recently russel broke the ceiling that was holding it for almost a year.
now it would be interesting entering a long during the retest. placing the SL just bellow last low made the 27th of october.
not because it's a safe trade but becasuse of the RR involved, since that the range has been broken, this leaves us with a proyection to the up side equivalent to the range it selve, wich is also the 1.6fib proyection of the recent impulse after the lst corrective phase.
currently the price is sitting on the 50% retracement of the move done until now.
on daily there are clear signs of a correction in act, volume is not as high as during the ceiling break and tho it made almost the sale movement.
on 4htf stochastic is starting to cross to the upside, i find stochastic the best indicator to trade russel's mid high tf, since it's a "range indicator", and in a range is where rus has been for almost a year.
on the 1H ft, there are divergences on stoch and rsi. this doesn't mean that the divergence can't follow forming.
in the end, it's a nice RR trade of 4:1, in'm already booked in at the 50%fib, and if goes to 38% i will think about adding contracts, using the same sl.
take in count that trading is not about having a 80% hit rate, that's impossible, and if some one says he does...well he was probably long during 2020/21. i mean, it doesn't surprise me that people will have had great RR these 2 years, but that shouldn't be taken as reference. the normal hit rate should be around 50% and risk managing like if your life depended on it makes your account grow steadily and constantly.
use the power of a steady compound growth rather than a yolo
and use SL, que pa' eso estàn Ramon
now it would be interesting entering a long during the retest. placing the SL just bellow last low made the 27th of october.
not because it's a safe trade but becasuse of the RR involved, since that the range has been broken, this leaves us with a proyection to the up side equivalent to the range it selve, wich is also the 1.6fib proyection of the recent impulse after the lst corrective phase.
currently the price is sitting on the 50% retracement of the move done until now.
on daily there are clear signs of a correction in act, volume is not as high as during the ceiling break and tho it made almost the sale movement.
on 4htf stochastic is starting to cross to the upside, i find stochastic the best indicator to trade russel's mid high tf, since it's a "range indicator", and in a range is where rus has been for almost a year.
on the 1H ft, there are divergences on stoch and rsi. this doesn't mean that the divergence can't follow forming.
in the end, it's a nice RR trade of 4:1, in'm already booked in at the 50%fib, and if goes to 38% i will think about adding contracts, using the same sl.
take in count that trading is not about having a 80% hit rate, that's impossible, and if some one says he does...well he was probably long during 2020/21. i mean, it doesn't surprise me that people will have had great RR these 2 years, but that shouldn't be taken as reference. the normal hit rate should be around 50% and risk managing like if your life depended on it makes your account grow steadily and constantly.
use the power of a steady compound growth rather than a yolo
and use SL, que pa' eso estàn Ramon