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kingmidasLXIX
Feb 23, 2021 10:31 PM

Localized Trendline Broken  Short

iShares Russell 2000 ETFArca

Description

The Russell has been stubbornly strong with looming Government stimulus bill, but the trendline in place since the US election has finally been broken... I foresee a stairstep selloff in the coming weeks, simple chart, simple parameters. A close above the upper trendline would invalidate this bearish trade setup.

*Personal opinion + TA interpretation= not investment advice

Best of Luck!

Order cancelled

Comment

Opening very small short position although my original trading concept has blown up, the double top formation is highly likely given almost no volume. Will examine 3/19 215/205 put debit spreads friday
Comments
ForecastCity_World
Nice chart
kingmidasLXIX
@ForecastCity_World, well that was brief!
TanukiTrade
You were right, yet you had to quit.....I've sucked similar setups during the past years until I'm started to using options.
Check this for example on IWM russel 2000:
Cbnyc
looks like it might setup
Cbnyc
i would enter break of 215.50 on volume
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