July 30, 2013
- in Uncategorized by schooloftrade
Mini-Russell day trading strategy
Mini-Russell 240-minute:
 |
| Mini-Russell 240-Minute |
It looks
like the Mini-Russell is just about to change to a bearish trend on the 4-hour
anchor chart. We can see the major symmetry
pattern completed at the 1052.0 area and now the price-action is trying to move
lower off these highs. We must remember
that these are ALL-TIME HIGHS for the Mini-Russell (and all the other e-mini’s
too) so at any moment this price-action can tumble fast off these highs if
traders decide they want to take profit now before it collapses.
like the Mini-Russell is just about to change to a bearish trend on the 4-hour
anchor chart. We can see the major symmetry
pattern completed at the 1052.0 area and now the price-action is trying to move
lower off these highs. We must remember
that these are ALL-TIME HIGHS for the Mini-Russell (and all the other e-mini’s
too) so at any moment this price-action can tumble fast off these highs if
traders decide they want to take profit now before it collapses.
Mini-Russell 60-minute:
 |
| Mini-Russell 60-minute |
The hourly
anchor chart is VERY concerning this morning with recent higher-highs AND lower-lows
and a very difficult-to-define market personality. It appears the sellers are still in control,
but the price-wedge and the trend-lines are going to move likely make it
difficult for the sellers to move this price-action outside of this range below
the 1036.0.
anchor chart is VERY concerning this morning with recent higher-highs AND lower-lows
and a very difficult-to-define market personality. It appears the sellers are still in control,
but the price-wedge and the trend-lines are going to move likely make it
difficult for the sellers to move this price-action outside of this range below
the 1036.0.
Another big
clue on the 60-minute is the location of the thick white line we call the
BTM. The big-money-trigger-line is where
we can expect price-action to consolidate, so we know that trading
opportunities around the 1041.0 area will be higher-risk.
clue on the 60-minute is the location of the thick white line we call the
BTM. The big-money-trigger-line is where
we can expect price-action to consolidate, so we know that trading
opportunities around the 1041.0 area will be higher-risk.
Mini-Russell 5-Minute:
 |
| Mini-Russell 5-Minute |
We can see three
clues on the Mini-Russell that will help define our day trading plan for this
morning.
clues on the Mini-Russell that will help define our day trading plan for this
morning.
First, we
can see the price-action is trading inside the range from Monday, which tells
us that we are in balance with the buyers and sellers. We know that inside ANY trading-range we will
seek to buy-the-lows at support and sell-the-high at resistance.
can see the price-action is trading inside the range from Monday, which tells
us that we are in balance with the buyers and sellers. We know that inside ANY trading-range we will
seek to buy-the-lows at support and sell-the-high at resistance.
Second, we
can see this very narrow price-wedge that has been drawn with trend-lines above
and below. This price-wedge will make it
hard for a successful breakout, and reminds us to keep an eye out for the fake-out-breakout. We also remind our students that we use the
#2 trigger-zone when trading inside a price-wedge.
can see this very narrow price-wedge that has been drawn with trend-lines above
and below. This price-wedge will make it
hard for a successful breakout, and reminds us to keep an eye out for the fake-out-breakout. We also remind our students that we use the
#2 trigger-zone when trading inside a price-wedge.
Third, we
see the overnight, London trading Session has been broken to the UP-SIDE, and
this is the first time it was broken, which tells us the long-term trend today
is most likely to be bullish.
see the overnight, London trading Session has been broken to the UP-SIDE, and
this is the first time it was broken, which tells us the long-term trend today
is most likely to be bullish.
