Tuesday, May 6, 2014

E-Mini Russell Futures Day Trading Strategy; Buying the wedge lows out of demand

Russell 60-Minute
The Russell is currently dropping off from the highs and is smack in the middle of the wedge. I am looking for price to drop to the wedge lows in demand where the buyers have defended several times before and buy it right back up from there. I will be targeting the wedge highs and possibly higher above that for a FOBO of the highs to the BMT sitting up at 1125.

Russell Entry Chart
The Russell dropped right down to the wedge lows and caught a nice bit of buying right out of those demanded lows. This gave us a push back up that broke the BMT's and set up a gorgeous 123 reversal pattern back up where we could hop right in with almost no heat at all! Price then shot right back up again to hit our targets above for a quick and easy trade! These patterns are things that we look at EVERY day in the Live Trade Room so make sure you check out the trial so you can see for yourself!

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