March 1, 2013
- in Uncategorized by schooloftrade
Mini-Russell Anchor Chart Prep
 |
Mini-Russell Anchor Chart Prep |
We are
trading lower this morning, below the LOD from Thursday, so we have 2 scenarios
to consider. First, with new lower-lows we
use the Wave Set-Up to get short and use the PLOD’s from earlier this week around
895.0. Second, if price-action stalls at
these lows and gets back above the PLOD 906.7 we then use the InsideOut Set-up to
get long with a profit-target at the PHOD 915.5. We can also take a portion of our position off
at the HOD today 909.5 and then hold a runner up to the PHOD.
trading lower this morning, below the LOD from Thursday, so we have 2 scenarios
to consider. First, with new lower-lows we
use the Wave Set-Up to get short and use the PLOD’s from earlier this week around
895.0. Second, if price-action stalls at
these lows and gets back above the PLOD 906.7 we then use the InsideOut Set-up to
get long with a profit-target at the PHOD 915.5. We can also take a portion of our position off
at the HOD today 909.5 and then hold a runner up to the PHOD.
 |
Mini-Russell entry Chart Prep |
We can see
on our anchor chart that we have major symmetry resistance around 920.0 which
was broken initially but clearly now the buyers could not hold price-action above
this level and now we are seeing a price-reversal and a short directional
bias. We can also see a short term bear price-channel
and just recently we got the Max Set-Up cross.
We are looking for selling short down to the oversold zone at 864.5
using our entry signals on the entry chart timeframe.
on our anchor chart that we have major symmetry resistance around 920.0 which
was broken initially but clearly now the buyers could not hold price-action above
this level and now we are seeing a price-reversal and a short directional
bias. We can also see a short term bear price-channel
and just recently we got the Max Set-Up cross.
We are looking for selling short down to the oversold zone at 864.5
using our entry signals on the entry chart timeframe.
