February 27, 2013
- in Uncategorized by schooloftrade
Mini-Russell Anchor Chart Prep
Mini-Russell Anchor Chart Prep |
We can see
the bear price-channel and the 2 price-wedges that have developed with new swing-lows. We can see the previous price-wedge has been
broken to the downside, however, we always like to see if that old price-wedge will
still act like a price-magnet and drag price-action back up higher into the
range it was in earlier this week.
the bear price-channel and the 2 price-wedges that have developed with new swing-lows. We can see the previous price-wedge has been
broken to the downside, however, we always like to see if that old price-wedge will
still act like a price-magnet and drag price-action back up higher into the
range it was in earlier this week.
We open our
faster timeframe entry chart and we can see we are in the middle of the range
from yesterday which tells us immediately to sit-on-hands and wait for either
the test of the highs for a short, or the lows for a long trading opportunity. We need to stay patient and wait for the new higher-highs
to buy pullbacks or new lower-lows to sell retracements.
faster timeframe entry chart and we can see we are in the middle of the range
from yesterday which tells us immediately to sit-on-hands and wait for either
the test of the highs for a short, or the lows for a long trading opportunity. We need to stay patient and wait for the new higher-highs
to buy pullbacks or new lower-lows to sell retracements.
Our entry
chart has given us some big clues this morning, and we will use these to plan
our trading today. As price rises higher
im looking for the InsideOut Set-up to get short when we break above the PHOD and
then get a price-reversal at the 2 levels of resistance overhead at 903.5 and
904.0. We will look to sell short at the highs of the 902.4 PHOD after seeing
the fake-out-breakout and the buyers failing at the highs. We will use the PLOD and the lows of the price-wedge
as our profit-target for the short.
chart has given us some big clues this morning, and we will use these to plan
our trading today. As price rises higher
im looking for the InsideOut Set-up to get short when we break above the PHOD and
then get a price-reversal at the 2 levels of resistance overhead at 903.5 and
904.0. We will look to sell short at the highs of the 902.4 PHOD after seeing
the fake-out-breakout and the buyers failing at the highs. We will use the PLOD and the lows of the price-wedge
as our profit-target for the short.
 |
Mini-Russell ENTRY Chart Prep |
If we can
make it back down to the lows I will be looking to buy-the-lows at support of
the price-wedge and use the PLOD as a reason to look for another InsideOut
Set-up trading opportunity with a profit-target back at the highs of the price-wedge
and the PHOD.
make it back down to the lows I will be looking to buy-the-lows at support of
the price-wedge and use the PLOD as a reason to look for another InsideOut
Set-up trading opportunity with a profit-target back at the highs of the price-wedge
and the PHOD.
