M2K1! trade ideas
Russell Back Test
I monitor to RSI of bunch indexes using TV alerts - last night RTY was under 25% - and now it just turned to 75% as I'm typing.
However this looks like a back test before we move lower, impressive ranges in the Russell - its moving as much as the /ES on daily basis.
Good dose of divergence at this point which is outlined in chart.
Naked VPOC at 1744 that needs visiting - that's 40+ lower.
RTY MFI way overboughtSmall caps tend to fill gaps and there's a lot of them below. Not shorting yet, but if you're so inclined, I'd go Dec puts.
RTY MFI went oversold overnightRTY MFI went oversold last night, obvious sector rotation as small caps are outperforming everything else.
R2K Short Russell 2000 has closed above Bollinger Bands for three consecutive days on the daily chart. The daily RSI is 74.63. There are, of course, fundamental reasons for the aggressive buying. But it needs to cool off. I am looking to short when the selling begins.
RTY Test 4+2 Using the moving average
+2 Buying power check
+1 High time frame (1H ~)
+1 Break Channel
Strategy Quality 6 / 10
RTY COVID Gap FilledI've been saying for a while that he original COVID gap on RTY needed to be filled, well it filled, lol.
Slept in because I was all cash, missed on on this hilarious spike. Note the MFI divergence, just another pump and dump.
RTY Long, after election uncertaintyRTY1!
RTY will soon be entering demand, from there longing it after the election fiasco seems to be an ideal bet. September low is still intact, as well as the index overall has printed a higher high since the previous August high.
RTY COVID Gap FillRemember that all futures gaps have to fill, and RTY still hasn't filled the original COVID gap. Needs one more pump either tomorrow or Monday....
rtystochastic would indicate this is not done, but you can already see that no matter how high this goes it will be daily divergent. the break down backtest has never filled against the trend line shown here. that would be the highest probability short, but price has been so weak it can never get there, so i cannot see another level yet. mid term, this break out will fail. the trend line under the price consolidation of march has now been exceeded, so the line is not located there.
RUSSEL (4H) Backtest : 68% win rate across 19 trades => 17.8 RDetailed backtest result : prnt.sc
Non-looser = 84%
Icons on the chart
Thumbs up : Trade was a win
Thumbs down : Trade was a loss
Circle with a cross : Trade was breakeven
Cross : Did not take the trade due to presence of liquidity (equal highs/lows) behind the stop loss
Variables
Avg winner = 1.6R
Strategy : wait for market structure break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to begin trapping the traders.
RTY dor long $$$Hi traders and investors , if the price breaks the parallel channel and the resistance with the volume we will see a great rise and if the price breaks the parallel channel down of couse the market will go down
Entry Strategies using Support & Resistance ZonesBrief video tutorial discussing entry strategies using support and resistance zones. How I produce support & Resistance zones can be learnt from the live stream recording HERE
With any trading indicator, it is vitally important to have a sensible entry strategy with entry, stop loss and enough risk to reward to the next support or resistance zone. It is also as important not to fudge your entry and stop to give a decent risk to reward. Frame your charts first with Support & resistance zone, put on your stop and your entry. Then the last thing to do is put on your risk to reward. I cover this in this video and show you how to use the Fibonacci extension tool to work out your risk to reward
RTY (Russell) (4H) : Liquidity run coming!Who wants to bet that RTY (Russel) is setting up for a liquidity run on those juicy equal highs?
If that's the case, this could be short term bullish but then bearish.
Elliott Wave View: Near Term Support for Russell 2000 Futures (RElliott Wave view in Russell (RTY) suggests the rally from September 24 low unfolded as an impulsive Elliott Wave structure. Up from September 24 low (1426.20), wave 1 ended at 1530.80 and wave 2 pullback ended at 1490.70. From there, Index rallied and ended wave 3 at 1617.70 and wave 4 ended at 1563.10. Last leg higher in wave 5 ended at 1651.70. The 5 waves rally ended wave (1) in higher degree.
Index is now in wave (2) pullback to correct cycle from September 24 low as a zigzag before the rally resumes. Down from wave (1) high at 1651.70, wave ((i)) ended at 1622.6 and wave ((ii)) bounce ended at 1647.1. Wave ((iii)) ended at 1597.30, wave ((iv)) ended at 1607 and wave ((v)) of A ended at 1595.50. Bounce in wave B has ended at 1648.40.
Index is now in wave C lower which subdivides as another 5 waves. Down from wave B at 1648.40, wave ((i)) ended at 1626.80, wave ((ii)) ended at 1648.40, wave ((iii)) ended at 1607.6 and wave ((iv)) ended at 1623.90. Expect another leg lower to end wave ((v)) of C of (2) towards 1557.5 – 1592.14 before Index resumes the rally higher or bounce in 3 waves at least.
