October 11, 2012
- in Uncategorized by schooloftrade
Morning Mini-Russell Checklist:
Heat Map
Review:
The Mini-Russell
is considered a moving market personality with +0.8%
is considered a moving market personality with +0.8%
Overnight
Highs & Lows:
Highs & Lows:
Overnight
lows were never tested, and with new higher-lows in price and a successful
break of the PHOD and the overnight highs this is bullish. We also see the RED DOJI which is telling us
to be ready for the price-reversal.
lows were never tested, and with new higher-lows in price and a successful
break of the PHOD and the overnight highs this is bullish. We also see the RED DOJI which is telling us
to be ready for the price-reversal.
Inside or
Outside Day?
Outside Day?
We are above
the PHOD so we are bullish until we get back below the PHOD. We will sell short below the PHOD when the
buyers fail.
the PHOD so we are bullish until we get back below the PHOD. We will sell short below the PHOD when the
buyers fail.
Find the price-structures: · Trigger-zone is resistance at 836.5
and support at 822.5
and support at 822.5
· AB=CD Pattern is bullish at 814.5
area
area
· Price-wedge is bearish, inside the
bearish price-channel.
bearish price-channel.
· Price-channel is major and bullish in
the long term.
the long term.
· Zigzag pattern is not on this chart
· Trading Range from 852.1 down to
821.1, sell-the-high at resistance and buy-the-lows at support.
821.1, sell-the-high at resistance and buy-the-lows at support.
· Double-top / Double-bottom not on
this 89range chart.
this 89range chart.
Wherewill a reversal be likely today?
Price-reversals
are likely today around the highs and the lows of the bear price-channel, the
bear price-wedge, and the trading range.
are likely today around the highs and the lows of the bear price-channel, the
bear price-wedge, and the trading range.
What is
our trading plan for today?
our trading plan for today?
If price moves higher, above the PHOD we use wave-pattern-long
to buy. We will take profit-target at
the highs of the range or price-wedge highs and then look to sell those highs
at resistance.
to buy. We will take profit-target at
the highs of the range or price-wedge highs and then look to sell those highs
at resistance.
If price moves lower we will sell below the PHOD as the
buyers have failed, and at the lows of the price-wedge we will look for the price-reversal
and buy-the-lows at support.
buyers have failed, and at the lows of the price-wedge we will look for the price-reversal
and buy-the-lows at support.
If price wants to keep moving lower through the price-wedge lows
and below the PLOD we MAY have enough room to sell short with a profit-target at
the price-channel lows and AB=CD Pattern completion around 814.5. Once we find ourselves at the lows of the price-channel
or at the bullish AB=CD Pattern we will then look to buy.
and below the PLOD we MAY have enough room to sell short with a profit-target at
the price-channel lows and AB=CD Pattern completion around 814.5. Once we find ourselves at the lows of the price-channel
or at the bullish AB=CD Pattern we will then look to buy.
