September 4, 2013
- in Uncategorized by schooloftrade
Mini-Russell Day trading strategy
10:30am EST
Mini-Russell Futures
Analysis:
Analysis:
 |
| Russell VIP Chart |
The 30-minute VIP chart is showing us in the middle of the trading-range
this morning and we can see 3 days in a row of sideways-trading-ranges. We know this is a big red flag telling us to
treat this market personality as a sideways-trading-range.
this morning and we can see 3 days in a row of sideways-trading-ranges. We know this is a big red flag telling us to
treat this market personality as a sideways-trading-range.
We want to buy the PLOD support at 1066.2 and sell the PHOD resistance
at 1028.7. We will avoid trading in the
middle of this range, and remember to look for the fake-out-breakout above the PHOD
or below the PLOD which should be followed by the ‘InsideOut Set-up’.
at 1028.7. We will avoid trading in the
middle of this range, and remember to look for the fake-out-breakout above the PHOD
or below the PLOD which should be followed by the ‘InsideOut Set-up’.
 |
| Russell Anchor 1 |
We can see a price-wedge on the 5400-tick chart this morning,
telling us to buy the lows and sell the highs of the trading-range we are
currently in. We can see major support levels
below us at 1000.0, 990.5, 985.4 and 975.6.
We also have resistance levels above us at 1034.1, 1040.7, 1050.1 and
1055.6. This price-wedge tells us that
we can sell at these resistance levels or buy at the support levels with the
same effectiveness, in other words, there is no directional-bias with a price-wedge.
telling us to buy the lows and sell the highs of the trading-range we are
currently in. We can see major support levels
below us at 1000.0, 990.5, 985.4 and 975.6.
We also have resistance levels above us at 1034.1, 1040.7, 1050.1 and
1055.6. This price-wedge tells us that
we can sell at these resistance levels or buy at the support levels with the
same effectiveness, in other words, there is no directional-bias with a price-wedge.
 |
| Russell Anchor 2 |
We can see the sellers have tried, and failed, to move prices
below the 1000.0 big-round-number. It
appears every time the sellers get a new lower-low they cant keep it moving
lower and we see a quick bounce back higher.
We have resistance levels overhead at 1024.9, 1029.3 and 1034.1 along
with a trend-line to act as additional resistance. We know that there is no directional-bias at
this time, so selling at these resistance levels is an easy option for us
today.
below the 1000.0 big-round-number. It
appears every time the sellers get a new lower-low they cant keep it moving
lower and we see a quick bounce back higher.
We have resistance levels overhead at 1024.9, 1029.3 and 1034.1 along
with a trend-line to act as additional resistance. We know that there is no directional-bias at
this time, so selling at these resistance levels is an easy option for us
today.
