MichaelRudelich

Pullback, New High, then Sideways & Down

Long
MichaelRudelich Updated   
AMEX:IWM   iShares Russell 2000 ETF
2
IWM has pulled back for 2 days after a ridiculously strong bull trend. The pullback might last another day (or two). The odds are that it will make a new high, then evolve into a range, and probably drop off. Not sure yet how far up the new high might be; let's see how far the pullback goes first.
Trade closed manually:
I sold my long position during the 3rd bear bar from the top (132.20). Waiting to see if there is another push up. For now I am day trading this index.
Trade active:
We have gotten the new high. See Related Idea below for current strategy.
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.