final runner target.
support so we will wait to see the Dollar-Index make new lower-lows and a new LOD. If price falls back below the PHOD we will
sell short, taking profit at the support below us at trigger-lines and the PLOD
is the final runner target.
If the Dollar-Index makes new lower-lows today we will then
get bounced from our short position and we will then considering buying using a
wave-pattern-long above the PHOD.
get bounced from our short position and we will then considering buying using a
wave-pattern-long above the PHOD.
