IWM Trade on Nov 3, 2021 09:50 from JRockTrades: Tradervue User Stock Trades.

IWM has been in a longterm consolidation after the monster move it made last year. The rest of the indices (SPY and QQQ) have been on fire, but until recently IWM has stagnated. I have been watching it to try to determine when it will break toward higher prices. A couple days ago it crossed a very important trendline around 231, but I missed all the good entries. Ever since, I have been trying to figure out where I could find a low risk entry for a swing of undetermined duration. Last time it ran, it made 65 points over 2 1/2 months for perspective.

This morning IWM was testing the ATH less than an hour into the trading session. It made a really big move a couple days ago and thus far on this day it had moved much less, leading to the conclusion that it still had room to move on the day. I was watching as it broke the all time high (at 235.35) and I decided to buy it there. My thought process was that if it was going to break to higher prices this might be my last chance to buy it this cheap. I was risking it breaking back below the previous ATH.

IWM proceeded to go on a monster run straight to 238, where I sold half to cover the entire remaining risk on the trade. My stop on the swing portion is below the LOD from today at just below 234 giving me about $1.75 of risk. Already a guaranteed winner (as long as we don't get some strange overnight gap down below my stop outside of normal trading hours). I'm not yet sure what my reason to sell will be, but it should be obvious at some future point.