I share my top trade setups whenever I have a big, new idea for the market…
And to invite global comments, I provide the core chart and discussion on my TradingView page.
This week, the Russell 2000 Index (RTY) is starting to show a bullish formation, which could lead to a big upside move.
So, let’s take a look at this market today and see how it’s shaping up…
RTY In An Up Channel
Here’s how I see the chart setting up for this week’s idea…
The RTY daily time frame is in an up channel. The market is near the bottom of the channel.
If support holds, it is expected the market to push bullish towards the top of the channel price point 2,076.30, about +2,840 ticks above the market.
It will be a good idea to turn to the one hour time frame and to look for low prices in the buy zone.
The Bottom Line
There are multiple ways to trade the futures, stock and other markets. We can trade the indexes, both up and down, as well as individual stocks…
But I have been working on a special strategy for identifying great stocks that you might want to learn more about.
If you’re interested, check out the important P.S. below…
For more on the markets as well as trading education and trading ideas like this one, look for the next edition of Josh’s Daily Direction in your email inbox each and every trading day.
I’ll be bringing you more of my stock and futures contract trading tutorials as well as some additional trading ideas.
And before you go, head on over to the Traders Agency YouTube channel for breaking market news, live trading sessions, educational videos and much, much more!
Keep on trading,
P.S. I have been working with my team to find what I call “marked stocks.”
These are stocks that are potentially setting up to generate big gains… And you need to get in on them with me.
The post This Week’s Big Idea for the Russell 2000 appeared first on Josh Daily Direction.
