Lets Prep For This Afternoon’s Day Trading…

21 Range Russell

We had another profitable day in our live trade room, but we are also watching some easy patterns for all our members trading the afternoon sesssion…

The Russell has finally broken its overhead reisstance, and looking for us to buy this breakout on the 21Range chart.
 

My entry will be long above 61.8, taking profit targets @ 3.8 for half my position, and move my stop to entry to lock out all the risk.

Once my first target is filled, then look for targets @ 67.0 and the final target @ 74.0, which is a double-top on the Russell Futures.

The only concern we have with this trade is SPEED of the market….if you are watching the Pace of Tape, the Russell is still chopping around from this morning, so look for the SPEED to increase first, and then look for entry.
 
 
21 Range Russell 2-Step Short
 

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
   
   
       (Click Image To Enlarge)

So what happens if the Russell fuutres contract does NOT break new highs? What happens if we see SLOW speed and big money SELLERS at these highs?

If we dont trigger the long entry, lets look for the reversal off these new highs, taking advanctage of the SLOW sluggish market, looking for the buyers to tire themselves out and give the sellers a chance to grab this trade SHORT

I’m going to look for entry below 59.0, taking my first profit target at 58.0

My second and third targets will come at the next levels of support from the russell 13-range chart.

I will take my final 2 targets at 55.4, above support from the trendline and the red line on my chart, and then finally at 54.0 which is the HOD from last week.
 
No matter which direction this market goes, we are ready and prepared for it!