October 31, 2012
- in Uncategorized by schooloftrade
Mini-Russell Chart Prep:
We can seethe Mini-Russell trading at the highs of the short term bear price-channel,
along with a major bear price-channel when you zoom out on the 21range chart.
We are
trading above the PHOD so this morning we are bullish and considered an outside
day. If price keeps moving higher we buy
pullbacks up to the highs of the price-channel for a profit-target. If price moves back below the PHOD we will
sell short below 809.5 as the buyers will have failed.
trading above the PHOD so this morning we are bullish and considered an outside
day. If price keeps moving higher we buy
pullbacks up to the highs of the price-channel for a profit-target. If price moves back below the PHOD we will
sell short below 809.5 as the buyers will have failed.
We can see
the bearish AB=CD Pattern providing us with resistance at 818.0 and a place to
take profit for the buyers, or sell the highs for the sellers.
the bearish AB=CD Pattern providing us with resistance at 818.0 and a place to
take profit for the buyers, or sell the highs for the sellers.
We can draw
a trend line from the lows and we find a short term sideways price-wedge.
a trend line from the lows and we find a short term sideways price-wedge.
