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bull price channel E-Mini Russell Technical Prep
Quick reminder that the dollar index is rising,
and we are looking for selling opportunities on the E-Mini-Russell. We can see bull price channel along with
multiple bullish price wedges. We can
see the trigger-zone support below us (A to B) and we can see that if we break
below the 772.0 support we not only violate the major support from the trigger-zone
but this also becomes an AB=CD Pattern failure, and price should drop quickly to
the next level of support 760.1.
We are
trading below the PLOD, making this an outside trading day, and giving us
another clue that the sellers are in control.
Our plan today is to sell short with wave-pattern below 772.0 looking
for the sellers to be in clear control.
If the sellers cannot make new lower-lows we then buy this support as
the high-percentage trades come buying at the price channel lows.