March 5, 2013
- in Uncategorized by schooloftrade
Mini-Russell Anchor Chart Prep
The anchor
chart on the Mini-Russell Futures shows us easy clues in the form of a major
bull price-channel, a green colored ‘cloud’ along with double-bottom support
and resistance overhead. We can see the
major resistance overhead at 930.0 from the double-bottom and at 941.5 using
Fibonacci on this anchor chart.
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Mini-Russell Anchor Chart Prep |
The entry
chart shows us easy symmetry resistance at 925.5 which means we are buying
pullbacks above this level or selling retracements below this level assuming
the buyers have failed to keep price-action moving higher. We can see the bullish price-channel and we
have recently broken new higher-highs above the price-channel, which will now
act like a price-magnet along with the PHOD 917.2. price-action must keep moving higher because
if it doesn’t the sellers will drag this price back to the price-channel highs
around 920.0 and even lower below the PHOD 917.2.
chart shows us easy symmetry resistance at 925.5 which means we are buying
pullbacks above this level or selling retracements below this level assuming
the buyers have failed to keep price-action moving higher. We can see the bullish price-channel and we
have recently broken new higher-highs above the price-channel, which will now
act like a price-magnet along with the PHOD 917.2. price-action must keep moving higher because
if it doesn’t the sellers will drag this price back to the price-channel highs
around 920.0 and even lower below the PHOD 917.2.
If we fail
at these new highs we look to sell short below the 925.5 using our symmetry
set-up, and again looking to sell short using the InsideOut Set-up below the
PHOD 917.2. We will use the PLOD 907.4
as our profit-target on the InsideOut Set-up short.
at these new highs we look to sell short below the 925.5 using our symmetry
set-up, and again looking to sell short using the InsideOut Set-up below the
PHOD 917.2. We will use the PLOD 907.4
as our profit-target on the InsideOut Set-up short.
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Mini-Russell Entry Chart Prep |
If we keep rising higher this morning im looking to buy long above the 925.5 and use the next major resistance (from the anchor chart) as my final target @ 930.0 level.
