After a massive up day yesterday, one expects rotational price action the day after. Except for NQ, the three other indices gapped down with RTY being the weakest. I initially wanted to buy the dip at 1621.80 but price didn’t reach the entry. Entered short 2@1633.7 on the bounce up… Read more“Consolidation Day”
Tag: RTY
Small Gain
After a big up day yesterday, I expected more rotational action today. Shorted 2 YM@28164 where there were three levels of resistance, one of them being the 1.272 extension from the previous swing low. Many times when price reaches the 1.272 or 1.618 extension, it signals a potential reversal. Exited… Read more“Small Gain”
Fugly Friday
Took two short trades today and got bitch slapped by the short squeeze off the gap down open due to the news that POTUS has COVID. How is that possible? We all know COVID is fake news. I digress. Had 3 levels of resistance around the 1510 area in RTY…. Read more“Fugly Friday”
TGIF
RTY had a slight gap down. Looked for a rejection at the 1448 level where we had a confluence of levels. Stochastic was overbought only on the 30 sec chart. Shorted 3@1448. Wasn’t thrilled with the price action since it came close to stopping me out when it hit a… Read more“TGIF”
Operator Error
I was looking for a potential bounce this morning after a big down day yesterday. RTY should have strong support at around 1427.5. There was a confluence of 3 levels. Also the initial downswing from the open was roughly 20 points which usually for RTY signals exhaustion. Stochastics on all… Read more“Operator Error”