RTY MFI close to oversoldThis will definitely pop up once MFI goes oversold, still needs to fill the original COVID gap down.
RTY1! 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,
