IWM [Russel 2000] Inverse Head & Shoulders & Breakout
Updated
The IWM as seen from the chart has been forming a solid and strong Inverse Head & Shoulders.
An Inverse Head & Shoulders is a strong Bullish Chart Technicals Pattern, that can be seen here. 2 Shoulders, and 1 head in the middle, making the low.
I am sharing this idea, as it is a pattern which has been printed on the Russel-2000 this past week, and can't go unnoticed!
The Russel-2000 Index has also been in a YEAR-long consolidation, and is ready to make a move one way or another.
On the weekly time frame of the Russel, the TTM_SQUEEZE Indicator a momentum indicator that can also predict big moves has been flashing red (signaling squeeze) and that a big move is coming one way or another.
AFTER This recent breakout attempt in November from IWM, and a retest of the bottom consolidation levels, the russel seems ready to bounce up with this inverse head and shoulders, or make a break down.
I think this is something to definitely keep on your radar folks!
Good Luck Trading!
I am personally looking at playing this with either :
IWM febuary monthlys OR
URTY a 3x leveraged russel ETF
An Inverse Head & Shoulders is a strong Bullish Chart Technicals Pattern, that can be seen here. 2 Shoulders, and 1 head in the middle, making the low.
I am sharing this idea, as it is a pattern which has been printed on the Russel-2000 this past week, and can't go unnoticed!
The Russel-2000 Index has also been in a YEAR-long consolidation, and is ready to make a move one way or another.
On the weekly time frame of the Russel, the TTM_SQUEEZE Indicator a momentum indicator that can also predict big moves has been flashing red (signaling squeeze) and that a big move is coming one way or another.
AFTER This recent breakout attempt in November from IWM, and a retest of the bottom consolidation levels, the russel seems ready to bounce up with this inverse head and shoulders, or make a break down.
I think this is something to definitely keep on your radar folks!
Good Luck Trading!
I am personally looking at playing this with either :
IWM febuary monthlys OR
URTY a 3x leveraged russel ETFOrder cancelled
This obviously didn't work out. Glad i entered. Looks very BEARISH now.
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.