August 7, 2012
- in Uncategorized by schooloftrade
Morning E-Mini-Russell Checklist:
Heat
Map: What is it telling us?
Map: What is it telling us?
Heat map
says bullish, over 1.0% on the up-side.
says bullish, over 1.0% on the up-side.
OHLC
Analysis:
Analysis:
We have 4 higher-highs
so we look very bullish. However, look
at the 4am EST swing-high at 799.3 which was followed by another attempt to
make new higher-highs that quickly failed.
so we look very bullish. However, look
at the 4am EST swing-high at 799.3 which was followed by another attempt to
make new higher-highs that quickly failed.
You can see the swing-high and the BIG WICK to the following candlestick
that tells us these buyers FAILED once before.
Will they try again? If they fail
again we know to get short, but if they push a new higher-highs we know we need
to look for the wave-pattern-long.
that tells us these buyers FAILED once before.
Will they try again? If they fail
again we know to get short, but if they push a new higher-highs we know we need
to look for the wave-pattern-long.
Are we
inside or outside day today?
inside or outside day today?
Above the PHOD
we are outside day today. This is
another bullish clue, at the same time if we fail above the PHOD we can sell
short below the PHOD.
we are outside day today. This is
another bullish clue, at the same time if we fail above the PHOD we can sell
short below the PHOD.
What
price-structures do we see?
price-structures do we see?
· Trigger-zone is support below us
today.
today.
· AB=CD Pattern was recently tested
around the ‘C’ point. If we stay above
the ‘C’ this bullish AB=CD Pattern is violated and price will rise to the ‘A’
around the ‘C’ point. If we stay above
the ‘C’ this bullish AB=CD Pattern is violated and price will rise to the ‘A’
· Price wedge is there in blue triangle.
· Trading Range is defined with the red
rectangle, sell highs and buy lows.
rectangle, sell highs and buy lows.
Where
will a price reversal be likely today?
will a price reversal be likely today?
If price
moves higher it will be around 807.6 resistance, and if price moves lower it
will occur quickly below the PHOD.
moves higher it will be around 807.6 resistance, and if price moves lower it
will occur quickly below the PHOD.
What is
our trading plan for today?
our trading plan for today?
All signs
point to rising prices as of NOW. We are
going to watch the next attempt to push new higher-highs and if it’s successful
we will use the wave-pattern-long to buy with profit target up at the resistance
of 807.6.
point to rising prices as of NOW. We are
going to watch the next attempt to push new higher-highs and if it’s successful
we will use the wave-pattern-long to buy with profit target up at the resistance
of 807.6.
If the
buyers aren’t strong at these highs we want to sell the failure above the PHOD. Looking for a wave-pattern to fail or a 2-Step
short pattern to get us into the price-reversal. As price falls lower we want to sell below PHOD,
below the PLOD, and sell the highs of the price wedge below us around 785.0
buyers aren’t strong at these highs we want to sell the failure above the PHOD. Looking for a wave-pattern to fail or a 2-Step
short pattern to get us into the price-reversal. As price falls lower we want to sell below PHOD,
below the PLOD, and sell the highs of the price wedge below us around 785.0
