Don’t fight the trend make the win greater than the losses.

Don’t fight the trend make the win greater than the losses.

Thank you. I decided to trim my IWM and RTY futures shorts due to weekend but it looks primed for a big reversal soon. Let’s see what Powell and PCE brings us tomorrow.

Sure. I covered WEAT & /ZW (along with corn) in the video I posted today (Thursday) & as I’m looking for what could very well be a major bottom in wheat, I’m focused more on the longer-term (daily & weekly) charts vs. my typical intraday charts I use for active swing trading. Here’s my daily chart (18 months) of /ZW with targets.

IWM was covered in this video around the 5 min or so mark. Basically, it is backtesting the bottom of that big topping/trading 2021 range (resistance) from below as well as the uptrend line/rising wedge pattern off the Oct ’23 lows from below. As long as IEF (7-10 yr) Treasury remains in (or not too far above) or below my yellow zone, I believe a good case to be short IWM/RTY can be made. If/when IEF drops into the orange zone, especially if QQQ loses 433, I plan to have a full/overweight swing/trend short position on the smallies.

daily chart

broke down the big trendline on the monthly chart in 2022, made almost 100% retracement but didn’t even regain the trendline. and there’s a big gap to fill to the downside on the daily

Sorry to hear that, Trade.
Tough to short a market that has been going up at a 45 degree angle nonstop for the last 5 months.
Don’t fight the tape.