February 7, 2013
- in Uncategorized by schooloftrade
Mini-Russell Anchor Chart Prep
 |
| Mini-Russell Anchor Chart Prep |
We can see
the Mini-Russell Futures trading just above the PHOD from Wednesday. We can see the doji candlesticks above the PHOD
which tells us the buyers and sellers are confused. This candlestick pattern at the highs tells
us that new higher-highs will bring the Wave Set-Up opportunity to get long,
and new lower-lows below the PLOD will give us the InsideOut Set-up short.
the Mini-Russell Futures trading just above the PHOD from Wednesday. We can see the doji candlesticks above the PHOD
which tells us the buyers and sellers are confused. This candlestick pattern at the highs tells
us that new higher-highs will bring the Wave Set-Up opportunity to get long,
and new lower-lows below the PLOD will give us the InsideOut Set-up short.
We look even
closer and we can see PERFECT Symmetry resistance at the 911.0 level. This tells us that the short side is the
higher percentage trade AFTER the test of the 911.0. The biggest clue this tells us is to AVOID
trading long with the Wave Set-Up until we get above (stay above) the 911.0 resistance.
closer and we can see PERFECT Symmetry resistance at the 911.0 level. This tells us that the short side is the
higher percentage trade AFTER the test of the 911.0. The biggest clue this tells us is to AVOID
trading long with the Wave Set-Up until we get above (stay above) the 911.0 resistance.
We can see
the short term price-wedge will be an easy price magnet to drag the price-action
lower if the lows of the new short term bull price-channel cannot hold as
support. As price falls lower if the
sellers can break the lows of the bull price-channel around 904.5 we will then
get short selling the highs of the price-wedge and using the long term bear price-channel
as our guide.
the short term price-wedge will be an easy price magnet to drag the price-action
lower if the lows of the new short term bull price-channel cannot hold as
support. As price falls lower if the
sellers can break the lows of the bull price-channel around 904.5 we will then
get short selling the highs of the price-wedge and using the long term bear price-channel
as our guide.
Our day
trading plan for the Mini-Russell is to sell short below the PHOD and take profit-target
at the lows of the bull price-channel and then wait to buy the lows of the price-channel
around the 905.0 area.
trading plan for the Mini-Russell is to sell short below the PHOD and take profit-target
at the lows of the bull price-channel and then wait to buy the lows of the price-channel
around the 905.0 area.
If the sellers
are too strong and the lows of the bull price-channel cannot hold, we want to
use the Wave Set-Up short to sell below the 905.0-904.0 area to effectively be
selling the highs of the price-wedge. Take
your profit-target at the lows of the price-wedge and then look to buy the
lows.
are too strong and the lows of the bull price-channel cannot hold, we want to
use the Wave Set-Up short to sell below the 905.0-904.0 area to effectively be
selling the highs of the price-wedge. Take
your profit-target at the lows of the price-wedge and then look to buy the
lows.
