March 30, 2012
- in Uncategorized by schooloftrade
E-Mini-Russell day trading strategy
E-Mini-Russell gave us an easy clue as of noon EST on Thursday
that we had a strong bear price channel, and even though its not considered an advanced
price-structures we know two things about this price channel; first, sell the price
channel highs, and second if the price blows through those highs sell the next
level of resistance overhead, in this case it was the PHOD.
that we had a strong bear price channel, and even though its not considered an advanced
price-structures we know two things about this price channel; first, sell the price
channel highs, and second if the price blows through those highs sell the next
level of resistance overhead, in this case it was the PHOD.
This morning when the buyers failed above the PHOD and that
also lined up with the day trading strategy for a bear price channel its an
easy trade short with a simple 2-step reversal pattern on the 13 or 21 range
charts.
also lined up with the day trading strategy for a bear price channel its an
easy trade short with a simple 2-step reversal pattern on the 13 or 21 range
charts.
Targets on the short side are the lows of the
ranges; the lows of the price wedge, the PLOD and the price channel lows. Remember the price wedge is a big market
personality cue so sell the highs and buy the lows of any price wedge we see.
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E-Mini-Russell day trading strategy |
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E-Mini-Russell day trading strategy |
