May 18 | We're headed back to the top!

Click here to view this email in your browser.  To read today's edition of Josh's Daily Direction on our website with updated charts and graphics, Click Here. We've seen some interesting movement across the entire market over the last few days. It's had an impact on futures, but we're seeing some good opportunities for profitable trades developing! Today we'll focus on the Russell 2000 futures index (RTY). Both the long-term and short-term directions are up. Right now, the daily timeframe has maintained the upward channel, meaning that support has held, and the market has started to U-turn toward a bullish rally. Remember, we look for U-turns as a sign that a market is beginning to go back up in price, helping us make the decision to buy into the market. If the trend holds, we're looking at a +1500 tick upward movement in the RTY! Let's dive into the full timeframe analysis for the RTY... Daily Timeframe Analysis The daily timeframe analysis for the RTY reveals that the market is maintaining the upward channel. That means the overall direction for the market is still up. We see higher highs and higher lows in the price movement. Opportunities to enter the market with a trade are developing, and the buyers have control of the market. DAILY TIMEFRAME The direction within the daily timeframe is up 1-HR TIMEFRAME The current direction for the one-hour timeframe is up THE BOTTOM LINE The RTY hit a U-turn point and turned bullish   The RTY daily timeframe is still in an up channel (upper and lower grey lines) and remains bullish as it heads for a +1500 tick rally (long green arrow) If the trend holds, we could see a +1500 tick push bullish as the price continues to go up! This is good news for the RTY and for us as we look for chances to trade the market. One-Hour Timeframe Analysis The one-hour timeframe looks just as good as the daily timeframe. The price broke through the counter trendline (top diagonal grey line) and is headed toward the 2232.5 Fibonacci limit right now (top blue line).   The RTY one-hour timeframe confirms a bullish rally and the price has broken through the trend line (upper grey line). The price is headed for the up Fibonacci limit of 2232.5 (upper blue line) When the price hits the Fibonacci limit, we could see a slight retracement (the price will drop). But this isn't something to worry about. Remember that the market trades in waves, so we'll see up and down movement as the market continues to move up. The Bottom Line The overall direction for the RTY is bullish. Both the daily and one-hour timeframes confirm the trend. We see the price breaking through the counter trendline and headed higher. We could see a price drop on the way up, but remember that's because the market trades in waves. That will give us more opportunities to buy when the price is low as it works its way up within the overall upward trend!     The overall direction for the RTY is up as the price has entered a bullish rally This is the type of trade where we stand to make a comfortable profit, if we follow the right strategies and stick with our trade plan! Keep On Trading,   Mindset Advantage: Accept It's not the market. It's not your indicator. It's TRADING. Let it go. The first step toward consistent profits comes when you accept the reality that losses will occur. Prices have a mind of their own at times. The institutions are at the wheel. The sooner you accept this, the more progress you'll make. Look at the past, but don't stare. Accept what's happened and move on. Target tighter entries. Get the heck out of those losers you're hanging on to. Accept. And start to enjoy trading.  Traders Training Session Which Way Will the Market Go? 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