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IWM trade ideas

Russell 2000 to Fall on the Window Technicals: (1) Looking for the Russell 2000 to Fall on the Window or "fill the gap" (which I do not believe is necessary for a financial instrument to do). A window is just potential support that does not need to be filled. (2) "golden ratio @ 222.48. to 222.23 (BUY WATCH area) (3) Pennant/Triangle-looking pattern on a pole suggests that the bullish trend continues. Comment: keep in mind that patterns can break. Any new data point or cataclysmic event can blow this entire pattern away and distort what financial markets are attempting to achieve. If some dire event occurs that effects the price chart; then, there is support far away at 180.
AMEX:IWMLong
by Rocketman
$IWM - getting close!IWM has been in consolidation since the beginning of the year creating a beautiful flag. The longer a stock or index is in a specific range, the stronger the move can be to the upside. There have been many people talking about how the SPY, QQQ, and DIA have all broken out to new ATH but the IWM has lagged. There are many reasons for this including seasonality. Small/mid cap season is typically November through March. The other speculation is that if the IWM does not break out, it means were heading for a recession. Remember markets do not enter a recession just because. There is usually an unforeseen event that drives fear into the markets and causes a sell off. If this breaks through $232-234 range and into new ATHs, the measured move is close to $300 on the IWM. I will be very pleased with this trade if it "only" reaches $280. Easy and safe play here would be to buy around $233-234 with a $230 stop. You can drop that further if your risk tolerance is higher. $275 would be a good place since there could easily be a retest of the $232 breakout and I could see it reaching $230 to wipe out stops before resuming higher. 1-3% downside risk with 20% (roughly) upside potential over next few months. Good luck and as always this is not a recommendation to buy or sell. It is intended for information purposes only.
AMEX:IWM
by UnknownUnicorn16739272
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