July 30, 2012
- in Uncategorized by schooloftrade
E-Mini-Russell Charts Checklist:
Heat Map: What is it
telling us?
telling us?
Heat map says +0.2% which is less than our minimum so we
assume this will be sloppy until something.
assume this will be sloppy until something.
OHLC Analysis:
We have higher-highs across all 4, we assume we are bullish.
Overnight Highs & Lows:
We broke the overnight highs (bullish) but just failed
moments later and we’re now
moments later and we’re now
assumed to be bearish.
Are we inside or outside day today?
Inside day, below the PHOD and we JUST failed at these
highs. This failure says SELL THIS SHORT
below the PHOD and take final target at PLOD.
highs. This failure says SELL THIS SHORT
below the PHOD and take final target at PLOD.
What price-structures do we see?
·
Trigger-zones
are above us for the major resistance and below us for the short term support.
Trigger-zones
are above us for the major resistance and below us for the short term support.
·
AB=CD
Pattern has not set-up on this chart yet we need price to drop off these highs
inside the trigger-zone resistance so this bullish AB=CD Pattern will trigger.
AB=CD
Pattern has not set-up on this chart yet we need price to drop off these highs
inside the trigger-zone resistance so this bullish AB=CD Pattern will trigger.
·
Price
wedge is there in blue triangle.
Price
wedge is there in blue triangle.
·
Price
channel is bearish, and has been proven to be advanced price-structures.
Price
channel is bearish, and has been proven to be advanced price-structures.
·
Zigzag
is bearish and gives us another BIG reason to wait to sell the highs on
E-Mini-Russell.
Zigzag
is bearish and gives us another BIG reason to wait to sell the highs on
E-Mini-Russell.
·
Sideways
/ Trading Ranges are not on this chart
Sideways
/ Trading Ranges are not on this chart
·
Double-top
/ Double-bottom are not on this chart.
Double-top
/ Double-bottom are not on this chart.
Where will a reversal be likely today?
Right here!!!! We see
the bearish price channel is confirmed as advanced price-structures along with
a bearish AB=CD Pattern that is proven to be a zigzag which is the
high-percentage trades we can every find!
We assume the buyers will try, so we need to see either lower-lows or a
failed new higher-highs before we get this reversal.
the bearish price channel is confirmed as advanced price-structures along with
a bearish AB=CD Pattern that is proven to be a zigzag which is the
high-percentage trades we can every find!
We assume the buyers will try, so we need to see either lower-lows or a
failed new higher-highs before we get this reversal.
What is our trading plan for today?
To stay patient, its sloppy out there, and look to sell these
highs of the price wedge, the price channel, and the bearish AB=CD Pattern.
highs of the price wedge, the price channel, and the bearish AB=CD Pattern.
The doji candlestick pattern we have on the 89range tells us
this market is trying to do something but is doing much.
this market is trying to do something but is doing much.
If we see new higher-highs in price we will stay patient
looking for the buyers to fail so we can sell this advanced price-structures.
looking for the buyers to fail so we can sell this advanced price-structures.
If we see lower-lows if the sellers take control, I want to
wait and sell below 88.3 so I can get short below the major support levels and
have free space to fall down to easy profit target at trigger-zone support and
the PLOD.
wait and sell below 88.3 so I can get short below the major support levels and
have free space to fall down to easy profit target at trigger-zone support and
the PLOD.
