RTY's Bull Flag Pt 2 8/18/2020
RTY at the daily view.
The Russell is still bull flagging. It's quite obvious by now. The downward movement is sometimes called "correction by time."
A correction by time is not actually bearish. It means the Russell is consolidating for another move up. Unless the bears take the RTY down to the bottom of that flag pole, it's still bullish. The bears had a chance all this time to take it down. They didn't... yet.
Liquidity levels are high enough to go scuba diving in. The chances of bears taking this below the flag pole? You might as well take a shot at the lottery.
The most likely course of action is that a further pullback will just gather more buyers below - like me. If not, then the bull flag may bring the Russell even higher.
The Russell is still bull flagging. It's quite obvious by now. The downward movement is sometimes called "correction by time."
A correction by time is not actually bearish. It means the Russell is consolidating for another move up. Unless the bears take the RTY down to the bottom of that flag pole, it's still bullish. The bears had a chance all this time to take it down. They didn't... yet.
Liquidity levels are high enough to go scuba diving in. The chances of bears taking this below the flag pole? You might as well take a shot at the lottery.
The most likely course of action is that a further pullback will just gather more buyers below - like me. If not, then the bull flag may bring the Russell even higher.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.