RUT WYKCOFF SETUPWhen looking at Weekly chart of RUT index we can see a picture perfect Wyckoff setup, Have highlighted the probable target are based on price action, This is being support but the Macro fundamentals in regards to US economy
UUUSA Russell 2000 Index
2,251.41USDR
+3.83+0.17%
As of today at 07:03 GMT
USD
No trades
US2000 trade ideas
What is going on in the market..?All major indexes have reached new lows today and bounced back a little, Which shows sellers are strong..!
on the other hand
they bounce back a little and none of them even touched the middle of yesterday's candle, which shows buyers are not strong enough!
I think any trader in order to be successful should have a predefined plan for trading!
That plan must look like an algorithm code: a combination of 0,1, and, if, or..!
It means:
IF A, B, C... happened I will open the position!
But he should not forget to monitor his position!
So,
IF X, Y, Z, ... happened, I will close my position!
But,
What if A, B, C, .. do not happen for a while?
The answer is I will sit calmly and wait for the next opportunity..! In other words, A, B, C to happen!
One of the biggest trading mistakes is not defining a "No-Trade Zone"!
I think we are at the highest level of uncertainty in the market, in other words, "No Trade Zone".
One question:
Did you define your A, B, C,...X, Y, Z???
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA, an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
Russell 2000: In the triangle and bullish divergenceWe are in the middle on the never-ending triangle on the daily chart. There was a false breakout a couple of weeks ago but it seems bulls are strong enough to break out this triangle once and for all. For swing traders, sell with an adjusted stop loss and for long-term traders, buy if there is a correction to the lower part of the triangle (2155) or after the correction if there is a breakout (2287). The bullish signal on the RSI is there and it must be taken into consideration and the 2575 level should be reached if the triangle breakout takes place, but normally, after 1 year going sideways, the uptrend should be much longer.
A good place to start scaling for a bounceI think this is a good place to start scaling into the RTY longer-term or short-term potential bounce.
In 6 months we will be at a very different place.
With the proper position sizing you could start scaling in 5-10% of your planned investment in Russell if you don't have any position already.
Risk reward potential is greater that it one day will retest any of the levels above.
There are some nice trades that can be made with this.
RUT may go both ways but all signs point southBearish on RUT if daily / 4hr candles close below 2267.37
Bullish on RUT if daily/ 4hr candles close above 2274.53
H&S Confirmation retest, and reject at right shoulder
Candles touching 9EMA momentum slowed down, smaller candles
Look for a pull back between the 2171.41 to 2147.05 area still bullish. Anything below 2107.67 will be going to 2026.23
Gaps in grey maybe not be filled until the market pulls back and retests 2252.05 level
Respectfully,
RUT Russell 2000 Santa Rally?The Santa Rally is set to start on Monday, Dec. 27.
This period gave positive return for the S&P 500 78.9% of the time.
Since 1950, the average return of the Santa rally was 1.33%.
How do you think this will be reflected in the Russell2000 index?
The reasons could be optimism over the new year ahead or holiday spending.
RUT may be leading the way for indices RUT has currently had a strong rejection of a butterfly top and looks to make a possible break lower. This whipsawing of the long term range the RUT has traded in may be early signs the RUT is getting ready to break (Note, even in times this does make a break sometimes there's a final failed new high - shorts at this level can do well but it's worth stopping out and trying again higher if the bulls rip).
2100 is the most important support level ..!This is the most important week of the year for small caps!
If Russell 2000 closed below 2100 this week, this must be considered as a rectangular top in the weekly chart!
and we are less than 1% away from the 2100 level!
The Russell 2000 Index is a small-cap stock market index that makes up the smallest 2,000 stocks in the Russell 3000 Index.
The Russell 3000 Index is a capitalization-weighted stock market index that seeks to be a benchmark of the entire U.S stock market.
You can see the most important support (green lines) and resistance (red lines) to watch in the coming days in these charts!
Best,
Moshkelgosha
DISCLAIMER
I’m not a certified financial planner/advisor, a certified financial analyst, an economist, a CPA , an accountant, or a lawyer. I’m not a finance professional through formal education. The contents on this site are for informational purposes only and do not constitute financial, accounting, or legal advice. I can’t promise that the information shared on my posts is appropriate for you or anyone else. By using this site, you agree to hold me harmless from any ramifications, financial or otherwise, that occur to you as a result of acting on information found on this site.
