I started a short positition today around $114.20ish. I will be looking to add to the position on rallies or on a confirmed breakdown of today's low. Targeting at least the 80 day EMA for the short-term (coincides with rising channel trendline). Perhaps this time we may even test the 200 day Ema?? (though IWM would still be bullish long-term)
I am not short due to fundamentals (i think they are fine) but purely technical as Russel is over-extended from key moving averages and the odds/risk-reward to the downside are good.
*I will be setting a hard stop around the recent highs ($116-$116.10ish). This is because the bearish thesis would have the most probability of being correct, if the short-term highs were set last week.
I am not short due to fundamentals (i think they are fine) but purely technical as Russel is over-extended from key moving averages and the odds/risk-reward to the downside are good.
*I will be setting a hard stop around the recent highs ($116-$116.10ish). This is because the bearish thesis would have the most probability of being correct, if the short-term highs were set last week.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.