August 7, 2013
- in Uncategorized by schooloftrade
Mini-Russell day trading strategy
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| Mini-Russell Anchor Chart #1 |
Mini-Russell is trading
sideways this morning in the middle of the short-term trading-range after a
MONSTER run higher over the last 60 days.
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| Mini-Russell Anchor Chart #2 |
We can see the dramatic sideways-trading-range
so our day trading plan today is to buy the lows and sell the highs, avoiding
the middle of this range from 1062.0 down to 1035.8.
so our day trading plan today is to buy the lows and sell the highs, avoiding
the middle of this range from 1062.0 down to 1035.8.
 |
| Mini-Russell 5-Minute VIP Chart |
The 5-minute Mini-Russell
chart shows us we are below the PLOD so we are bearish and looking for selling-opportunities
this morning. Our profit-target for the selling-opportunities
will be the PLOD at 1042.0 and then the previous week lows at 1035.8. We can assume (nothing guaranteed) that price-action
will try to test the previous week’s low.
chart shows us we are below the PLOD so we are bearish and looking for selling-opportunities
this morning. Our profit-target for the selling-opportunities
will be the PLOD at 1042.0 and then the previous week lows at 1035.8. We can assume (nothing guaranteed) that price-action
will try to test the previous week’s low.
 |
| Mini-Russell Entry Chart |
The 610-tick entry chart
shows us trading lower this morning after breaking to new lower-lows after a sideways-trading-range
earlier in the session. We have major support
at 1041.4 which means we cannot sell short until we get new lower-lows below
this key level. If the price-action bounces
and moves higher off the 1041.4 we can then buy on the way up to the trigger-zone
and price-channel resistance around 1046.0 overhead.
shows us trading lower this morning after breaking to new lower-lows after a sideways-trading-range
earlier in the session. We have major support
at 1041.4 which means we cannot sell short until we get new lower-lows below
this key level. If the price-action bounces
and moves higher off the 1041.4 we can then buy on the way up to the trigger-zone
and price-channel resistance around 1046.0 overhead.
