Russel leaving no doubt Bulls are in total control
Regardless of macro environment or whatever else the price action on the Russel 2000 chart is a warning ... DONT short the indices YET... they still have some way to go.
Bullish pennant after bullish pennant in the move up from the bottom should leave no doubt in anyones mind.
A copy and paste of the flagpole of the large pennant puts the target just below its all time high.
Ive found through backtesting they are incredibly accurate for a gauging profit targets.
This is not to say that there wont be selling opportunities along the way.. in fact there is a daily order block just above its recent high where sellers will likely step in and further up an untested Weekly order block and they both align with fib ratios from the high to the low.
Bullish pennant after bullish pennant in the move up from the bottom should leave no doubt in anyones mind.
A copy and paste of the flagpole of the large pennant puts the target just below its all time high.
Ive found through backtesting they are incredibly accurate for a gauging profit targets.
This is not to say that there wont be selling opportunities along the way.. in fact there is a daily order block just above its recent high where sellers will likely step in and further up an untested Weekly order block and they both align with fib ratios from the high to the low.