February 21, 2012
- in Uncategorized by schooloftrade
The E-Mini-Russell day trading strategy
Our day trading strategy for the E-Mini-Russell uses the
slower 89 range chart to locate the major AB=CD reversal-zone over head which
is major resistance and we can see the sideways ranges that have developed at
these highs.
slower 89 range chart to locate the major AB=CD reversal-zone over head which
is major resistance and we can see the sideways ranges that have developed at
these highs.
We are trading off the AB=CD reversal-zone resistance, below
the range from Monday, and headed to the lows of the price channel. As price moves lower below PLOD on E-Mini-Russell
we want to sell retracements with new lower-lows making sure we get below the
key levels of support such as 825.7 and 824.0 on our multiple timeframes.
the range from Monday, and headed to the lows of the price channel. As price moves lower below PLOD on E-Mini-Russell
we want to sell retracements with new lower-lows making sure we get below the
key levels of support such as 825.7 and 824.0 on our multiple timeframes.
We need to be careful not to sell too close to the support
levels at the lows of the price channel and the 810.0 is the double-top max
extension MAJOR support so keep an eye on enough room for the trade short to
play our and buy the lows of this price channel and the DOUBLE-TOP support.
levels at the lows of the price channel and the 810.0 is the double-top max
extension MAJOR support so keep an eye on enough room for the trade short to
play our and buy the lows of this price channel and the DOUBLE-TOP support.
The E-Mini-Russell 34-range chart shows us much of the same day
trading strategy as the slower timeframes.
We want to sell retracements below PLOD and use the trigger-zone support
as a profit target. Make sure you don’t sell
short too close to the support below us.
Below 818.0 we can sell short again however we need to look at the
amount of room it has to run from 818. Down to the price channel lows and the double-top
support at 810.0 there may not be enough room by the time price moves lower
later today/week.
trading strategy as the slower timeframes.
We want to sell retracements below PLOD and use the trigger-zone support
as a profit target. Make sure you don’t sell
short too close to the support below us.
Below 818.0 we can sell short again however we need to look at the
amount of room it has to run from 818. Down to the price channel lows and the double-top
support at 810.0 there may not be enough room by the time price moves lower
later today/week.
Also, if E-Mini-Russell goes back above PLOD we can see the
sellers have failed and the buyers will be strong so enter long above the PLOD with
a pullbacks or 2step reversal pattern.
sellers have failed and the buyers will be strong so enter long above the PLOD with
a pullbacks or 2step reversal pattern.
You can see the Russell 21 wave short setting up for a selling opportunity as we speak.
