Wednesday, May 14, 2014

E-Mini Russell Futures Day Trading Strategy; Selling the profit taking rally

Russell 16JJ Bar
I am watching price on the Russell tank after it pushed to the new highs on some very strong movement lower.

I am waiting for a profit taking rally to push price up to 1121.6 and 1127.7 where I will sell it back down again. If it rises higher we can use the next resistance area at 1131.4 and 1137.5 to sell it.

The targets on the way down will be the BMT which is floating in the middle at 1114.2 as well as the final target back at the lows of the move at 1106.2.

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