|Click here to view this email in your browser. To read today’s edition of Josh’s Daily Direction on our website with updated charts and graphics, Click Here.Good morning, Traders!|
It’s time for your Daily Direction update! It’s been a wild ride over the last few days, but there are still some pretty good opportunities for profitable trades in the world of futures!
For this morning’s Daily Direction, we’ll take a look at the E-mini Russell 2000 (RTY). Right now, the market is doing everything we want it to do! Both the long-term and short-term directions are up, and the market is currently in the buy zone.
The RTY has broken the counter trendline in the one-hour timeframe, and now we just need to wait for the market to start making the right moves as we buy in!
For the full picture of the current RTY setup, let’s take a look at our timeframe charts: Daily Timeframe AnalysisThe daily RTY timeframe remains in an overall up channel. The price has hit the bottom of that channel (bottom grey line) and started to rebound bullish toward the top. That means we could see a +1539 tick movement.DAILY TIMEFRAMEThe direction within the daily timeframe is up1-HR TIMEFRAMEThe current direction for the one-hour timeframe is upTHE BOTTOM LINEThe RTY market hit a U-turn point and turned bullish The daily RTY is currently in an up channel (top and bottom grey lines). The market has hit the bottom of the channel and is rebounding back toward the top in a bullish run.Armed with the data from the daily timeframe, we should take a look at the one-hour timeframe to see if we’re in a position to buy the market! Again, remember how we use each timeframe: the daily confirms the high and low price of the market, while the one-hour confirms how we enter the market.One-Hour Timeframe AnalysisThe one-hour RTY timeframe has broken through the counter trendline (diagonal grey line in the below chart) and has entered the buy zone!
That means we need to keep our eyes open as the market continues to shift on its way back toward the top of the channel. Don’t forget that markets trade in waves. We’ll see up and down movement in the price as the overall direction remains up! The RTY one-hour timeframe is in the buy zone! We can expect the market to rally bullish back toward the top of the channel (upper grey line).Now we wait for the market to do what we expect it to do and start following through with its bullish rally. We buy at a low price within the buy zone and watch as the price begins to rebound back to the top of the channel!The Bottom LineThe long-term and short-term directions for the RTY are both up. The market has entered into the buy zone within the one-hour timeframe. We can expect the price of the RTY to enter into a bullish run back toward the top of the channel. The RTY is in the buy zone and poised to rally back to the top!So what are you waiting for? Now’s your chance to get in and start making winning trades. I’ll show you how to do it no matter your level of experience, even if it’s zero!Keep On Trading, Mindset Advantage: Pace YourselfYou can’t make a full-time career in a day, but you can blow it in a minute.
Slow the [insert word of your choice] down! Time and time again, we talk to traders that YOU JUST KNOW are thinking…. ‘Boy I’ll never retire at this pace.’
What comes next is as predictable as death, taxes and your mother-in-law’s glare. Contracts go from one… to three… then five or more. Stops get pushed back. Losses pile up. More trades take place to cover those losses.
And then it’s over. Good night Irene – the account has been cleared.
Just pace yourself. There’s plenty of money and plenty of trades to take. Stick to your risk/reward ratio. Hold to those stops.
Take the losers with the winners and become consistent.
Build your empire with time and care!Traders Training SessionTrading Longer Time Frames vs Shorter Time Frames Tutorial