February 28, 2013
E-Mini S&P Anchor Chart Prep
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E-Mini S&P Anchor Chart Prep |
We can see
the E-Mini S&P trading at the highs of the price-wedge on the anchor chart,
and the highs of the range on our entry chart.
the E-Mini S&P trading at the highs of the price-wedge on the anchor chart,
and the highs of the range on our entry chart.
We see a BIG
CLUE on the entry chart with the fake-out-breakout
(token print) just above the PHOD. We LOVE
to see the fake-out-breakout around the highs and lows and we are looking to
get short with the next entry signal below the PHOD. We will use the trigger-zone and trend line support
for our profit-target to scale-out of the position, and try to hold our runner profit-target
down to the PLOD around 1490.0.
CLUE on the entry chart with the fake-out-breakout
(token print) just above the PHOD. We LOVE
to see the fake-out-breakout around the highs and lows and we are looking to
get short with the next entry signal below the PHOD. We will use the trigger-zone and trend line support
for our profit-target to scale-out of the position, and try to hold our runner profit-target
down to the PLOD around 1490.0.
The anchor
chart shows us a double-bottom however the levels of resistance we get from
this set-up have been broken and therefor this set-up is disqualified.
chart shows us a double-bottom however the levels of resistance we get from
this set-up have been broken and therefor this set-up is disqualified.
Our day
trading plan for the E-Mini S&P is to sell short with our next entry signal
using the fake-out-breakout and the InsideOut Set-up as our biggest clues. We will take our profit-target at the support
levels below us at 1511.25, 1503.0 and the runner profit-target all the way at
the lows of 1490.0 PLOD.
trading plan for the E-Mini S&P is to sell short with our next entry signal
using the fake-out-breakout and the InsideOut Set-up as our biggest clues. We will take our profit-target at the support
levels below us at 1511.25, 1503.0 and the runner profit-target all the way at
the lows of 1490.0 PLOD.
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E-Mini S&P ENTRY Chart Prep |
If price
wants to try and go higher we will first look for another fake-out-breakout to
get short because we have a price-wedge on our anchor chart. If the buyers are too strong to allow the resistance
to hold, we will then use the Wave Set-Up to buy with the strength from the
buyers pushing higher. If we can get
into this on the buy-side our profit-target is the resistance zone above us at
1524.50.
wants to try and go higher we will first look for another fake-out-breakout to
get short because we have a price-wedge on our anchor chart. If the buyers are too strong to allow the resistance
to hold, we will then use the Wave Set-Up to buy with the strength from the
buyers pushing higher. If we can get
into this on the buy-side our profit-target is the resistance zone above us at
1524.50.
