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Posted by Joseph James

Head Trader at Motivator, Trader, Fund Manager and Educator. Joseph focuses on intra-day trading of crude oil, E-mini Russell, Gold, and Euro and his network of traders covers all corners of the industry.

Euro day trading plan

by Joseph James on March 14, 2013

in Commodities, Technical Analysis

Euro day trading plan
We can see the major bearish price-channel and symmetry support at 1.2895 which will be an excellent profit-target for short-sellers.  This bear price-channel tells us to sell the highs as resistance for the high-percentage-trades.  Keep an eye on the resistance levels above us because if price-action moves higher we will look for selling opportunities at the price-channel highs, and the resistance levels of 1.3069 and 1.3135. 

Euro day trading plan
We can see the euro has already triggered the InsideOut Set-up to get long earlier in the trading session, and now we’re buying pullbacks using our entry triggers to get into new positions or add to our open position with a profit-target at the trend line overhead in the short term, and the longer term trend line up around 1.3016.  If we can stay patient, and if this morning price-action doesn’t put us to sleep after 11am EST we will try to hold our long trades all the way up to the ‘HERO TARGET’ at 1.3066

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