Comments on: IWM 156.56 Price Target Hit, /RTY Just Shy

By: rsotc

rsotc — Thu, 25 Jul 2019 13:25:37 +0000

In reply to kensanlb.

I almost forgot, I also posted the breakouts in /RTY & IWM in real-time as a home page post yesterday morning, which would have sent an email notification out as an additional heads up although you’d be best to set trendline alerts to be immediately notified of any chart pattern breakouts that you are watching for.

https://rightsideofthechart.com/iwm-small-caps-breaking-out/#comments

By: rsotc

rsotc — Thu, 25 Jul 2019 13:20:14 +0000

In reply to kensanlb.

The official trade ideas will always list specific entry points in advance or at the time of entry (if the trade wasn’t first added as a Trade Setup before breaking out). IWM was an unofficial trade idea with this wedge highlighted several times before it broke out although I stated pretty clearly that a breakout above the top of the bullish falling wedge pattern would “likely be the catalyst for a move up to that 1582 target” around the 19:20 mark in the Market Wrap video that was published just before the breakout occurred:

https://youtu.be/p_lsvxhHJeQ?t=1155

By: kensanlb

kensanlb — Wed, 24 Jul 2019 22:14:25 +0000

Hi Randy,
what a great trade today on RTY, too bad I missed it. :-) all good though. One question I have is, sometimes it’s hard to determine when to enter a specific trade setup and when it’s too late to enter from the posts. Could you be a little more specific when posting for example to give a range for entry? Thanks, Ken

By: rsotc

rsotc — Wed, 24 Jul 2019 19:18:40 +0000

IWM has been trading in these 'micro-trends' recently, with buy & sell signals to come on breaks of the micro-trendlines. This micro-trend has been stronger than the recent ones due to today's bullish falling wedge breakout. Also, note how the trend changes often coincide with overbought & oversold readings on the RSI on this 15-minute chart: https://www.screencast.com/t/FjeW9ABPeGCx