It seems that the Russell 2000 Futures have broken out of a semi-long-term 60-min downtrend channel. The timing and stochastics seemed to be right. However, I did not take the trade for the following reasons: 1) I have said that for me to take a trade this week, it would HAVE TO BE PERFECT. And, if a trade isn't perfect, it probably isn't worth taking in the first place. 2) While the price was right, and the risk seemed ok $600ish, I couldn't find a decent risk/reward profile for the trade. I had the stop down, but couldn't find a decent profit expectation. And, without that, risking $600 to make who knows what, was not good enough for me.
Enjoy.
1 comment:
Nice blog. I like your analysis on the market.
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