RTY1!
I sometimes wonder if people realize how bad things are going to get.
Daily chart analysis
RTY1! Reached all-time highs after the fake money covid pump. It then spent all of 2021 moving sideways in what turned out to be a Distribution stage.
It entered a downtrend (under 200ema) to start 2022 and found support by mid-year.
Now over the last 12 months, price has pulled back to 200ema and has been moving sideways in form of a Double Top.
This possible “Double Top” pattern has formed a nice tight “build-up” of price at support. This is very bearish as bears are showing strength by containing price in a small range at support level.
Want high probability trades? Trade patterns that coincide with the trend.
Double Top pattern (Bearish pattern) + Downtrend (Bear market) = High probability short trade
The neckline has yet to be broken but the current build-up of price at support level gives us a nice risk/reward entry.
This is my cue to enter trade short.
Entry: 1769.8
Stoploss: 1913.2, -8.10%
Target #1: 1363.8, +22.94%, 2.83 RR ratio
Target #2: 973.2, +45.01%, 5.56 RR ratio
I sometimes wonder if people realize how bad things are going to get.
Daily chart analysis
RTY1! Reached all-time highs after the fake money covid pump. It then spent all of 2021 moving sideways in what turned out to be a Distribution stage.
It entered a downtrend (under 200ema) to start 2022 and found support by mid-year.
Now over the last 12 months, price has pulled back to 200ema and has been moving sideways in form of a Double Top.
This possible “Double Top” pattern has formed a nice tight “build-up” of price at support. This is very bearish as bears are showing strength by containing price in a small range at support level.
Want high probability trades? Trade patterns that coincide with the trend.
Double Top pattern (Bearish pattern) + Downtrend (Bear market) = High probability short trade
The neckline has yet to be broken but the current build-up of price at support level gives us a nice risk/reward entry.
This is my cue to enter trade short.
Entry: 1769.8
Stoploss: 1913.2, -8.10%
Target #1: 1363.8, +22.94%, 2.83 RR ratio
Target #2: 973.2, +45.01%, 5.56 RR ratio
Trade active
Trade closed: stop reached:
July 14th Stoploss: 1913.2, -8.10%
Trade active:
reEntry: 1769.8
Stoploss: 1913.2, -8.10%
Target #1: 1363.8, +22.94%, 2.83 RR ratio
Target #2: 973.2, +45.01%, 5.56 RR ratio
Stoploss: 1913.2, -8.10%
Target #1: 1363.8, +22.94%, 2.83 RR ratio
Target #2: 973.2, +45.01%, 5.56 RR ratio