November 13, 2012
- in Uncategorized by schooloftrade
Mini-Russell Afternoon Session Prep:
Our day
trading strategy for the close of the day on the Mini-Russell is to use the
bear price-channel, the price-wedge and the bullish AB=CD Pattern.
 |
| Mini-Russell Chart Prep |
If price
falls lower we sell short below the PLOD, and take profit at the lows of the price-wedge,
where we will look to buy. If price keeps
on going lower we will NOT be able to sell short because of too much support. We will, however, sit-on-hands and wait to buy-the-lows
at support 779.5 AB=CD Pattern and the lows of the trigger-zone.
falls lower we sell short below the PLOD, and take profit at the lows of the price-wedge,
where we will look to buy. If price keeps
on going lower we will NOT be able to sell short because of too much support. We will, however, sit-on-hands and wait to buy-the-lows
at support 779.5 AB=CD Pattern and the lows of the trigger-zone.
If price
moves higher we will sit-on-hands in the middle of the range and look for market
personality clues to see who is in control.
We can buy pullbacks with new higher-highs with a profit-target at the PHOD
and the 799.3 resistance overhead.
moves higher we will sit-on-hands in the middle of the range and look for market
personality clues to see who is in control.
We can buy pullbacks with new higher-highs with a profit-target at the PHOD
and the 799.3 resistance overhead.
If pricetrades sideways this afternoon we need to sit-on-hands because the sloppy market
personality around the PLOD has been plaguing this market all day long. We don’t want to get slopped up at this PLOD if
nobody’s in charge.
