February 15, 2012
- in Uncategorized by schooloftrade
Mini-Russell day trading strategy
The mighty mini-russell is trading at the top of the major
bull price channel and we have AB=CD major resistance at 832.0 and not much has
changed from the past week at these highs.
We keep trading sideways, seeing new short term wedges and we want to
buy the lows and sell the highs of these short term range.
bull price channel and we have AB=CD major resistance at 832.0 and not much has
changed from the past week at these highs.
We keep trading sideways, seeing new short term wedges and we want to
buy the lows and sell the highs of these short term range.
If price falls we want to sell below PLOD however we have trigger-zone
support below us so make sure you arent selling into this key support starting
at the 808.0 level.
support below us so make sure you arent selling into this key support starting
at the 808.0 level.
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| Russell Day trading strategy |
The 55 range chart further-refines our day trading strategy we
can see the short term bull price channel and the short term price wedge, inside
day, and a double-top which gives us additional support below the PLOD which
will make it hard to sell confidently below the range from yesterday.
can see the short term bull price channel and the short term price wedge, inside
day, and a double-top which gives us additional support below the PLOD which
will make it hard to sell confidently below the range from yesterday.
As price
falls I’m buying the price wedge lows, and the PLOD as support and if price
breaks below the PLOD we have a very small window to get short before we run
into major support at 810.00 from the double-top. Buy the price channel lows and the trigger-zone
support 808.5-802.5 and then if the sellers are too strong sell retracements below
802.5 using the 800.00 big round number as a magnet.
