November 8, 2012
- in Uncategorized by schooloftrade
Mini-Russell Anchor Chart Prep:
 |
| Russell Anchor Chart |
We can see
the bearish price-channel, and the bear price-wedge that comes along with
it. We are currently trading of the lows
of this price-channel, and we want buy-the-lows at support for the high-percentage-trades.
the bearish price-channel, and the bear price-wedge that comes along with
it. We are currently trading of the lows
of this price-channel, and we want buy-the-lows at support for the high-percentage-trades.
We are
trading lower this morning, outside the range from Wednesday and looking very
bearish.
trading lower this morning, outside the range from Wednesday and looking very
bearish.
Our day
trading strategy for the Mini-Russell is to buy these lows after we see the
sellers exhausted and failed. We’re
looking for a price-reversal at the lows of the price-channel and the trend
line support. The profit-target for the
buyers at the lows will be the highs of the bear price-channel. If we can get all the way to the highs around
825.00 we exit the trade and then look for another price-reversal and sell it
short off the highs.
trading strategy for the Mini-Russell is to buy these lows after we see the
sellers exhausted and failed. We’re
looking for a price-reversal at the lows of the price-channel and the trend
line support. The profit-target for the
buyers at the lows will be the highs of the bear price-channel. If we can get all the way to the highs around
825.00 we exit the trade and then look for another price-reversal and sell it
short off the highs.
If the
sellers are very strong and price keeps moving lower we know the sellers are
going to have trouble moving this to new lower-lows with consistency. We will likely see moves push it lower only
to reverse and bounce back up.
sellers are very strong and price keeps moving lower we know the sellers are
going to have trouble moving this to new lower-lows with consistency. We will likely see moves push it lower only
to reverse and bounce back up.
Our day
trading strategy for the Mini-Russell says that we will sit-on-hands with price
falling, looking to buy at support as price keeps falling. If price rises I’m buying the lows of the price-wedge
and the price-channel as the high-percentage-trades.
trading strategy for the Mini-Russell says that we will sit-on-hands with price
falling, looking to buy at support as price keeps falling. If price rises I’m buying the lows of the price-wedge
and the price-channel as the high-percentage-trades.
