Ensof0112
Short

IWM Short Play

BATS:IWM   ISHARES RUSSELL 2000 ETF
112 2 0
I started a Tier 2 size position short around $106.93 avg. I have a tight stop risking around 0.60% to perhaps make around 3%. Risk-Reward for this sell trade looks good to me.
MACD bearish crossover + Divergence. RSI divergence.
Although Moving averages are pointing bullish .
That's true! Not sure if the high is in + Russel has been relatively much stronger compared to SPY and DIA this year.
I will probably look to hedge 1/2 of my short position with Nov. $106 calls or Dec. $106 Straddle if I can get a good entry next week.
I am unsure about the direction but I am bullish on volatility from here on.
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Looks like a pick pocket triangle pattern. Pick pocket, because you often see a big throwback or pullback in the opposite attended direction.
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