andrew.berg
Short

IWM settling for another trade

AMEX:IWM   ISHARES RUSSELL 2000 ETF
Russell 2000 started this year as underperformer, but bear chanel was broken and we had nice upside follow through and retested 2013-2014 highs. But now 8 and 21 EMAs are broken, they supported price during this move up.
Accelerated trend was broken on 8 of July and now it looks like a nice "h"-pattern with entry below $114 and stop above previous swing high and 8/21 EMAs at $116.50. 200 EMA could be my first target. Risk/Reward is not attractive in this case but what I like is high probability of this type of trade.

On Tuesday, Yellen reiterated that the Fed's loose monetary policy remained appropriate as the economic recovery was still incomplete. She also expressed concerns about stretched valuations in equity markets, especially the social media and biotech sector. Most of these small cap companies are in Russell 200.
Would you please mind sharing how did you come to target 111.80 (IWM )
Reply
andrew.berg greenplay
That is where 200 EMA is situated, could act like potential level of support
Reply
greenplay andrew.berg
Thank you very much.
Reply
Ideas Scripts Chart
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Account and Billing Sign Out