IWM
Fubo reversal?$FUBO looks like its starting to bottom out at the $20 psychological level. Grabbed a $20 call with time.
Not a bad place to grab some shares either if your bullish IMO
- Strong bullish hammer candle on daily indicating buyers are present at this weekly support.
-Fubo got smacked from $35 before earnings to $20, great risk to reward play.
Swing targets: 21.3, 21.8, 22.55, 23
Stop is a close below $20
I will most likely add to my position again if we retest and hold $20 tomorrow.
About That Small Cap "Breakout"Similar to #ES_F, IWM had signs of a false breakout while everyone was clamoring for a Santa rally. Though we did breakout after an accumulation period, one that lasted almost the entirety of 2021, we had trend line resistance from the 2020 lows directly overhead. If we lose the 2021 accumulation zone, selling could accelerate with velocity.
Rolling: IWM December 23rd 246 Short Call to 234... for a 1.77 credit.
Comments: Rolling down the short call aspect of my December 23rd short strangle to cut net delta/directionality. Collected a total of 6.01 in credits so far. (See Post Below). The resulting position is still net delta long, just not as long as it was.
Rolling: IWM December 17th 242/232 Short Strangle to January 7th... 232/234 Short Strangle for a 4.82 credit.
Comments: With 21 days to go, rolling this out to cut directionality. I've collected a total of 10.43 in credits so far (See Posts Below). Position remains net delta long.
that's what SL is for.recently russel broke the ceiling that was holding it for almost a year.
now it would be interesting entering a long during the retest. placing the SL just bellow last low made the 27th of october.
not because it's a safe trade but becasuse of the RR involved, since that the range has been broken, this leaves us with a proyection to the up side equivalent to the range it selve, wich is also the 1.6fib proyection of the recent impulse after the lst corrective phase.
currently the price is sitting on the 50% retracement of the move done until now.
on daily there are clear signs of a correction in act, volume is not as high as during the ceiling break and tho it made almost the sale movement.
on 4htf stochastic is starting to cross to the upside, i find stochastic the best indicator to trade russel's mid high tf, since it's a "range indicator", and in a range is where rus has been for almost a year.
on the 1H ft, there are divergences on stoch and rsi. this doesn't mean that the divergence can't follow forming.
in the end, it's a nice RR trade of 4:1, in'm already booked in at the 50%fib, and if goes to 38% i will think about adding contracts, using the same sl.
take in count that trading is not about having a 80% hit rate, that's impossible, and if some one says he does...well he was probably long during 2020/21. i mean, it doesn't surprise me that people will have had great RR these 2 years, but that shouldn't be taken as reference. the normal hit rate should be around 50% and risk managing like if your life depended on it makes your account grow steadily and constantly.
use the power of a steady compound growth rather than a yolo
and use SL, que pa' eso estàn Ramon
Rolled: IWM December 23rd 258 Short Call* to 246... for an .82 credit.
Comments: Rolled the short call aspect of my December 23rd short strangle to cut net delta in half. I originally opened this for 3.42 (See Post below) with a take profit target at 1.71, so am revising my take profit to 1.71 plus the credit received for the roll of .82 or 2.53.
The net delta of this short strangle (short put + short call) still leans long.
* -- Shown here at the 250 strike in order to fit it on the chart without squeezing.
iwm updatepreviously i discussed the requirement for iwm to break-out of the range it was in \ consolidate above it & hold to see continued upside for that final fifth wave.
we've broke out finally, but is this a real breakout, or is it just another trap?
i'd like to see it consolidate up here for at least another week before making any kind of decision.
if it could pull this off, we'll see small caps go parabolic for a bit.
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20 year count 👇
SPYThe S&P is under some selling pressure, which we can see in the upper vwap levels.
What we are looking for is to see if we gain or reject the upper vwap levels if rejection look for us to challenge the buyers at the lower vwap levels.
TOP ALT WAVE COUNT 249 ON DEC15 IWM THERE are 3 wave counts within the IWM VERY BULLISH WE ENDED WAVE 2 ALT is we ended a wave 4 within a diagonal and the 5th wave would end at 249 plus or minus 1.5 pts being a .618 of wave one up from march 2020 low and is wave 1 and 5 being within the 5th this is an area to which I WILL SELL OUT MY NEW 100 % LONG I WILL NOW PLACE A STOP AT 227 CLOSE ONLY . NEXT YEAR THE IWM WILL DECLINE OVER 16% MIN
RTY LonnngggRTY .618 tap on the fib retracement. I'm long here as a result. Good r/r after making ath.
$IWM Target 221$IWM Target 221
Lot’s of signs pointing down at the moment, and I have my eyes set on 221
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I am not your financial advisor, but I will happily answer questions and analyze to the best of my ability but ultimately the risk is on you. Check out my ideas, but also do your own due diligence.
If you want me to analyze any stock or ETF just leave me a comment and I’ll do it if I can.
Have fun, y’all!!
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WAVE 3 OF 5 BLOW OFF IS STARTING IN ALL INDEXES The markets look to be setup for wave 3 of 5 to start . i am going back to a net 100 % long in calls only
IWM: $252 comes over the next 3 Weeks!V recovery to start tomorrow. We took off the first 2 of 3 legs at over 200% each. Loaded back on Thursday for end of December. Oh Yeah we're ready for 252.
IWMLast week was a depressed week for small cap investors with a lot of stock reaching extreme oversold conditions not seen since the subprime crisis. The volume was also very low, which leads me to think that it was a possible tax selling reason. With the small-cap index pulling back to test the support zone previous resistance area, we might start to see next week the first signs of a rebound.
