I do think there is an opportunity to look for a long trade in CMG
, has been a great trade for me week after week lately but this week it doesn't look like a trade...yet. Rather than getting in now and watching this one move lower, I am patiently waiting to see if price will hold above 683. With price now sitting around 684 the 60 minute chart looks promising but has not yet shown a trigger. I think a trader would be prudent to wait for cmg
to close today above 683 before an entry to the long side. Buying a call, debit spread or put credit spread look like options.