RTY1! (Russel) : 2 areas of potential bullish reactionPrice could dip into discount, mitigate some 4H zones and then go higher.
Wait for confirmations before going long. GLGT.
MMMicro E-mini Russell 2000 Index Futures
2,137.7USDD
+12.7+0.60%
As of today at 23:10 GMT
USD
No trades
M2K1! trade ideas
RTY rolled overRTY selling off because it hit my target (lol) and was overbought on both RSI and MFI.
ES and NQ are not overbought, looks like sector rotation back. So much rotation I'm getting dizzy.
Note: All foreign markets except China rallied last night, no short positions over the weekend. In fact, I'm all cash.
Keep in mind foreign markets trade on Monday. Gap direction for Tuesday is impossible to tell, but I'm bullish for now.
RTY. How it compares at the moment.Here is my math:
3/4 are wrapping upper trendline = buyers are coming out.
1/4 (RTY) isn't testing upper trendline, but did not create new swing low.
Add it together, and I think there is a bullish case for the afternoon.
I really want to go long on all four, but I have a history of freestyling more than absolutely necessary, and the MA's (which are meant to help me) are still down. For the sake of long term growth I think I have to resign to an observatory role. Maybe I'll check back in for the afternoon session and see how we close.
This would be one of those times I take all the trades on my sim account and turn over a couple grand. I really hate to do that. It gives me a big head with nothing to show for it, but I think that's my safest and best positive action at the moment.
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In the end this is just a big bet that the markets are going to buy back what they sold off this morning. I have a tendency to think I can predict the future through these stories I tell myself. And, I know that's not the proven path. They did sell pretty stinking hard meaning there is now a lot to be made on the way back up.
My following thoughts are... It's only Tuesday, meaning this could go on all week... followed by... If I bought now without a stop loss, or a super low stop loss, and held on tight, I could probably capture at least 100-200 points on the NQ. probably more.
RTY, +1,000 Tick bullish pushRTY daily time frame is in an up channel. The market hit the bottom of the channel and is showing signs of pushing toward the top of the channel. The market is starting to make an up Fibonacci with an extension about a +1,000 ticks above the market price. Turning to the one hour time frame and looking for low prices in the buy zone will be a good idea as long as the market stays above the bottom of the daily up channel.
Broadening descending patterns on Russel. Makes me think Gann.It looks like it might have found the bottom already to me. The downward sloping upper trendline on the top looks like it could be trouble, but in the meantime I think it will trickle upward.
I have listed as 'neutral' because one of my two paths has Russel collecting at a lower level.
+2,000 Tick push on Russell 2000RTY One hour time frame is in a large up channel. The market hit the bottom of the channel and hit the daily down Fibonacci Extension. If the buyers are to take control. Now is a great time. Looking for the market to break and close in the buy zone off the one hour time frame will be a great idea to receive confirmation the buyers are taking control.
RTY: E-Mini RussellAt the close of last week, we saw a bounce in major indexes. After creating a downward channel, the price broke out on the Russell 60 min chart. We can now predict the next movement.
Targets:
2288
2315
Thank you and Good Luck!
🛑Disclaimer🛑
The content of this analysis is subject to change at any time without notice. Trading leveraged products carry a high level of risk and may result in you losing substantially more than your initial investment. This is not financial advice.
Ascending Triangle BreakoutTodays drop, as expected is to the bottom support line of the ascending triangle that has been building up. I think this is a great time to get in early on the breakout. If not you could go with the flow, and wait for the market to top the resistance on high volume and break through the highs. I see a big market move coming later this month or early next month. I advice investers set their buy limit orders right above the previous highs.
