September 12, 2012
- in Uncategorized by schooloftrade
Morning euro Checklist:
Heat MapReview:
Heat map
says +0.3% and this makes sense with a falling Dollar-Index.
says +0.3% and this makes sense with a falling Dollar-Index.
Overnight
Highs & Lows:
Highs & Lows:
The sellers
failed earlier this morning and so did the buyers. Now we see confusion patterns in the
candlesticks so we wait for market personality to confirm who is really in
charge of price.
failed earlier this morning and so did the buyers. Now we see confusion patterns in the
candlesticks so we wait for market personality to confirm who is really in
charge of price.
Inside or
Outside Day?
Outside Day?
We are
outside day, above the PHOD, this is bullish, but we also see the PHOD is right
below us, and this is a major transitional level.
outside day, above the PHOD, this is bullish, but we also see the PHOD is right
below us, and this is a major transitional level.
Find the price-structures: · Trigger-zone is resistance overhead
at 2945
at 2945
· Price-channel is bullish but price-action
is not obeying the price-channel very well.
is not obeying the price-channel very well.
Where
will a reversal be likely today?
will a reversal be likely today?
The 2945 isthe high of the major trigger-zone. We
will expect a price-reversal around the highs.
If price drops to the lows, we will look for the price-reversal around
the lows at 2775 down to 2760 the PLOD.
What is
our trading plan for today?
our trading plan for today?
The Dollar-Index is falling lower so the euro is assumed tobe rising higher. We saw the sellers
fail earlier this morning, we’re above the PHOD so we SHOULD be seeing market
personality to allow us to buy using a wave-pattern-long. We want to buy the lows of the bullish price-channel,
take our profit at the highs of the price-channel. If price falls below the PHOD we will sell
short with wave-pattern-short below the PHOD at 1.2872. target for the short side below PHOD is the PLOD
and 1.2760
