June 13, 2013
- in Uncategorized by schooloftrade
Mini-Russell day trading strategy
 |
| Mini Russell 60-minute chart |
The Mini-Russell
shows us a big bounce off the lows of the bear price-channel and the double-top
price-reversal level at 963.5. In
addition to this technical support we also have a BULLISH Dollar-Index after
the news this morning gave confidence to the buyers of the Dollar-Index. The Mini-Russell is rising higher this
morning and we are buying pullbacks on the way up to the resistance and profit-target
at 977.0 and 985.9. Once we get up to
these resistance levels we will look for a price-reversal and a short-selling
opportunity as the bear price-channel is our biggest clue. We also need to remember that the market
personality may continue to be bullish this morning after this news came out so
keep that in mind, we have to wait for the price-reversal to get short, or just
keep buying with those pullbacks.
shows us a big bounce off the lows of the bear price-channel and the double-top
price-reversal level at 963.5. In
addition to this technical support we also have a BULLISH Dollar-Index after
the news this morning gave confidence to the buyers of the Dollar-Index. The Mini-Russell is rising higher this
morning and we are buying pullbacks on the way up to the resistance and profit-target
at 977.0 and 985.9. Once we get up to
these resistance levels we will look for a price-reversal and a short-selling
opportunity as the bear price-channel is our biggest clue. We also need to remember that the market
personality may continue to be bullish this morning after this news came out so
keep that in mind, we have to wait for the price-reversal to get short, or just
keep buying with those pullbacks.
