Time is running out for this trade setup

Good morning, Traders!

The RTY is blasting off like a rocket toward the top of the channel! We got the counter trendline push just as I expected. The market is headed upward toward the 2325.00 price point within the one-hour timeframe. But we could see the market run out of opportunities if it stays on its current course. Follow today’s Daily Direction to find out why!

As much as we like seeing a market head toward higher prices, we have to be careful when a market gets close to resistance. Remember that resistance is a known price point where sellers begin to take over the market and drive the price down.

When a market starts to approach a known point of resistance, we should start to watch for a coming retracement or sell-off. We don’t want to buy a market when the price is too high, or we run the risk of losing money!

Let’s take a look at the RTY’s timeframe analysis to get a better idea of where the market is headed:

Daily Timeframe Analysis

The daily timeframe for the RTY is looking very impressive. The market has clearly broken the counter trendline and is headed toward the top of the channel. But if you look closely, you’ll see that we’re approaching the daily resistance price point.

That means we’re running out of opportunities to buy the market while it rallies. Once we hit resistance, we can expect the market to sell-off. We don’t want to be caught in the middle of that if/when it hits.

DAILY TIMEFRAME

The long-term direction is up for the RTY

1-HR TIMEFRAME

The short-term direction of the RTY is currently up

THE BOTTOM LINE

The RTY has broken the counter trendline and entered the buy zone

Learn more about the Daily Direction Indicators here…

Daily timeframe

The daily timeframe shows the RTY rocketing toward the top of the channel

We know that the overall direction for the RTY is up. So a temporary price drop won’t worry us. We’ll just wait for the market to head back into a bullish push and look for chances to buy the market again!

One-Hour Timeframe Analysis

As we turn to the one-hour timeframe, we can see that the market is near resistance and looking to turn back down toward the bottom of the channel. That’s a sign that sellers are driving the price back down since we’re so close to that resistance price point.

This is where the one-hour timeframe becomes very important. We’ll watch it for signs that a sell-off/retracement is occurring, signaling that we’ve run out of opportunities to buy the RTY.

One-hour timeframe

The RTY is getting very close to resistance as it approaches the 2325.00 price point

When a market drops in price, it’s important that we then look for signs that it has begun to turn around and rally again. The market moves in waves. Another rally will follow a price drop. We just have to look for signs of the market U-turning back toward the top!

The Bottom Line

While the overall direction for the RTY remains up, we’re running out of opportunities to buy the market as it approaches resistance. Our timeframe analysis will be our best tool for making sure we know when to step away from buying and prepare for whatever the market has in store for us in the coming days.

The Bottom Line

Our timeframes will give us guidance on what to do with the RTY in the coming days

But without my strategy, you’ll be adrift in a sea of confusion as the market does what the market wants. Check out my futures trading strategy to learn more about how you can start becoming a serious trader today. Take out the guesswork and start leveraging my knowledge and expertise!

Keep On Trading,

Mindset Advantage: Accept

It’s not the market. It’s not your indicator. It’s TRADING.

Let it go. The first step toward consistent profits comes when you accept the reality that losses will occur.

Prices have a mind of their own at times. The institutions are at the wheel. The sooner you accept this, the more progress you’ll make.

Look at the past, but don’t stare. Accept what’s happened and move on.

Target tighter entries. Get the heck out of those losers you’re hanging on to.

Accept. And start to enjoy trading.

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Stay tuned for my next edition of Josh’s Daily Direction.

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Josh Martinez

Josh Martinez

Josh Martinez is an elite Analyst who’s been actively trading the financial markets since 2011. He’s known as one the leading innovative traders in this industry due to his his cutting-edge strategies.

Josh first burst into the scene when he took an initial deposit investment of $500 and turned into over $39,000 in just under 2 years.
Josh’s trading articles have been featured in Your Trading Edge, The FX Street, Trader Planet, Forex Crunch, Trading Pub, and Equities.com.

In addition to trading, Joshua has also trained thousands of traders worldwide. His strategies and systems have helped others find success in the market

Reader interactions

2 Replies to “Time is running out for this trade setup”

  1. I was on one of your ads on YouTube trying to sign up for the $5 membership and YT closed out. How do I get that membership before Sep 30? Please help! Thank you! :). Carla. 813-415-9331

    Reply

    1. Traders Agency Analyst Anthony Speciale September 4, 2021 at 9:09 am

      Hi Carla. Thanks so much for leaving us a message. I have forwarded your message to our support staff. We're off for Labor Day weekend, but I asked them to give you a call on Tuesday to get you all setup. For future reference, our phone number to reach us is 888-483-5161. Happy Trading!!!

      Reply

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