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 Post subject: March 19th Thursday 2009 - CME EuroFX
PostPosted: Thu Mar 19, 2009 6:26 pm 
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Joined: Sat Jan 10, 2009 1:06 pm
Posts: 2951
Location: Canada
Price Action of the Day

CME EuroFX
5min chart

Similar price action to yesterday's Eurex DAX chart that we discussed via tutorial chapter 12. The price action retraced back into a support area to determine if that price area is a key change in supply/demand.

That confirmation occurred when the EuroFX made higher lows (annotated as #1, #2 and #3) with #3 occurring as the last chance to jump on the band wagon sort'uv speak as a low risk trade.

In addition, the higher lows become support areas too and that's exactly what the price action at #1 did for the price action at #2.

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Note: The "price action of the day" is just a simple trading tip (not an entry signal) that correlates with some of the concepts being taught in the strategies (VTR, STR, APAOR or AJCTR) and WRB Analysis Tutorials.

Simply, the purpose for this trading tip is to encourage questions by those that have a sincere interest in purchasing TheStrategyLab.com education materials to learn advance trading concepts and advance understanding of the price action.

Further, if you're already a fee-base client...do not join this discussion forum. Instead, if you have questions about this trading tip...post a link to this message post at your private forum for fee-based clients and I'll respond at your forum.

Regards,
M.A. Perry


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