Calling for A High on the Russell @1616.60

Bear thesis:
-The Daily level almost lines up with the Weekly level by co-incidence.
-Daily alone, and Weekly alone, both have been untested. In isolation, either works but both allows for a confluence and thus increases the probability.
-The Russell typically lags other indices but is showing greater strength recently. This allows for a mean reversal in addition to the technical and statistical component.
-Unlike other indices, the Russell is better at range fills, allowing for a bare minimum target which exists at 1593.60.
-The market 'showed its hand' by creating a support base right at that 1593.60 level, which could be exceeded on the downside if the gap down is underneath that, for a larger move. Otherwise, a portion of the trade would have to be closed. Regardless, markets tend to return to support and resistance, and both are clean.

The market must move a little higher to reach there as of this writing. It appears an an excellent swing trading opportunity. Again, depending on the type of move down, the trade would be closed quicker or if a large enough gap down.

 

Its not bad call, but I can't resist...

 

I am the king.

 

You missed it by about 1 pt.

 

It exceeded my entry by a point.

 

I know. Good job.

 

I know, hadn't meant to come across as such haha but I realized I hadn't actually put the entry number except in my other prediction post from last week. I was hoping to gain more followers but I'm still 0 on IG. The trick to these types of trades is just a confluence of time.

 

Good call but I think you need to to send Trump his commission.

That same trade set up a yesterday as well, but time eroded the profits. Today because of the "no-stimulus till after the election" announcement, the profits came fast and furious. Well done if you traded live.

 

You're not wrong. I wasn't even looking after the touch and actually took a walk; I expected a day or two for a drop. I didn't see that type of setup yesterday; the longer the timeframe, the less opportunities, but the larger the move. The Weekly hit only occurred today. But the trigger happened just minutes after, which is not so common.

 

I would call it a great call, cept you are a new born and have no track record

for all we know this is your 57th nick, the other 56 discredited