November 21, 2012
- in Uncategorized by schooloftrade
Mini-Russell Chart Prep:
Our chart
prep for the Mini-Russell uses an 89range anchor chart as our first set of
clues. We will then move to the 55range,
21range, and possibly the 13range.
prep for the Mini-Russell uses an 89range anchor chart as our first set of
clues. We will then move to the 55range,
21range, and possibly the 13range.
We see the
long term bullish price-channel and the trend line drawn from the swing-high creates
a bullish price-wedge. The bullish price-wedge
tells us where the high-percentage-trades will occur. The high-percentage-trades will occur at the
lows, buying the lows of the price-channel at support.
long term bullish price-channel and the trend line drawn from the swing-high creates
a bullish price-wedge. The bullish price-wedge
tells us where the high-percentage-trades will occur. The high-percentage-trades will occur at the
lows, buying the lows of the price-channel at support.
Our day
trading strategy for Mini-Russell tells us that price may rise, may trade
sideways, and may fall. We will plan for
all three directions.
trading strategy for Mini-Russell tells us that price may rise, may trade
sideways, and may fall. We will plan for
all three directions.
If price
rises higher I’m selling the PHOD and the 795.0 trigger-zone resistance. As price moves higher im selling at resistance
starting at the 795.0, the 799.3 swing-high, and the highs of the price-wedge around
810.0. if we get above the highs of the trigger-zone
at 803.5 I can then buy pullbacks with a profit-target at the 813.0 trigger-zone
resistance also at the highs of the price-wedge.
rises higher I’m selling the PHOD and the 795.0 trigger-zone resistance. As price moves higher im selling at resistance
starting at the 795.0, the 799.3 swing-high, and the highs of the price-wedge around
810.0. if we get above the highs of the trigger-zone
at 803.5 I can then buy pullbacks with a profit-target at the 813.0 trigger-zone
resistance also at the highs of the price-wedge.
If price
trades sideways, it will be trading on TOP of the PHOD, which is always a red
flag. We want to avoid trading when the market
personality is sloppy on top of the PHOD or PLOD.
trades sideways, it will be trading on TOP of the PHOD, which is always a red
flag. We want to avoid trading when the market
personality is sloppy on top of the PHOD or PLOD.
If price
falls lower we are selling short with a 2step pattern short to sell the highs
at the trigger-zone resistance and the PHOD holding as resistance. Our profit-target for the short trades is the
PLOD. There is a very high likelihood
that when we fail to break new higher-highs above the PHOD that the sellers
will push price down to the PLOD.
falls lower we are selling short with a 2step pattern short to sell the highs
at the trigger-zone resistance and the PHOD holding as resistance. Our profit-target for the short trades is the
PLOD. There is a very high likelihood
that when we fail to break new higher-highs above the PHOD that the sellers
will push price down to the PLOD.
Furthermore,
if price keeps moving below the PLOD this is a BIG CLUE that the sellers are in
control and we will sell short using a wave-pattern-short or a breaker pattern
short to enter below 784.9 which is the trigger-line support from the 89range
chart, which is just below the PLOD.
if price keeps moving below the PLOD this is a BIG CLUE that the sellers are in
control and we will sell short using a wave-pattern-short or a breaker pattern
short to enter below 784.9 which is the trigger-line support from the 89range
chart, which is just below the PLOD.
As price
drops lower I will take profit at the PLOD and then look for the support at
784.9 (89r trigger-line) to hold and I can buy the PLOD or if price goes directly
through the 89range trigger-line at 784.9 we will then look to sell short down
to the lows of the price-channel and price-wedge around 767.0
drops lower I will take profit at the PLOD and then look for the support at
784.9 (89r trigger-line) to hold and I can buy the PLOD or if price goes directly
through the 89range trigger-line at 784.9 we will then look to sell short down
to the lows of the price-channel and price-wedge around 767.0
