The RTY daily time frame is in a down channel.
The market is at the bottom of the channel where
support could be found. If support is found, the
market could push bullish towards the top of the
channel price point 1944.1. If support fails. The
market is expected to push bearish towards the
daily down Fibonacci price point 1700.6 about
-869 ticks below the market. It will be a good
idea to wait for either A) the market to close
below the bottom of the support then turn to
the one hour time frame to look for short ideas
towards the daily down Fibonacci
or B) Support holds and the market creates a
bullish trend and pushes bullish towards the top
of the channel price point 1936.2 about +1,482
ticks above the market.
The market is at the bottom of the channel where
support could be found. If support is found, the
market could push bullish towards the top of the
channel price point 1944.1. If support fails. The
market is expected to push bearish towards the
daily down Fibonacci price point 1700.6 about
-869 ticks below the market. It will be a good
idea to wait for either A) the market to close
below the bottom of the support then turn to
the one hour time frame to look for short ideas
towards the daily down Fibonacci
or B) Support holds and the market creates a
bullish trend and pushes bullish towards the top
of the channel price point 1936.2 about +1,482
ticks above the market.
