October 5, 2012
- in Uncategorized by schooloftrade
Morning Mini-Russell Checklist:
Heat Map
Review:
Mini-Russell
is bullish and a moving market
is bullish and a moving market
Overnight
Highs & Lows:
Highs & Lows:
We saw new
lows overnight that were never re-tested, and then we break above the PHOD with
a strong bullish candle and that confirms this bullish market sentiment.
lows overnight that were never re-tested, and then we break above the PHOD with
a strong bullish candle and that confirms this bullish market sentiment.
Inside or
Outside Day?
Outside Day?
We are
outside day, above the PHOD, this is a bullish clue until we fail at the new higher-highs
and get back below the PHOD. We will
look to sell below the PHOD if that occurs.
outside day, above the PHOD, this is a bullish clue until we fail at the new higher-highs
and get back below the PHOD. We will
look to sell below the PHOD if that occurs.
Find the price-structures: · Trigger-zone is resistance at 846.5
and support is major below us 831.0
and support is major below us 831.0
· AB=CD Pattern is bearish
· Price-wedge is not on this chart
· Price-channel is bullish and
considered MAJOR
considered MAJOR
· Zigzag pattern is NOT on this chart
· Sideways Trading Range from 845 down
to 828.0
to 828.0
· Double-top / Double-bottom not on
this 89range chart
this 89range chart
Where
will a reversal be likely today?
will a reversal be likely today?
A price-reversal
will be likely around the price-channel highs and trigger-zone resistance (where
we are NOW). If price drops to the lows
of the bull price-channel and the 831.0 trigger-zone support then we can buy
these lows with a price-reversal.
will be likely around the price-channel highs and trigger-zone resistance (where
we are NOW). If price drops to the lows
of the bull price-channel and the 831.0 trigger-zone support then we can buy
these lows with a price-reversal.
What is
our trading plan for today?
our trading plan for today?
Our plan is to try and sell the highs of this price-channel first,
and then with strong buyers and new higher-highs above the trigger-zone we can
then look to start buying. It’s too risky trying to buy into the resistance of
the price-channel and trigger-zone.
and then with strong buyers and new higher-highs above the trigger-zone we can
then look to start buying. It’s too risky trying to buy into the resistance of
the price-channel and trigger-zone.
If price falls off these highs we will look at this as a fake-out-breakout
and sell short with profit-target at the PHOD, and then look to sell more below
the PHOD down to the price-channel lows and the PLOD.
and sell short with profit-target at the PHOD, and then look to sell more below
the PHOD down to the price-channel lows and the PLOD.
