M2K1! trade ideas
RTY Short at SupplyRTY experienced an explosive move down from a pivot level which historically has been a favorite pivot point, once being Supply, then becoming demand, etc... Looks like we are currently in Supply mode.
Take the Short at supply if price has the strength to retrace
Expect 3:1 profit and if possible trail it from supply level to supply level as long as we can
Higher timeframe is in a downtrend and RSI weakening at each pivot high encouraging continued weakness and permission to take the short.
RTY1!Huge move in the Russell last couple weeks. Above 1600 and long, but wouldn't be surprises to see a cool off here before a move up to 1700.
RTY Update 10/9Well, I was all cash and overslept, lol. I'm on the west coast, not waking up at 6am when I'm all cash.
I warned everyone last night about "stimulus" news, everything overbought but still rallying. If they agree to a deal over the weekend, we get a huge gap up on Monday, despite all indicators. All other world indices were slightly red, which I expected and I wasn't going to bet against my indicators, so I stayed out.
RTY MFI did drop, and it will pop again when MFI gets oversold, so look for another pop next week on stimulus to close the COVID gap. YM (Dow) dropped when it closed the gap, expect the same here.
Wish I had bout FTNT or DLTR calls, both were on my radar. Oh well.
Also, don;t short on Friday afternoons, market always seems to rally. I think all cash and fade the gap when stimulus news is announced.
RTY (Russell) (4H) Backtest : Break of market structureWinners = 8
Losers = 3
Breakevens = 2
Total Trades = 13
% Non Losers = 77%
% Winners = 62%
% Breakevens = 15%
% Losers = 23%
Win/Loss = 267%
Net R = 9.8
Avg R/Winner = 1.23
Avg R/trade = 0.75
Bad trades prevented due to presence of liquidity near SL= 26
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 behind the stop loss
Variables
Avg winner = 1.6R
Strategy : wait for market structure break, then trade the retest of that zone (against the trapped traders).
RTY OverboughtSmall Cap Madness, lol.
I think it needs a pullback, but maybe they just take it straight to the COVID gap. Note, every other index has closed the original Feb COVID gap,
IWMRussell aint messing around. Basically 12% in a straight line (No position). Potential to see some resistance as it approaches top of range.
RTY Russell 2000 futures - Elliott wave analysis - sell set upWelcome guys,
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RTY Russell 2000 futures - From last bottom as shown in chart of 30 min time frame, it is within ABC zigzag where 5th of C wave is in progress, In 5 min time frame it is in 3rd of 5th wave, which will end soon today. Wait for price to broke down the low of 4th of C wave as a confirmatory sign of reversal move, then sell in bounce with stops above last high. The 4th wave low is 1570. Thereafter bigger down side correction expected.
Give thumbs up if you really like the trade idea.
RTY OverboughtStay away from small caps.... overbought.
I think it might get a small gap up tomorrow based on previous rally (overlay), but definitely not worth chasing. Very close to resistance zone anyways.
Russell's Temporary Breakout 10/4/2020RTY at the daily view.
The RTY finally broke out of its short-term resistance (blue line). However, it's still in a giant sideways to slight downward channel. Furthermore, RTY has been in a general box between 1400 to 1600 for years. The reason for its sub-1400 days was due to unusual bear market events. The reason why it was above the 1600s before is because TSLA was once part of the Russell 1000 - now part of the NASDAQ.
Russell is actually one of my favorite indices to trade because of its predictability. Now, we are see tech going down and small caps going up. That kind of reeks of institutional movements - much like what happened in July.
Not much to say. Russell is literally one of the few indices or sectors that I short when it reaches around 1600 - might be a little lower this time. I plan to long when it reaches the mid-1400s. It's been in predictable trading box which is why I really like it.
