First look for Long
Then look for Short
Info on Screen
Disclaimer:
This is possible setup for my own trade only.
Follow at your own risk.
Combine Volume and Wave Analysis to Setup My Trade.
Our IWM has been sideway for many months.
In view of market situation currently, we should have a last wave of uptrend and the heading south.
So for now, I will still stand my view for IWM as slight uptrend will stronger sideway for short term view.
From the chart, as usual i will most based on my Ta analysis, by drawing channel trend line, as well as Fib...
Small lot on Price Action based on D1 candle.
RUT, Short
SL above Tail, TP double candle size.
Sell Stop 1379.80
SL 1393.50
TP 1375.10
or
Buy Put on 90 DTE options
with condition buy at market when stock price hit or below 1379.80
OCO on above SL and TP condition.
Trying on personal method just learnt else where. The idea is meant for my own tracking only.
If you come across this, you may use it as reference to cross check with your own analysis.
If you use the idea for non education and tracking purpose, it will be at your own risk.
I am on the trade, shorting this pair.
SL set to 84.20
TP set to 81.40
Monitoring when...
My view is the IWM is now hitting its resistance, and should go down a bit.
So for July options i will go for
Sell to Open 145/147 Call
Sell to Open 135/133 Put
I will consider to Sell to Open 145/147 Call first and then wait for opportunity within 7 days after enter call spread,
tp leg in Bull Put Spread 135/133 for better premium.
I might or might not trade...
IWM
Last month our Iron Condor has expired worthless after the repair and gain the full profit for the 3rd consecutive month,
except with repaired commission cost.
This month, IWm again looks to be positioned nicely in side way, but volatility is higher this time.
So trade with care, and prepare to repair anytime, do ensure we only trade up to 10% of our margin...
