Nice setupCan go either way from here. No preference on which way, either market will rotate back into IWM and push higher or IWM will cool off with market. Either way there is a trade, just follow it.
RTY1! trade ideas
NQ TargetNAZ, DJIA and SP500 are at all time highs, may need to test lower levels in order to go higher. Russell may be the key, needs to get going. NQ may retest 13550. Russell appears to be targeting 2180. Again with NAZ, much action in overnight and not much follow through in Open, only in final 30 minutes of past 4 days. Watch for weak close and expected negative follow through in overnight. For now the direction is UP.
M2K SHORT ON NEXT WEEK
Update: reverse c&h formation spotted and/or h&s formation to be completed soon. SELL 2239-2245 SHORT TP1:2224 TP2:2210: TP3:2192 TP4: 2180.
Russell 2000 M2K Futures June 21 ContractForeseen dip is around 2221s imo. Midrange is at 2230s. If we reclaim above 2230s it will go test upper range at 2250s
RTy Tight stop long off 2222 (lightning pattern/ABCD)See chart for lightning pattern long off 2222, june RTY
ABC corrective wave in russel 2000Due to the detection of 5 waves in wave A, the formation of a zigzag correction pattern is more probable. In that case, if the downward trend continues from the Fibonacci 62% point and breaks the Perm pattern, we will expect a fall by around 2050. And of course other scenarios will be possible
Russel Mark-up.I think it is short in the near future, but long overall. I saw a similar thing happen last week Sunday. Rally hard to close week, big selloff to start new week, then a full week of rallying. I don't see anything that's changed.
Long term I think Russel is looking bullish. I feel like it's a little extended at the moment, so I think we should expect some correction. Retail traders, I don't know where you could possibly get in as a buy unless price goes way down from current locality. .382 saw a lot of activity. Maybe price will revisit, but bullishness is the attitude currently. Short sellers, I see some big juicy demand zones, but understand you are selling against the dominant momentum.
If we want to play the return to the closer trendline it's almost a 30 point drop down. Also, Russel is currently resting in a divergent/oversold state. Very tempting.
My risk manager is keeping me out of placing any orders, but I am trying to get in the habit of marking up charts over the weekend and seeing how the prophecies unfold.
If I were persuaded to go short I'd put my stop above the high wick. Realistically, I would have to see how the markets open and then play it from there.
I hate to miss out on a market opening rally. That is my biggest source of FOMO.
I did not like making this.
RTY MFI OverboughtCrazy that the market is rallying when Biden wants to increase corporate taxes, really doesn;t make sense so staying out.
MFI overbought
RTY MFI oversoldMFI is oversold but it can stay that way for a day or two like last time. RSI is not there yet.
I would find something else to short though
Week 13 SHORT Russel, Cocoa, BondsSHORT Russel, Cocoa, Bonds because all are below 30 VWMA on the daily chart and all 3 had an entry at the highest POC on the 1 hour chart on monday.
Looking forward to hold 1/2 of the position till there is a new low on the daily and 1/2 of the position on a trailing stop above prior days high.
RTY Update - Small Cap SellofThe selloff continues.... overlay says afternoon rally and/or gap up tomorrow, but I wouldn't go long until both MFI and RSI get oversold. I think it'll be a bull trap.
RTY OversoldMFI moving up....
You figure small caps are due for a bounce, closed out all my puts, all cash.
Not feeling bullish though. Maybe if we get one more tank, lol, then I have to go long.
RTY UpdateSo much for indicators and overlays, looks like they turned off the buy algos.
No guesses anymore, lol. RSI oversold again, MFI is not.
Russell 2000 Oversold: Look for dip buying tomorrowRTY has hit a key fib band level from which previous rebounds have occurred. The RSI is also at a level from which recent previous rebounds have occurred.
If ES holds 3880 in the Globex, I’m going long.
There's always the danger of a vertical drop given how full of trash (GME, AMC, PLUG, various SPACs) this index has become.
RT_Y Posted this abcd short privately (ran out of ideas to share) , i added it onto chart here for reference, we have 4 hr abcd w engulfing candle and inside bar for a low risk long, but it is right into supply, (clears this bullish) ultimately we see a larger abcd form for a 618 % touch fro long there (in my opinion)
RTY UpdateWent oversold as overlay predicted, similar shape.
Expect a bounce here, may not go as big as last time.
There is no Safe place Anymore..! Winter is coming...All the major indexes show bearish signs!!!
no matter what you are looking at NASDAQ, S&P 500, Dow Jones, Russell 200,3000..!
Russell futures> potential short and long scenarios.This is my set up, for Russell
Obviously a short entry has a better risk reward with 3 potential targets. But I don’t get to pick direction. My bias however is long due to the down wedge and strong supply. Price tends to attracted to strong demand or supply zones.
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Bat Pattern Last looked really bad as i was trying to set a limit order same time, cleaned it up higher timeframe
