It may work, it may not.
It can be played on IWM, TWM and TZA.
The setup is a bullish falling wedge or bearish rising wedge, depending on the issue. For the setup to work, price must breakout – up or down – out of the wedge [and stay out].
Such a breakout [up or down], will often jump, and then step back to backtest the breakout. Other times, it will jump and keep right on going.
TZA monthly. Blue trendline from long ago, suggests this could be turnaround time.
TZA daily. Bullish falling wedge.
IWM daily. Bearish rising wedge.
IWM monthly. The purple trendline from the top in 2007 is an important one to hold, and right now, it is.
TWM daily. Bullish falling wedge.
The green and red dotted horizontals are the top and bottom of the Ichimoku Cloud.
The setup may work, it may not.
P.S. The best winner, is the quickest loser.
