March 28th. 2011Looking at the TF daily chart we are at a important level. If the daily candle tunrs red and we close below 814.50 that would be a trigger for us to enter a swing trade short with the stop above Fridays high.
The stop would be about 15 points with the 1st target at 793.00 and the 2nd target at 733.00.
The trigger is if the daily chart Kill Zone turns to red. The patter entry is if it breaks the 814.5 low you are triggered into the trade.
Another way to play this is IWM puts or UWM puts with a stop above Fridays high.
Tomorrow we should have a big move up or down. If we do break the low of today in the morning I would be careful on any scalp or day trades to the long side.
Happy Trading,
www.eMiniSchool.com
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