Mini-Russell Day Trading Strategy using price channel and double-bottom

The mini-russell is one of our favorite markets to trade because of its great volatility and low margins for new day traders.  Our trading strategy uses the bull price channel, the previous day’s trading range, and a double-bottom on the 21-range chart to plan our day ahead.

We know we’re at the highs of the bull channel so this really makes us concerned about buying at these highs.  Our day trading strategy for a price channel says to sell the hig of the channel, so beware of buying at the channel highs, we want to wait for the buyers to fail and then using a price reversal pattern enter to the short side.

Mini Russell Day Trading Strategy

We use the 34-range chart to give us more specific clues for our day trading strategy.  this shows us the previous day’s trading range and helps us define where the best locations will be.

We use the final 21-range chart on the mini-russell to confirm our exact locations we want to trade today.  We need to sell as price rises, lookign for the buyers to fail and giving us a chance to take the higher percentage trades by selling the channel highs.  We knof 815.0 overhead so price may definately try to test it.  We will sell below the PHOD as the buyers will have failed at that point.  If price keeps moving lower we will then buy the channel lows 808.0 area, and then look to buy again at support below the channel lows if price keeps dropping.  Once we get below 806.0 we then consider to start selling as the bull channel is broken and the Buyers have failed above PHOD.  Look for 800.00 big round number as a target for your short trades, and then if price moves lower we enter short with new lower lows with retets all the way down to 795.0  major price channel lows



Day trading strategy for Mini-Russell