November 1, 2012
- in Uncategorized by schooloftrade
Mini-Russell futures day trading prep:
The 30-minute
chart of the Mini-Russell confirms a bullish market sentiment with higher-lows and
higher-highs as price pushes and stays above the PHOD.
We are
trading OUTSIDE DAY above the PHOD which means we have a breakout market
personality that is considered bullish.
trading OUTSIDE DAY above the PHOD which means we have a breakout market
personality that is considered bullish.
We can see a
bearish price-wedge on the 89range chart which tells us to sell-the-high at
resistance as the high-percentage-trades.
bearish price-wedge on the 89range chart which tells us to sell-the-high at
resistance as the high-percentage-trades.
The bearish price-channeltells us that selling at the highs will be considered the high-percentage-trades
today. With that said, we also can see
that the lows of this price-wedge around 800.0 are also the lows of the MAJOR
bullish price-wedge so we indeed can also look to buy-the-lows at support if
price falls.
We open the21-range chart and we can see a TON of clues for us to profit from today. We have the bearish AB=CD Pattern at the
825.0 area, along with the resistance from the trigger-zone, and the price-wedge
highs. We are looking to sell short off
this resistance.
