December 12, 2012
- in Uncategorized by schooloftrade
Mini-Russell day trading plan
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| Mini-Russell day trading plan |
We can see
the Mini-Russell has been moving to new higher-highs this morning, and its
sitting on top of the range from Tuesday.
We know the PHOD and PLOD are ‘electric levels’ and as we call them ‘turning
points’ in the market. This means that
if price-action moves higher we are bullish, and if price-action moves lower we
are bearish.
the Mini-Russell has been moving to new higher-highs this morning, and its
sitting on top of the range from Tuesday.
We know the PHOD and PLOD are ‘electric levels’ and as we call them ‘turning
points’ in the market. This means that
if price-action moves higher we are bullish, and if price-action moves lower we
are bearish.
We can see
three (3) easy clues on this 89-range anchor chart this morning. First we have the inside-day / outside-day transitional
area around the PHOD. Second we have the
bearish AB=CD Pattern, and third is the trigger-zone support down below at
826.0 just above the PLOD.
three (3) easy clues on this 89-range anchor chart this morning. First we have the inside-day / outside-day transitional
area around the PHOD. Second we have the
bearish AB=CD Pattern, and third is the trigger-zone support down below at
826.0 just above the PLOD.
If price moves
higher I’m buying pullbacks with the wave-pattern-long above the PHOD assuming the
buyers see more value in higher prices. We
look for a profit-target at the 841.8 and a runner at 846.5 to complete the AB=CD
Pattern. Once we test the AB=CD Pattern resistance
at 846.5 we then expect a price-reversal and we are looking to sell short.
higher I’m buying pullbacks with the wave-pattern-long above the PHOD assuming the
buyers see more value in higher prices. We
look for a profit-target at the 841.8 and a runner at 846.5 to complete the AB=CD
Pattern. Once we test the AB=CD Pattern resistance
at 846.5 we then expect a price-reversal and we are looking to sell short.
If price-action
moves lower we know that the buyers tried to push above the PHOD, looking for
higher prices, and they now will have FAILED.
We want to sell short on Mini-Russell below the PHOD and will use a wave-pattern-short
or a 2step pattern short to get involved.
Take a profit-target at the 826.5 trigger-zone and then a runner at the PLOD
824.2
moves lower we know that the buyers tried to push above the PHOD, looking for
higher prices, and they now will have FAILED.
We want to sell short on Mini-Russell below the PHOD and will use a wave-pattern-short
or a 2step pattern short to get involved.
Take a profit-target at the 826.5 trigger-zone and then a runner at the PLOD
824.2
