August 10, 2012
- in Uncategorized by schooloftrade
Morning E-Mini-Russell Checklist:
 |
| E-MINI RUSSELL TRADING STRATEGY |
Heat
Map: What is it telling us?
Map: What is it telling us?
E-Mini-Russell
on heat map say sbearish.
on heat map say sbearish.
OHLC
Analysis:
Analysis:
3 out of 4
are higher-highs, but this dollar index is pushing it lower.
are higher-highs, but this dollar index is pushing it lower.
Overnight
Highs & Lows:
Highs & Lows:
We have
broken the lows from this morning and overnight, and we are on a mission to
test Thursday’s LOD, the PLOD.
broken the lows from this morning and overnight, and we are on a mission to
test Thursday’s LOD, the PLOD.
Are we
inside or outside day today?
inside or outside day today?
We are
inside the range from Thursday and are almost about to test the PLOD. Remember, this is support first so we can buy
the PLOD (take profit target on your short) and then we go below the PLOD and
then use wave-pattern-short to keep selling.
inside the range from Thursday and are almost about to test the PLOD. Remember, this is support first so we can buy
the PLOD (take profit target on your short) and then we go below the PLOD and
then use wave-pattern-short to keep selling.
What
price-structures do we see?
price-structures do we see?
· Trigger-zone is support below us
· AB=CD Pattern is bullish and we are
trading sideways at the ‘C’ point which means this is a transitional area.
trading sideways at the ‘C’ point which means this is a transitional area.
· Price wedge is sideways and we have
two of them, one of them is a price magnet below us.
two of them, one of them is a price magnet below us.
· Price channel is not on this 89range
chart.
chart.
· Sideways Trading Range from 810.0
down to 760.0
down to 760.0
· Double-bottom provides resistance overhead
which was tested earlier this week.
which was tested earlier this week.
Where
will a reversal be likely today?
will a reversal be likely today?
The price-reversal
is likely RIGHT HERE and NOW coming off the ‘C’ point of the AB=CD Pattern,
being just below the double-bottom resistance and above to tumble below the PLOD.
is likely RIGHT HERE and NOW coming off the ‘C’ point of the AB=CD Pattern,
being just below the double-bottom resistance and above to tumble below the PLOD.
What is
our trading plan for today?
our trading plan for today?
If price
rises we’re going to buy above the 805.3 resistance overhead, and on the way up
we’re looking for the buyers to fail and a price-reversal so we can see these
highs. I can buy with wave-pattern-long up
to the PHOD, but then we need to take profit and stop buying until above 805.3.
rises we’re going to buy above the 805.3 resistance overhead, and on the way up
we’re looking for the buyers to fail and a price-reversal so we can see these
highs. I can buy with wave-pattern-long up
to the PHOD, but then we need to take profit and stop buying until above 805.3.
If price moves lower, it will be working with
the dollar index correlation and we will sell short below the PLOD, as long as
we aren’t selling into the 794.6 support.
We cant sell into this support so wait for it to turn into resistance and
then use wave-pattern-short to sell. Take profit target at the support levels
below you, trigger-line, trigger-zone, price wedge lows.
