M2K1! trade ideas
RTY hit oversold overnightRTY went oversold, NQ went overbought so probably a counter rotation, lol.
RTY Daily Bullish ChannelThe RTY daily time frame is in an up channel.
The market is at a high price hitting the top
of the channel. According to the research, it will
be a good idea to stay out of the market and to
wait for the market to give a low price near a
known level of U-turn either at the bottom of
the channel or above the the channel. There is
an up Fibonacci extension above the live market
price point 2588.1 about +2,531 ticks away. As
of now, I am out of the market wishing to be
in.
RTY Touching OverboughtRTY touching overbought, but probably heads higher so it can get that triple top.
I can;t imagine retail breaking out, but if it does it;s just an opportunity to short earnings.
RTY, +1,000 Tick Bullish PushThe RTY Daily time frame is in an up channel. The
market is moving from the top of the channel
towards the bottom of the channel. As long as
the market stays above the bottom of the Channel.
I am expecting the market to U-turn bullish towards
the top of the channel price point 2356.3 about
+1,126 Ticks away.
It will be a good idea to turn to the one hour
time frame and to look for the market to
enter into the buy zone.
RTY MFI oversoldMFI oversold before Powell talks. Has not hit my target, but I'd be wary about holding a short position before the world's biggest pumper talks.
RTY pre-market with fibonacci.Fibonacci is primarily used to find support in this context so this graph is designed to give you more of a bullish perspective. Keep in mind the whole world thinks it is time for markets to tumble.
It is summer and we are talking about inflation a lot recently. I don't like it when markets get slashed. The only people who benefit are the ultra-rich. Markets always go back up eventually, and all that movement doesn't get taken advantage of by the average investor.
Most people don't care about that kind of thing because they are otherwise occupied with life events, but as a market watcher person, it's something I wish the average person cared about a little more. Kind of like going green: I don't really know what the effects are going to be if everyone reduces their carbon footprints, but I am pretty sure it would be a good thing. Whenever I think about this I always get led back to thinking education, regardless which discipline, is really the way to go. Hopefully all the money the .01%'ers absorb during the bear months will get back into the education system. That is what I will tell myself when I'm at my computer. That's not what the world will tell me when I go outside.
Why do I get myself all bummed out right before trading? I'm legitimately more tired now.
RTY [$IWM] | Rising Wedge PatternThe Russell is trading within a large rising wedge pattern. I will be watching the price reaction if/when price breaks the lower trendline. Current direction is unclear.
RTY OverboughtMFI dropping on all other indices but RTY went overbought? I think it backtests tomorrow.
Also, keep an eye on FDAX, it backtested the wedgie and it's dropping, see plot from last week.
RTY1! 13 JUNE 2021 2153 hrsTentative plan will be to see if that trendline has anything left for a push to that key resistance level.
Supply pressure look pretty light so it may only be a shallow pullback, will see.
Pretty uniform accumulation events off of that trend line. W's. You cam also see teh uniformity of teh RSI and how the re-accumulation events took place below the mean. That will be another pattern to look for. Wait for the rsi to at least touch the median line. This starts to give you space from any potential supply.
Tutorial | CFDs & Continuous Futures ContractsThis post is a follow-up to my 15-minutes of TradingView fame from a video I uploaded last week explaining how to get real-time futures data into TradingView for charting, analysis, and demo/paper trading. Thanks for all the comments and engagement (See Link to Related Ideas).
So here's a Part 2 of sorts covering CFDs, an alternative set of products and symbols that are pretty darn close in price to the CME futures prices for stock indices and commodities.
DM me if you'd like the Watchlists I highlight in the video.
RTY OverboughtES and YM oversold, RTY overbought. Meme stock short squeeze appears to be over and normally this would mean a rotation into safe stock.... but the market has been anything but normal lately, lol. Even right now ES and YM look weaker than RTY like they want to throw an exhaustion gap tomorrow.
No compelling shorty trades, looks like a melt up. The only thing I would consider shorting today is China.
RTY One hour, +200 Tick bullish pushRTY is about +200 ticks away from the daily limit. As long as the market stays in the buy zone market should push to the projected limit price. Once the daily Fibonacci extension price it hit. It will be a good idea to stop buying the RTY to see if the daily resistance level will push the market back down to the daily support.
RTY the only index that went overbought on the dailyThe only index that hit overbought is RTY.... oddly, IWM shows the same thing
Done for the weekend, I will not be posting Monday.
Good luck
Russel, down boy I love wedges for those who follow can't tell.
They are one of the few patterns left in this market that still work not coupled with anything else.
This has been trading sideways in a veil of volatility
FED speaks and the world listens.
Will this be cyclical, or is this across the board?
Let's see.
That's all folks
Elliott Wave View: Russell 2000 Aiming for All-Time HighShort term Elliott Wave view suggests rally from May 13, 2021 low is unfolding as a 5 waves impulse Elliott Wave structure. Up from May 13 low, wave ((i)) ended at 2245.1 and pullback in wave ((ii)) ended at 2152.35. The Index has started to rally again within wave ((iii)). Up from wave ((ii)) low, wave i ended at 2193.8 and dips in wave ii ended at 2170.20. Index then resumes higher in wave iii towards 2236.30 and pullback in wave iv ended at 2228.90. Final leg higher in wave v ended at 2250.2 which completes wave (i) in higher degree.
Pullback in wave (ii) ended at 2204.60. Index then extends higher in wave (iii) towards 2286.70 with internal subdivision of another 5 waves in lesser degree. Pullback in wave (iv) ended at 2256.50. Near term, expect a few more highs before the Index ends wave (v) and also wave ((iii)) in higher degree. From there, it should pullback in wave ((iv)) to correct cycle from May 19 low before the rally resumes. As far as May 19 pivot low at 2152.35 stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
