Hello, Daily Direction readers!
The market has thrown us a few curveballs over the last few weeks. It’s been one crazy roller coaster ride after another.
But that doesn’t mean we’re out of options in our trading setup! We always look for opportunities no matter how weird the market gets.
Today, we’re looking at the E-Mini Russell 2000 (RTY) as we prepare to analyze the long-term and short-term directions for this market.
It may sound surprising, but the long-term direction for the RTY is currently unknown. There’s a lot going on, and we need more data to make a solid decision.
But the short-term direction for the RTY is bullish toward 2103.6. That means we’ll keep our eye on the short-term analysis for now.
Let’s jump to the timeframe charts to get a better idea of what’s going on:
One-Hour Timeframe Analysis
The RTY has clearly broken the down trendline. We’ve seen the RTY make lower lows and lower highs as the market slid during a significant sell-off.
And while we’re uncertain about the long-term direction of the RTY, we are looking for a bullish push in the short-term toward the 2103.6 price point.
It may sound intimidating that the long-term direction is unknown, but this gives us an opportunity to reanalyze our strategy and prepare ourselves for upcoming changes in the market.
Remember that the market trades in waves. Sell-offs bounce back into bullish runs once the buyers take over again. Until that happens, we just keep our eyes on our timeframe charts and make sure our strategy is ready!
The Bottom Line
We’ll continue to monitor the RTY as the broader market continues to shift. And while we’re doing our research, it’s important to remember to keep our emotions in check.
Fear, anger, and worry force us to make unwise trading decisions. That’s why you need to check your emotions at the door when you trade.
Having the right strategy to guide you during these volatile times can mean the difference between trading another day or draining your trading account.
The RTY is just one of many futures markets that I follow. There are so many opportunities in the futures marketplace.
If you’re ready to get started, be sure to check out my free information on futures trading and how you can develop a solid trading strategy!
Keep On Trading,
Mindset Advantage: Breathe
If you’re not breathing, you’re not focused. If you’re not focused, you can’t see the market. Opportunities slide by in an instant. Hazards reveal themselves only when it’s too late.
You need to breathe. Breathing exercises have proven to reduce stress and increase focus.
Sure, you’re already breathing if you read this. But when you trade… you need a breathing regimen. Whatever it is: Through your nose, out your mouth counting to 10 or 100. Find a method and routine that works for you.
You’ll find balance, clarity, and focus when you trade. Your heart rate will come down and you’ll just feel better.
Try it. And enjoy your trading.
Traders Training Session
Stay tuned for my next edition of Josh’s Daily Direction.
And if you know someone who’d love to make this a part of their morning routine, send them over to https://joshsdailydirection.
The post Has the Roller Coaster Market Thrown You for a Loop? appeared first on Josh Daily Direction.