5.15.23 RTYM23 Long
RTY has been strong recovering from the recent banking sell-off (for the time being).
Looking at a few demand areas for longs. The first zone is mean to be an overnight set and forget.
The closer the zone to the origin of the move the better the chance of it working so the lower DZs are likely stronger.
Watch for tomorrow's 8:30am Retail Sales reports as they could add volatility to the markets. If reports produce worse than expected numbers, market sentiment may shift in the short-term.
- Trades taken using confirmation entires have a higher probability for sucess.
- Using an initial 1:1 target is recommended for reducing risk.
- Short-term income trade ideas are good for the day unless otherwise stated.
*** For educational purposes only ***
Looking at a few demand areas for longs. The first zone is mean to be an overnight set and forget.
The closer the zone to the origin of the move the better the chance of it working so the lower DZs are likely stronger.
Watch for tomorrow's 8:30am Retail Sales reports as they could add volatility to the markets. If reports produce worse than expected numbers, market sentiment may shift in the short-term.
- Trades taken using confirmation entires have a higher probability for sucess.
- Using an initial 1:1 target is recommended for reducing risk.
- Short-term income trade ideas are good for the day unless otherwise stated.
*** For educational purposes only ***
Comment:
The first demand zone triggered a confirmation overnight and would have closed for at least break-even. The 2nd zone did not pride a confirmation for entry so no trade was taken. The 3rd zone privided concirmation for entry and is still an active oportunity.
Trade closed: target reached