RTS is weak RTSI has lately been defying my outlooks. However now with oil topping and general weakness in global markets it reversed contained by 200 MA on D forming a bearish engulfing. Perhaps it is not the right time to take shorts off.
RI1! trade ideas
RTS updateThe Russian market peaked. It looks like there will be no further advance just insignificant correction today and then down sharply.
RTS is open to interpretationsWould be prudent to keep small shorts while looking to enter more when either the red or green scenario is confirmed.
RTSI UpdateThe corrective bounce is likely to continue for some time on the back of oil and SP500 going up.
Stop hunterthis is what I was talking about in the previous post. It has been several months I am testing trading without stops (or at least place them far away to protect from very low probability events only). This time it paid off.
The trick with Elliottwave trading is that you often right about the big picture but have to continuously refine the count as the lower-level details reveal themselves. Trading with stops makes you get kicked out again and again which adds to the stress of being wrong with a count and adds up to emotional and financial suffering. This, in turn, makes you increase the stakes because you feel that you nailed the near term count and with a tight stop loss you can earn a fortune quick. This rarely ends well (though sometimes I managed to pull this trick).
RTSI updateThe index is tracing out unusual wave combinations. It even makes me doubt whether it is for real or I just see what I want to see.
RTS updatethe count looks complete. With oil being in the crest of wave 3 down and near term bear in US stocks Russian market has a high probability to sink into the abyss
RI Daily candlethe price is within the range of the previous day
awaiting further correction to the targets:
min 138000
The most probable resistance level to a range of 140,000 -142,000 is the main resistance level,
at this level you can look for a set up in the down trend.
second resistance level 149,000 - 152,000
