April 11, 2012
- in Uncategorized by schooloftrade
E-Mini-Russell day trading strategy
We can see three bull price channels on the 89range
chart. We have short term (which have
been broken) and we have long term which are still waiting to be tested at the
lows.
chart. We have short term (which have
been broken) and we have long term which are still waiting to be tested at the
lows.
The most important thing I see on this is the bull price
channel and the support below the bull price channel.
channel and the support below the bull price channel.
We find 2 new trigger-zone as support below us using the
major swing-high and the 2 major and minor swing-low’s to find them. The goal will be to sell below the HIGH of
the trigger-zone and take profit at the lows of the trigger-zone.
major swing-high and the 2 major and minor swing-low’s to find them. The goal will be to sell below the HIGH of
the trigger-zone and take profit at the lows of the trigger-zone.
If price moves lower I’m buying support at the line in the
sand around 780.0 and then if price moves lower below the line in the sand we
now know the sellers have taken charger, the buyers have failed, and we want to
sell retracements.
sand around 780.0 and then if price moves lower below the line in the sand we
now know the sellers have taken charger, the buyers have failed, and we want to
sell retracements.
If price moves lower, The goal will be to sell below the
777.4, the best trade will be selling below 772.0 and then hold that short
position to the lows of the trigger-zone at 756.0 take profit at the lows and
then look to re-enter another short position below 751.0 and then take profit
at the price channel lows.
777.4, the best trade will be selling below 772.0 and then hold that short
position to the lows of the trigger-zone at 756.0 take profit at the lows and
then look to re-enter another short position below 751.0 and then take profit
at the price channel lows.
The dollar index heat map says to be a buyer
today, so we can buy pullbacks with new higher-highs above the PLOD and then
looking to aggressively buy the lows of the price channel above 791.0 area or
higher, just make sure you buy above the lows of the blue price channel. Keep an eye on the BMT 796.8 as a good profit
target and beware trying to re-enter the trades around this BMT. Remember the PHOD is a transitional level
which means if the sellers hold it we will sell it as resistance, but if the
buyers push through the PHOD we then buy pullbacks knowing the buyers are in
control.
