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18 long · 9 short - tap to open

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18 LONG

9 SHORT

3 Bar Set-ups & Analysis1 / 84 overnight

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IWM

$296.22

+1.72%

◌ WAITING FOR THE BREAK◐ NO EDGE PAST TODAYformingPull up the chart ▸

Overnight 3 bar (3:00 AM candle)

L $295.87·H $298.20

LONG on break ▲

Entry $298.20 · Stop $295.87
Target $302.86

SHORT on break ▼

Entry $295.87 · Stop $298.20
Target $291.21

▲ Breaks the TOP → CALLS

Ends the day a winner: 57%
Reaches the full profit target: 21%
Once you are in, the price will often move about $0.75 against you before it goes your way. That is normal. Only get out if it hits $295.87.

⏱ When to enter

After the break, the price usually pulls back first before it really moves. That pullback starts within the first 30 minutes, and 3 times out of 4 it is over within 2 hours.

70% of the time, the price comes back to $298.20 after the break. Best move: place your order at $298.20 and let the price come to you instead of chasing it. If it takes off without coming back, let it go. Do not chase. There will be another set-up.

⚡ Swing or day trade?

Coin flip after the close (52% keep going). Safer to treat it as a day trade.

📅 Which expiration to buy: Holding overnight is a coin flip here, so plan to be out today - but buy at least 1 week out anyway. The extra time is cheap insurance if you end up holding.

Based on 598 similar trades

▼ Breaks the BOTTOM → PUTS

Ends the day a winner: 56%
Reaches the full profit target: 21%
Once you are in, the price will often move about $0.84 against you before it goes your way. That is normal. Only get out if it hits $298.20.

⏱ When to enter

After the break, the price usually pulls back first before it really moves. That pullback starts within the first 30 minutes, and 3 times out of 4 it is over within about 1 hour and 30 mins.

74% of the time, the price comes back to $295.87 after the break. Best move: place your order at $295.87 and let the price come to you instead of chasing it. If it takes off without coming back, let it go. Do not chase. There will be another set-up.

⚡ Swing or day trade?

Coin flip after the close (54% keep going). Safer to treat it as a day trade.

📅 Which expiration to buy: Holding overnight is a coin flip here, so plan to be out today - but buy at least 1 week out anyway. The extra time is cheap insurance if you end up holding.

Based on 615 similar trades

Open interest

127.3K

ADR (day range)

$4.61

ADR used today

3-bar range

2.33

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