January 28, 2013
- in Uncategorized by schooloftrade
Mini-Russell Anchor Chart Prep
 |
| Mini-Russell Anchor Chart Prep |
The price-action
on the Mini-Russell takes us above the PHOD and therefor we have 2 set-ups to
look for this morning right away. First,
with new higher-highs above the PHOD we will use the Wave Set-Up to get
long. Second, if the buyers fail above
the PHOD and price pushes lower below the 904.7 we then use the InsideOut
Set-up to get short. Our profit-target for
the long is the top of the bull price-channel, and the profit-target for the
short is the low of the price-channel along with the PLOD as a runner.
on the Mini-Russell takes us above the PHOD and therefor we have 2 set-ups to
look for this morning right away. First,
with new higher-highs above the PHOD we will use the Wave Set-Up to get
long. Second, if the buyers fail above
the PHOD and price pushes lower below the 904.7 we then use the InsideOut
Set-up to get short. Our profit-target for
the long is the top of the bull price-channel, and the profit-target for the
short is the low of the price-channel along with the PLOD as a runner.
We can see
the symmetry resistance at 906.3 which will make for an excellent price-reversal
if these buyers give up on the new higher-highs.
the symmetry resistance at 906.3 which will make for an excellent price-reversal
if these buyers give up on the new higher-highs.
Bullish price-channel
tells us there is a high-percentage-trade buying the lows around 900.0 big-round-numbers. If we can get price-action down to the price-channel
lows we will then look to buy with a profit-target at the PHOD and the price-channel
highs.
tells us there is a high-percentage-trade buying the lows around 900.0 big-round-numbers. If we can get price-action down to the price-channel
lows we will then look to buy with a profit-target at the PHOD and the price-channel
highs.
Our day
trading plan for the Mini-Russell this morning is to buy above the PHOD and
sell below the PHOD. We will use the
bullish price-channel as a market sentiment clue and look to buy the lows of
the price-channel around the big-round-number of 900. We want to use the symmetry resistance as a
location for a profit-target or a price-reversal and then also use the price-channel
highs around 910.0 as a profit-target for the Wave Set-Up.
trading plan for the Mini-Russell this morning is to buy above the PHOD and
sell below the PHOD. We will use the
bullish price-channel as a market sentiment clue and look to buy the lows of
the price-channel around the big-round-number of 900. We want to use the symmetry resistance as a
location for a profit-target or a price-reversal and then also use the price-channel
highs around 910.0 as a profit-target for the Wave Set-Up.
