August 6, 2012
- in Uncategorized by schooloftrade
Morning E-Mini-Russell Checklist:
Heat
Map: What is it telling us?
Map: What is it telling us?
Heat map
says +0.2% so we are sit-on-hands until we get above the 0.3%
says +0.2% so we are sit-on-hands until we get above the 0.3%
OHLC
Analysis:
Analysis:
3 for 4
bullish, so we are looking for longs with this information.
bullish, so we are looking for longs with this information.
Overnight
Highs & Lows:
Highs & Lows:
We are in
the middle of the short-term trading range have not broken the highs or the
lows yet.
the middle of the short-term trading range have not broken the highs or the
lows yet.
Are we
inside or outside day today?
inside or outside day today?
We are
inside day, just below the PHOD. If the
buyers try and FAIL above the PHOD we know to look for selling opportunities when
that occurs.
inside day, just below the PHOD. If the
buyers try and FAIL above the PHOD we know to look for selling opportunities when
that occurs.
What
price-structures do we see?
price-structures do we see?
· Trigger-zones are both above (minor)
and below (major and medium) providing us with ample support and resistance.
and below (major and medium) providing us with ample support and resistance.
· AB=CD Pattern is bullish, we have
major support around the 730.0
major support around the 730.0
· Price wedge is both major and minor,
and we need to use the short term price wedge as our biggest clue today up to
this point.
and we need to use the short term price wedge as our biggest clue today up to
this point.
· Price channel is not showing up on
this 89range chart.
this 89range chart.
· Zigzag require a price channel, so
nothing today
nothing today
· Sideways / Trading Ranges we can see
one in the short term, so sell the highs and buy the lows of this range.
one in the short term, so sell the highs and buy the lows of this range.
· Double-top / Double-bottom
Where
will a reversal be likely today?
will a reversal be likely today?
We will most
likely see the price-reversal at the highs of the price wedge which is also at
the short term trigger-zone resistance.
likely see the price-reversal at the highs of the price wedge which is also at
the short term trigger-zone resistance.
What is
our trading plan for today?
our trading plan for today?
Sell with
the wave-pattern-short if price moves lower at the 930am EST Open on E-Mini-Russell. Our final target will be lows of the price
wedge and this will qualify as a 21_TradePlan.
the wave-pattern-short if price moves lower at the 930am EST Open on E-Mini-Russell. Our final target will be lows of the price
wedge and this will qualify as a 21_TradePlan.
If price
moves higher this morning we know there’s resistance and this is going to be
very challenging to be a buyer. As price
rises I want to wait for the buyers to fail so I can sell these highs. If we get above the ‘C’ point at 798.5 we can
then use our wave-pattern-long to enter long only after looking for the fake-out
breakout.
moves higher this morning we know there’s resistance and this is going to be
very challenging to be a buyer. As price
rises I want to wait for the buyers to fail so I can sell these highs. If we get above the ‘C’ point at 798.5 we can
then use our wave-pattern-long to enter long only after looking for the fake-out
breakout.
