December 11, 2012
- in Uncategorized by schooloftrade
Mini-Russell Day trading plan
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| Mini-Russell Day trading plan |
This morning
the Mini-Russell has broken to new higher-highs and is ripe for a price-reversal
after a fake-out-breakout. We are
looking for the buyers to fail and give the sellers a chance to grab this price-action
and drag it back down into the range from Monday.
the Mini-Russell has broken to new higher-highs and is ripe for a price-reversal
after a fake-out-breakout. We are
looking for the buyers to fail and give the sellers a chance to grab this price-action
and drag it back down into the range from Monday.
As price
rises I’m selling the resistance at 834.2 and then above this resistance I will
be looking for a possible fake-out-breakout followed by a price-reversal trade
short or if the buyers are too strong (reading tape) we will buy pullbacks above
the 34.2 with a profit-target above us at 841.8.
rises I’m selling the resistance at 834.2 and then above this resistance I will
be looking for a possible fake-out-breakout followed by a price-reversal trade
short or if the buyers are too strong (reading tape) we will buy pullbacks above
the 34.2 with a profit-target above us at 841.8.
Remember the
AB=CD Pattern symmetry resistance at 846.5 this will be a price magnet if the
buyers are truly in control, and we will use this as a runner profit-target if
we do see the new higher-highs above the 834.2
AB=CD Pattern symmetry resistance at 846.5 this will be a price magnet if the
buyers are truly in control, and we will use this as a runner profit-target if
we do see the new higher-highs above the 834.2
If price-action
drops off these new higher-highs we are selling short using a 2step pattern price-reversal
and taking profit-target at the PHOD 827.1 and then hopefully we can re-enter
short below the PHOD and take a final profit-target down at the PLOD 821.3
drops off these new higher-highs we are selling short using a 2step pattern price-reversal
and taking profit-target at the PHOD 827.1 and then hopefully we can re-enter
short below the PHOD and take a final profit-target down at the PLOD 821.3
