September 27, 2012
- in Uncategorized by schooloftrade
Morning Mini-Russell Checklist:
Heat Map
Review:
Mini-Russell
is a moving market, moving higher at +0.6%
is a moving market, moving higher at +0.6%
Overnight
Highs & Lows:
Highs & Lows:
We consider
this market personality to be range-bound however the recent bearish move has
questioned the range we’re in. if we see new lower-lows below the overnight
lows we will sell short down to the PLOD.
If the sellers fail to STAY below the overnight lows we will buy the 832.5
lows from the London session to confirm this is a range-bound market.
this market personality to be range-bound however the recent bearish move has
questioned the range we’re in. if we see new lower-lows below the overnight
lows we will sell short down to the PLOD.
If the sellers fail to STAY below the overnight lows we will buy the 832.5
lows from the London session to confirm this is a range-bound market.
Inside or
Outside Day?
Outside Day?
We are
inside the range from Wednesday, however, the PLOD is right below us, and if we
break below the PLOD we are bearish and will look to sell short. Also, if the price cannot break new lower-lows
below the PLOD and the price comes back ABOVE the PLOD we will then consider
the sellers have failed, lower prices have been rejected, and we will be a
buyer above the PLOD.
inside the range from Wednesday, however, the PLOD is right below us, and if we
break below the PLOD we are bearish and will look to sell short. Also, if the price cannot break new lower-lows
below the PLOD and the price comes back ABOVE the PLOD we will then consider
the sellers have failed, lower prices have been rejected, and we will be a
buyer above the PLOD.
Find the price-structures: · Trigger-zone is support below us
starting at 831.0 and the lows of the range at 823.0
starting at 831.0 and the lows of the range at 823.0
· AB=CD Pattern is bearish and uses the
entire 89-range chart, level at 920.0.
entire 89-range chart, level at 920.0.
· Price-wedge is not here yet. If we rise off this swing-low we may be able
to draw trend line from the 800.0 trend line up to this recent swing-low.
to draw trend line from the 800.0 trend line up to this recent swing-low.
· Price-channel is bullish and we are
coming off the highs.
coming off the highs.
· Zigzag requires a bullish AB=CD
Pattern and we do not have that.
Pattern and we do not have that.
· Sideways / Trading Ranges (No)
· Double-top / Double-bottom (NO)
Where
will a reversal be likely today?
will a reversal be likely today?
The price-reversal
is likely this morning at the HOD and PHOD if price rises and at the lows and PLOD
if price falls. We have a range-bound
market so we will buy-the-lows at support and sell-the-high at resistance.
is likely this morning at the HOD and PHOD if price rises and at the lows and PLOD
if price falls. We have a range-bound
market so we will buy-the-lows at support and sell-the-high at resistance.
What is
our trading plan for today?
our trading plan for today?
We will buy-the-lows at support and sell-the-high at
resistance with this range-bound market.
If price rises higher we will sell the HOD and if price moves lower we
will buy the PLOD and LOD.
resistance with this range-bound market.
If price rises higher we will sell the HOD and if price moves lower we
will buy the PLOD and LOD.
