December 10, 2012

Mini-Russell day trading plan

Mini-Russell day trading plan
Mini-Russell day trading plan

We can see a
very narrow sideways-trading-range on the Mini-Russell this morning which has
been on this 89range anchor chart for over a week now.  This sideways-trading-range is a big clue and
we will use it make educated trading decisions today.
As price
rises higher we are at the highs of the bearish price-channel and we will run
into this major resistance as price moves to the highs of the sideways-trading-range.  As price moves higher we are looking to sell
short at the highs of the range and the price-channel highs as high up as 830.0
if we break above 830.0 then we have the opportunity to buy pullbacks only
after looking for the fake-out-breakout. 
If we get long our next profit-target is the resistance at 834.2 and
then we can buy more above that resistance with strong buyers up to the resistance
at 841.8 for a final profit-target.
If price
falls to the lows of the sideways-trading-range and we want to buy the PLOD 818.1,
816.2, 813.9, 812.5, and finally the last chance to be a buyer will be
808.5.  If price moves lower we have a
LOT of little support levels to look for the price-reversal.  If we get below the bottom of the trigger-zone
808.5 then we have the buyers failing completely and then we can get short with
a profit-target down at big-round-number 800.00 and the area around 795.0

    schooloftrade

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