October 19, 2012
- in Uncategorized by schooloftrade
Morning Mini-Russell Checklist:
Heat Map
Review:
-0.6% so the
market personality is a moving one today.
market personality is a moving one today.
Overnight
Highs & Lows:
Highs & Lows:
We saw lower-lows
and lower-highs overnight, however, we see a possible price-reversal candlestick
on the 30-minute.
and lower-highs overnight, however, we see a possible price-reversal candlestick
on the 30-minute.
Inside or
Outside Day?
Outside Day?
Outside day
below PLOD.
below PLOD.
Find the price-structures:
· Trigger-zone is support and we are
trading directly on top of it.
trading directly on top of it.
· AB=CD Pattern is bullish with support
at 815.0
at 815.0
· Price-wedge is bearish
· Price-channel bearish
· Zigzag Pattern not on the 89range
· Sideways Trading Range 841.7 DOWN TO 815.8
· Double-top / Double-bottom not on
this chart.
this chart.
Wherewill a price-reversal be likely today?
We are
sitting inside a trigger-zone support level, so a price-reversal is expected
here. If price rises higher we will get
the price-reversal at the bear price-channel highs. If price falls lower we will have to wait and
see.
sitting inside a trigger-zone support level, so a price-reversal is expected
here. If price rises higher we will get
the price-reversal at the bear price-channel highs. If price falls lower we will have to wait and
see.
What is
our trading plan for today?
our trading plan for today?
We are below the PLOD so we are bearish, and the 30-minute
chart shows us a possible price-reversal so we are expecting 2 scenarios. If the sellers keep control we will sell with
wave-pattern-short
chart shows us a possible price-reversal so we are expecting 2 scenarios. If the sellers keep control we will sell with
wave-pattern-short
If the buyers grab control we will buy above the PLOD as the
sellers have failed.
sellers have failed.
