E-Mini-Russell is trading in the middle of the trading range

E-Mini-Russell
is trading in the middle of the range from yesterday, with a perfect example of
a 55-range wave pattern short, which
can give us the directional bias to trade short with a faster chart timeframe
such as 13 or 21 wave pattern.  We can
see a bullish AB=CD Pattern support at the 753.0 area below us, making this an
excellent profit target and location to buy in the future.  The biggest concern or clue from the E-Mini-Russell
is that we’re dead middle of Tuesday’s trading range.  In the middle of any range we need to assume
this price-action is going to be challenging. 
We would prefer today to trade the PHOD or the PLOD rather than the middle.  Wait patiently for the E-Mini-Russell to try
and make new lower-lows and look for the price-reversal.  If we don’t get the reversal, we may have
room and market personality to sell short with wave-pattern, but selling into price
channel support is higher risk.  If price
rises above the ‘C’ point on the 55-range chart we then will consider this to
be bullish and will buy with wave-pattern above 772.9 with profit target at
77.5, 779.0 PHOD, and then 783.0 for final target.  If we get above the PHOD we are now bullish
so get on the buy-side and keep buying new higher-highs with a wave pattern
long.