If the market provides a counter trend line break bullish, It may be a good idea to buy some call options on IWM which is the ETF of the Russell 2000. Could day trade the futures contract and swing trade the option contract. Just a thought.
AATABONG
⋅
@JoshuaMartinez, will it be a good idea to put destination trader on autopilot long towards the top of the channel?
JoshuaMartinez
⋅
@AATABONG, Sorry for the late reply. Yes, that will be a great idea.
Jaime_A
⋅
Since the market retraced to 1401 to end the week, is the trade plan still valid or are you looking for more weakness (retest the bottom trendline) before resuming the buying with DT?
Any update?
Thanks!
dhairyas100
⋅
Loved it !
chadstarbucks
⋅
2000 or 200? 1400 to 1600?
JoshuaMartinez
⋅
@chadstarbucks, Looking for a 2,000 tick bullish push towards the top. Just need a counter trend line break bullish for entry.
chadstarbucks
⋅
@JoshuaMartinez, Thanks. Finally looked up an investment sheet over the weekend. Realized 0.10 is a tick and now understand the math. Rookie mistake. Thanks for the clarification. Good to know you are still watching it. I was waiting for counter trend line break also but I wasn't sure how it's break below the up trend line a couple of hours ago would affect the decision making process to enter or not. Thanks, Josh.
JoshuaMartinez
⋅
@chadstarbucks, Really great question. When it comes to trend lines. I try not to be super strict with them. I have learned the markets like to U-turn at on and around the trend lines. Especially in channels. It is pretty normal for the market to test the trend lines before a major U-turn. Looks like we were spot on with the bottom on this one.
The market went up much faster than expected, but we will see if there is going to be a wave or if the market is just going to push to the target.
chadstarbucks
⋅
@JoshuaMartinez, gotta remember "at on and around". Thanks. This is great!