RTY - 120 min - should hold a critical support at 1,449.50

If we zoom-out to 2 hour chart we will see that Russell futures have been following a five wave up fractal off the bottom of the wave ( 4 ) down made late December 2018.

As long as RTY holds over its critical support at 1,449.50 I will be counting this decline as a corrective wave ( iv ) down to be followed by another rally in wave ( v ) up targeting a new higher high.

So far this pullback in wave ( iv ) down has been structured as a simple zig-zag. We are in the final subwave (c) down that should be subdivided into five smaller waves. Currently it looks like this night rally  is a corrective wave iv up with another drop coming targeting 1,474-1,466 (the green box).

If we get that drop into the target box that would be a great long setup to ride a rally that at first should retest the previous high at 1,600.

RTY - 120 min chart updated on 3/25/2019

Start to Learn Now!

Subscribe to my video course
and learn to predict market moves

YouTube Channel

Subscribe to my
YouTube channel

Check My Latest Updates!

Check all the recent updates