- The MKT has a slight negative bias in a difficult "choppy" trade. On the SELL side DP BREAKOUT strategies are valid but should expect a laborious trade. UP and UT1 FADE and REVERSAL strategies are recommended but profit should be taken at initial targets. The probability is to the downside today but is not a day to press it.
- On the BUY side avoid UP BREAKOUT strategies but rather FADE a negative reaction after a positive breakout signal at the DIR. DP REVERSAL strategies are recommended over FADE strategies as "sloppy" trading conditions are expected. Any DP FADE trades should get confirmation before executing. Position management adjustments should be anticipated for all longs as sideways trading conditions can quickly erase profits.
Today's PRICE MAP Performance for EU
Wrap Up
- Today in the EURO CURRENCY, our optimal HEDGE TACTIC gave traders the needed confidence to get short the market from the DP with a SELL DP BREAKOUT strategy targeting the DT2. The market was in a NEUTRAL DIGESTION, lending itself to a sideways trading environment within the Critical Range. However, a break in the structural support at the DP signalled traders to lean on the moving average crossover tactic. This SELL DP BREAKOUT signal was in line with our Sentiment Bias (R), as well as our MA crossover tactic. Having been short the market from the DP, traders were given the opportunity to realize profits on the trade when the market came within tics of our profit objective at the DT2.
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