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E-Mini-Russell day trading strategy
data to find the major swing highs from almost a year ago at levels such as
848.5 and 857.3 for us to use as resistance if price keeps moving higher.
and the buyers have failed above the PHOD.
We can also see two different bearish AB=CD patterns both of which give
us overhead resistance to work with as price rises.
along with selling the resistance at 848.5 and selling as price rises to new higher-highs
at resistance. We can see lots of wide
open space below the PHOD so it makes no sense to force trades long, and makes
all the sense to be patient and wait for the buyers to exhaust at these highs,
wait for the dollar index to move higher off support, and then sell the resistance
and sell the highs of the price channel and below the PHOD with a 2-step short
or wave long failure pattern.
If price moves lower we are selling retracements
below the PHOD and taking profit target at the trigger-zone support at the price
channel lows around the PLOD at 829.1.
then look to buy the lows of the price channel and the PLOD as support
with the final target buying the lows back at the highs of the range and the PHOD.
day trading strategy e-mini |