February 4, 2013

Mini-Russell Anchor Chart Prep

Mini-Russell Anchor Chart Prep

The Mini-Russell
this morning is trading at the PLOD from Friday, which gives us two trading
opportunities.  First, if we see new lower-lows
below 902.5 we will sell short using the Wave Set-Up.  Second, if the sellers fail to move lower, we
will look for the InsideOut Set-up to buy the PLOD above the 902.5 and take
profit at the Midas Profit-Target and the PHOD 912.0
We can see a
double-top which was already disqualified because of the broken support levels
below it, and we see a symmetry support level at 896.0 using the most recent
swings.  Lastly, we see a bullish price-channel
using the most recent highs and lows.
Our day
trading plan for the Mini-Russell is to buy the PLOD as the sellers are failing
using our InsideOut Set-up.  If the
sellers can push this lower we will sell short using the Wave Set-Up.  Our profit-target for the long-side is the Midas
Profit-Target and the PHOD.  The profit-target
for the short-side is the same Midas Profit-Target and the symmetry support at
896.0.

    schooloftrade

    Click Here to Leave a Comment Below

    Leave a Reply: