September 25, 2012
- in Uncategorized by schooloftrade
Morning Mini-Russell Checklist:
Heat Map
Review:
Map tells us
the Mini-Russell is a moving market, and bullish at +0.6%
the Mini-Russell is a moving market, and bullish at +0.6%
Overnight
Highs & Lows:
Highs & Lows:
We created
new overnight lows and they held as support.
This initial clue was bullish, and the buyers made it all the way up to
the PHOD before failing at the PHOD. This
failure above the PHOD says the buyers are NOT going to see higher prices. Now we look short (bearish) with our profit-target
at the next support levels below at the swing-low of 850.5 and then the PLOD at
845.4 for a final profit-target.
new overnight lows and they held as support.
This initial clue was bullish, and the buyers made it all the way up to
the PHOD before failing at the PHOD. This
failure above the PHOD says the buyers are NOT going to see higher prices. Now we look short (bearish) with our profit-target
at the next support levels below at the swing-low of 850.5 and then the PLOD at
845.4 for a final profit-target.
Inside or
Outside Day?
Outside Day?
We have
failed above the PHOD so we are back INSIDE the range from Monday, and this is consider
an Inside day / outside day transition.
failed above the PHOD so we are back INSIDE the range from Monday, and this is consider
an Inside day / outside day transition.
Find the price-structures:
· Trigger-zone is support below us
· AB=CD Pattern is major resistance WAY
above us.
above us.
· Price-wedge is there, we need a short
term chart to see it more clearly.
term chart to see it more clearly.
· Price-channel is bullish and we are
at the highs of the price-channel on the 89range chart.
at the highs of the price-channel on the 89range chart.
· Trading Range from 857.1 (we will
sell) down to 842.2 (we will buy)
sell) down to 842.2 (we will buy)
· Double-top / Double-bottom (NO)
Wherewill a reversal be likely today?
If price
rises higher we look for price-reversal at the price-channel highs and/or the PHOD.
rises higher we look for price-reversal at the price-channel highs and/or the PHOD.
If price
falls lower we look for the price-reversal at the PLOD and/or the lows of the
trading range at 842.2
falls lower we look for the price-reversal at the PLOD and/or the lows of the
trading range at 842.2
What is
our trading plan for today?
our trading plan for today?
Our plan is to trade short with new lower-lows below the LOD after
seeing the buyers fail above the PHOD.
We have a final target at the PLOD for our short selling.
seeing the buyers fail above the PHOD.
We have a final target at the PLOD for our short selling.
If the sellers lose control and price rises higher we will
avoid the middle of the range, but look for wave-pattern-long to enter with a
target at the PHOD.
avoid the middle of the range, but look for wave-pattern-long to enter with a
target at the PHOD.
