October 25, 2012
- in Uncategorized by schooloftrade
Mini-Russell Futures Morning Prep:
Overnight we
saw higher-highs, and higher lows. This
is bullish clue. We can see the BIG WICK to the most recent candlestick, which
is a big clue for a possible price-reversal.
A big clue
comes when we use the recent swing-low at 803.7 and the 2 recent swing-highs up
at 841.8 and 852.1. we used our trigger-zone
tool (Fibonacci tool) to draw trigger-zone resistance starting at 822.5, with a
confluence of resistance levels at 827.5 (multiple levels).
comes when we use the recent swing-low at 803.7 and the 2 recent swing-highs up
at 841.8 and 852.1. we used our trigger-zone
tool (Fibonacci tool) to draw trigger-zone resistance starting at 822.5, with a
confluence of resistance levels at 827.5 (multiple levels).
We have a
bullish AB=CD Pattern at 804.5 where we will look for buying opportunities.
bullish AB=CD Pattern at 804.5 where we will look for buying opportunities.
We can see a
major price-wedge when we draw trend lines from the swing-highs and the swing-lows. We want to buy the lows and sell the highs of
this price-wedge.
major price-wedge when we draw trend lines from the swing-highs and the swing-lows. We want to buy the lows and sell the highs of
this price-wedge.
We see abearish price-channel which means the high-percentage-trades occur by selling
at the highs. We are at the lows, so the
high-percentage-trades will have wait.
A price-reversal
is likely as price rises at the PHOD and the resistance overhead at 822.3 so we
are looking for the buyers to fail, using a 2step pattern short, we will sell-the-high
at resistance.
is likely as price rises at the PHOD and the resistance overhead at 822.3 so we
are looking for the buyers to fail, using a 2step pattern short, we will sell-the-high
at resistance.
If price
moves lower we look for the price-reversal at the PLOD, the AB=CD Pattern support
804.5, and the lows of the range at 803.7.
moves lower we look for the price-reversal at the PLOD, the AB=CD Pattern support
804.5, and the lows of the range at 803.7.
Our day
trading strategy for the Mini-Russell is to sell short down to the PLOD after
seeing the PHOD fail as resistance. Remember
the PHOD was tested and the buyers failed, which is a big bearish clue. As we go lower use the wave-pattern-short to
enter the market with sellers and hold to the lows of the range.
trading strategy for the Mini-Russell is to sell short down to the PLOD after
seeing the PHOD fail as resistance. Remember
the PHOD was tested and the buyers failed, which is a big bearish clue. As we go lower use the wave-pattern-short to
enter the market with sellers and hold to the lows of the range.
If price
decides to jump up and move above the PHOD we will look for the fake-out-breakout
first (look what happened before) then with strong buyers we look for the wave-pattern-long
and we buy with a profit-target up at 822.3 and 822.5. a nice runner profit-target would be at the
827.5 which is 2 levels of resistance at the same point.
decides to jump up and move above the PHOD we will look for the fake-out-breakout
first (look what happened before) then with strong buyers we look for the wave-pattern-long
and we buy with a profit-target up at 822.3 and 822.5. a nice runner profit-target would be at the
827.5 which is 2 levels of resistance at the same point.
