Anticipating IWM's Low & Subsequent Rally
The way to make money with my methodology is with a setup and a trigger ... and then you manage the trade once you have an entry!
For example, we had a setup zone in IWM in the 210.58-211.45 area. At the same time we also had timing for a possible low 5/13-15 plus or minus a day. We ended up making the actual low on 5/12 at 211.54, which was just a touch above the key support decision.
So far we've seen a rally of 15.64 from the low. We are currently at a resistance decision, which is why we are now trailing up our stops. If we can eventually push through that resistance, the next bigger picture target is 236.23. Note that we have time resistance that we need to clear also that comes in 5/27-28.
Bottom line, it's time to protect profits here if you are long IWM.