/RTY (Russell 2000 Smallcap Index futures) offers an objective short entry on this breakdown, backtest, & today’s rejection off the main (white) uptrend line with an alternative entry or add-on to come on a break of the alternative (yellow) trendline. An ideal suggested stop would be calculated using a 3:1 R/R based on one’s average entry price & preferred price target(s). 120-minute chart below.
RTY 120m Jan 16th
For ETF traders, IWM (R2K Smallcap ETF) offers an objective short entry on this breakdown, backtest, & today’s rejection off the main (white) uptrend line with an alternative entry or add-on to come on a break of the alternative (yellow) trendline. Ditto for the suggested stop (3:1 or better R/R based on one’s entry & price target). 60-minute chart below.
IWM 60m Jan 16th