February 14, 2012
- in Uncategorized by schooloftrade
Mini-Russell day trading strategy
The Russell day trading strategy uses the slower 89 range
chart first to find the most important levels of support and resistance. We can see the major AB=CD Pattern produced
strong resistance at 832.0 and price is falling lower off of it. We can see the short term price wedge, we are
trading just below the lows from Monday, making this an outside trading day,
and we have located major levels of support below us using our trigger-zone tool
and the multiple swing lows that we can see marked on this chart.
chart first to find the most important levels of support and resistance. We can see the major AB=CD Pattern produced
strong resistance at 832.0 and price is falling lower off of it. We can see the short term price wedge, we are
trading just below the lows from Monday, making this an outside trading day,
and we have located major levels of support below us using our trigger-zone tool
and the multiple swing lows that we can see marked on this chart.
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| Russell Day Trading Strategy |
We can see the 55 range chart has a major bull price
channel on it, which will be major support if price drops. We will take profit on the shorts at 810.0 double-top
support and as price falls we will continue to wait for buying
opportunities. If price moves above the PLOD
we want to buy the lows of the price wedge and take profit at the highs of the price
wedge. Look to sell the price wedge highs
and sell the PHOD as resistance, then buying pullbacks if price makes new higher-highs
above the 826.0
