March 5, 2012
- in Uncategorized by schooloftrade
1130am EST day trading strategy up-date
Our day trading strategy this morning has earned us a ton of
profit, selling the price wedge highs on Crude Oil and selling the price
channel highs on the E-Mini-Russell. Now
its time to prep for the rest of our day.
profit, selling the price wedge highs on Crude Oil and selling the price
channel highs on the E-Mini-Russell. Now
its time to prep for the rest of our day.
The Crude Oil now has a nice easy to see price wedge and we
want to sell the highs/resistance and buy the lows/support of this price wedge. With the dollar index correlation and the dollar
index price wedge we need to beware this may be sloppy in the middle. As price rises I’m selling at the price wedge
highs and the resistance at 107.42. we
can buy pullbacks with new higher-highs above .42 but look for the fake-out
breakout first to fade-the-breakouts of the price wedge. If price falls lower we buy the lows/support of
the price wedge and the PLOD as support and we keep looking to buy the
lows/support until we get below 104.60.
want to sell the highs/resistance and buy the lows/support of this price wedge. With the dollar index correlation and the dollar
index price wedge we need to beware this may be sloppy in the middle. As price rises I’m selling at the price wedge
highs and the resistance at 107.42. we
can buy pullbacks with new higher-highs above .42 but look for the fake-out
breakout first to fade-the-breakouts of the price wedge. If price falls lower we buy the lows/support of
the price wedge and the PLOD as support and we keep looking to buy the
lows/support until we get below 104.60.
The euro has stayed in the same spot all morning and we cant
buy pullbacks until we get above the 34range trigger line resistance at
1.3235. so beware trading around the PLOD
because at this point in the morning we know the PLOD is a sticky price magnet
that will cause price to fail at new lower-lows or new higher-highs. Look for the dollar index to break new lower-lows
below 79.285 for the euro to finally break higher and allow us to buy a pullback.
buy pullbacks until we get above the 34range trigger line resistance at
1.3235. so beware trading around the PLOD
because at this point in the morning we know the PLOD is a sticky price magnet
that will cause price to fail at new lower-lows or new higher-highs. Look for the dollar index to break new lower-lows
below 79.285 for the euro to finally break higher and allow us to buy a pullback.
Our day trading strategy for the E-Mini-Russell uses the
short term bear price channel along with the slower timeframe bear price
channel and the AB=CD support at the lows as good reason to buy the
lows/support as price falls. Sell price
channel highs as resistance, and if price keeps rising higher we can sell the
resistance at 801.5 and then buy pullbacks with new higher-highs above it when resistance
turns to support.
short term bear price channel along with the slower timeframe bear price
channel and the AB=CD support at the lows as good reason to buy the
lows/support as price falls. Sell price
channel highs as resistance, and if price keeps rising higher we can sell the
resistance at 801.5 and then buy pullbacks with new higher-highs above it when resistance
turns to support.
The gold futures day trading strategy uses the price wedge and
the PLOD to plan our highest percentage trades today. We want to buy the lows/support of the price
wedge and sell the highs/resistance of the price wedge using the PLOD as a
magnet and as we see the buyers bring price back above the PLOD we buy it as
the sellers have failed.
the PLOD to plan our highest percentage trades today. We want to buy the lows/support of the price
wedge and sell the highs/resistance of the price wedge using the PLOD as a
magnet and as we see the buyers bring price back above the PLOD we buy it as
the sellers have failed.
