See the previous technical analysis of BTCUSD and the trade idea to short it. Since then, relative technical strength from ETHUSD and an anticipation that this may lead to a rally in crypto, led to aborting the trade idea with a small loss. Traders can follow the trade idea and update to see an example of being agile in trading and cutting your losses short, in light of new technical evidence, even if it relates to a parallel asset that should affect your trade.
If you have been trading crypto, you have been there.. You are hit by a reversal and give money back to the market. What can you do instead of blaming Mister Market? This simple tip will probably save you next time.
So what did that stock market do today? We look at the Russell 2000 Futures following the Inflation report and look at where price is trapped, and what to look for next.
As the currency market is setting itself up for EURO and USD parity, we look at price levels to scale in for a possible Long and fade the recent move down, anticipating a rebound, even a partial one, that can offer an attractive reward vs risk ratio.
We follow up on our previous BTCUSD technical analysis and trade idea to short the crypto king, and demonstrate what a profitable trader should do now.
A technical analysis for the Russell 2000 Emini Futures (RTY) for the end of July 05 with a video for the shorter timeframe and an image for the yearly view. Bullish.