November 27, 2012
- in Uncategorized by schooloftrade
Mini-Russell day trading strategy:
The Mini-Russell
is trading in a bull price-channel and coming off the lows at support. We can see the bearish AB=CD Pattern with a
target and resistance at 817.8 overhead.
In addition,
we can see the double-bottom which creates resistance at 813.0, 815.3, and
817.9 overhead. We are also currently
trading on top of the PHOD and with the current sloppy market personality we
need to get either above or below the PHOD to make this worth it.
we can see the double-bottom which creates resistance at 813.0, 815.3, and
817.9 overhead. We are also currently
trading on top of the PHOD and with the current sloppy market personality we
need to get either above or below the PHOD to make this worth it.
Our day
trading strategy for Mini-Russell uses the bullish price-channel, AB=CD Pattern
and double-bottom as the biggest clues.
trading strategy for Mini-Russell uses the bullish price-channel, AB=CD Pattern
and double-bottom as the biggest clues.
As pricerises higher I’m buying pullbacks with a wave-pattern-long above the PHOD 809.3. I do need to beware that this will NOT be the
first time we test the PHOD so the market personality has been sloppy and I
need to be very careful jumping into that long position when price breaks new higher-highs. If we
can get long we have resistance and a profit-target at the HOD -5 ticks at
811.8, and a runner target can be used at the double-bottom resistance at
813.0, 815.3, and even 817.9
If price
trades sideways we need to beware the sloppy market personality around the PHOD. We do not want to get caught with bad price-action
around the PHOD.
trades sideways we need to beware the sloppy market personality around the PHOD. We do not want to get caught with bad price-action
around the PHOD.
If pricemoves lower we will have to wait for the lows of the bull price-channel to be
tested and then buy the lows of the price-channel. If price goes below 805.6 (today’s LOD) we
will then look for the fake-out-breakout before trading short. We always look to buy-the-lows at support such
as the LOD at 805.6 however, if we don’t see the buyers take control we will
then look for the short down to 803.0 support.
