IWF trade ideas
$IWF Double Top 3 Lower High Bull FailureBuyers have created a double top from a few days ago which held prices down. Once sellers were able to prove they had the strength to create double tops, they then came in with 3 lower high bull failures completely derailing the bulls from the wedge breakout up. Now, with a fake-break of the wedge top and heavy bear momentum back in, sellers will be hunting for reasons to short down to wedge lows or, at the very least, the congestive lows / closes / wicks.
$spy Get Out of Growth $iwf buy Value $iwd add alfa to your portTiming won't be perfect, but this relationship is back approaching extremes reached in 2000. Growth is literally off the chart vs value. Look at the drawdown in 2000-2001 for iwf. Notice how $iwd barely went down in comparison? Protect your gains!!
Buy Alert for IWFMy WT Cross Strategy has alerted me to a buy signal for IWF, at a price of $153.66 using a 180-min time frame. My idea is to buy the dip, at a price below $153.66. I will update when I get the signal to close the trade.
I am using the following parameters for this trade:
Channel Length - 1000
Average Length - 1
Average Length2 - 11
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I have a Pro+ subscription for Tradingview so this gives me access to more data than someone with a free or even a lower tier sub. More data should enable me to construct a more robust model, so your mileage may vary if you are trying to use this strategy for a free account. Please use caution, and be advised. Good Luck All!