Friday, May 2, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro is currently stuck in the middle but attempting to rise higher again. I am looking in both directions with buying opportunities up to the wedge highs that line up with supply from 1.3884 - 1.3888 as well as looking for trades to the downside to the BMT sitting at 1.3841 and possibly even lower under that to the next demand zone from 1.3806 - 1.3768 with the wedge lows in the mix.



Unfortunately the Euro didn't give us a whole lot to work with today. It moved like crazy when the Non-Farm Payroll numbers came out but after that settled down, it went right to sleep. I am looking to sit on hands until we see some better price action on  Monday.


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Thursday, May 1, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro has caught a BIG block of buying after yesterday's GDP numbers slapping price back up to the supplied highs as well as the wedge highs. We are now falling lower out of supply back down so I am looking to sell this market lower to the BMT back at 1.3835 as well as potentially lower than that down to demanded lows from 1.3806 - 1.3768.



Euro Entry Chart
The Euro was pretty sloppy today attempting to break above the PHOD's but ultimately failed right back down again. The first push lower got hung up at the weekly level of 1.3868 but when they broke that into a 456 continuation WAVE Pattern Short we were able to hop on board to the downside. This was a VERY sloppy move but that was sort of the story of the Euro this morning. Either way, targets are targets!


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Wednesday, April 30, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro has caught a HUGE reversal from the lows of 1.3768 and price has now blown right through the BMT back at 1.3825 and is pushing higher. I am looking to hop on to buy with this move higher up to supply from 1.3864 - 1.3878 as well as the wedge highs in the middle. We can also consider quick short trades for a snap-back to the BMT at 1.3825.



Unfortunately this morning's European Session had all of the fun again with gorgeous ranges and trades early in the day but when it came to the US Session we didn't have a whole lot to work with. I will be sitting on hands until we see a bit of better price action tomorrow.

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Tuesday, April 29, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro pushed up to the wedge highs once more in the overnight and sold off HARD blasting through the BMT back at 1.3829 and also breaking demand. We are now testing the wedge lows after this blow off so I will be looking to hop on long and buy this market back to the BMT first at 1.3829 as well as possibly higher up back to supply from 1.3864 - 1.3878 and the wedge highs.



Unfortunately the Euro didn't give us a whole lot to work with today. After that large sell off this morning it didn't have a whole lot of juice left to get some movement going. I am going to be sitting on hands until tomorrow where we will hopefully catch a bit better price action for us to trade!


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Monday, April 28, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro has caught a gorgeous block of buying out of the BMT sitting back at 1.3822. This push higher slammed price right into the wedge highs which are holding quite strongly and dropping price lower. I am looking to sell these highs of the wedge back down to revisit the BMT at 1.3822 and demand below that from 1.3821 - 1.3812 as well as the wedge low.



Euro Entry Chart
The Euro pushed up to the wedge highs where we had a gorgeous blow off to the high of day at 1.3878. From there we crossed back down into a 123 reversal pattern which broke below the first BMT for a magnet WAVE Pattern coupled with a DT WAVE Pattern from the highs right back down to get back into the previous days range to fill our targets below!



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Thursday, April 17, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro is currently sitting in the middle and dropping back a bit towards the wedge lows. I am looking to sell this market lower as well as buy it higher. The upside targets are sitting right at the wedge highs which also coincides with the supply zone above that from 1.3890 - 1.3903. I will also consider shorts back to the wedge lows which has the BMT in the mix as well around 1.3820's.



Unfortunately the Euro had all of its fun in the European Session this morning and didn't give us a whole lot to work with on the US Session. I am going to be sitting on hands until we see some better price action back on Monday again.


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Wednesday, April 16, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro has now pushed back above the BMT back at 1.3814 which is also near the wedge lows. I am looking to buy this market higher back to the previous high first at 1.3862 as well as higher above that to the wedge highs sitting in supply around 1.3890 - 1.3903. We can also consider short term selling opportunities to sell back to test the BMT back at 1.3814 before looking back long.



Unfortunately the Euro didn't give us a whole lot to work with today and all of the patterns that set up happened earlier in the day with the US Session being VERY slow for the Euro. I am looking to sit on hands until tomorrow where we hopefully will see some better price action.


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Tuesday, April 15, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro caught a strong gap lower over the weekend which has been driving price down over the past few days. We have now reached and broken the BMT at 1.3804 and are seeming to continue lower. I am looking to sell with this move down to the previous swing at 1.3778 as well as lower to the demand zones below us starting at 1.3767 - 1.3758 and lower.



Euro Entry Chart
The Euro pushed under the PLOD at 1.3806 where the buyers attempted to push price back up and quickly failed right back lower. The failure back down gave us a solid looking 123 reversal back to lows for an Inside Out Pattern WAVE Short in to weekly support for our target down at 1.3790. The Euro was VERY choppy today under the PLOD so it wasn't an easy move, but still filled our targets!



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Monday, April 14, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro has pushed down to form a new wedge low that we are currently holding. We haven't tested the BMT which is at 1.3802 and should start acting as a magnet. I am looking to buy this higher to supply at 1.3839 - 1.3862 and higher to the wedge highs but will also consider shorts as the wedge lows have yet to be confirmed back down to the BMT.



Euro Entry Chart
The Euro pushed below the PLOD where the buyers attempted to defend and push price higher but quickly failed right back down again. This failure gave us a fantastic 123 reversal pattern to hop on with for a WAVE Pattern Short into an Inside Out Pattern Short back to the current LOD for a quick target to the downside!




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Friday, April 11, 2014

Euro Currency Futures Day Trading Strategy

Euro 60-Minute
The Euro has been on a bullish tear to the upside and consistently expanding the wedge highs. We have now fallen back a bit to the wedge lows also sitting in demand from 1.38866 - 1.3851. I am looking to buy this low right back up again to the highs of the wedge and higher to the previous swing up at 1.3903. If we fall lower we have another demand zone at 1.3846 - 1.3834 to hold price up.



Euro Entry Chart
This pattern set up earlier in the morning but instead of showing nothing, it is a great opportunity to see a gorgeous pattern. We had price push above the PHOD where the sellers immediately rejected price lower back under the BMT's as well as under the weekly level at 1.3891. This gave us a 123 reversal pattern that fired off a Last Chance entry right at the PHOD for a gorgeous Inside Out Short!



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