ive been watching the euro futures trading sideways on my 21-range chart all day and swing traders are getting restless! :)
we have two simple options...
if the market rises we need to break this overhead trend line looking for a long entry above 50 and a final target of the next trend line above that which is around 80.
the later this trade triggers the wider this target will be from our entry above the trend line, and if we get close to the big round number of 3700 i will look for price to break through the trend line to briefly test the 3695 for a final target on this breakout trade.
You will need to be on your toes looking at the stops getting run above the trend line and take that money and RUN when you see the big round number tested.
the patience will really pay off if we can break the lows of 53, which ive been patiently waiting for all day with you all in the trade room :)
short below 53 gets us below the sideways trading range and we have an easy cover 1/2 at the big round number 3505 and then cover the other 1/2 at 3475.
this is a well defined trading range, so make sure you look for strong confirmation at those lows of 53 to take this entry short, we dont want to see a fake-out breakout take back our money from this morning.
follow those entry rules, see you in the room @ 745am EST tomorrow
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