RSXJ is rolling over after a huge upward move. It has broken down very longterm upward trend & recent support label. It also has Negative moneyflow divergence. We think it will decline further.
For ideal entry we would like it to re-test broken support.
* Trade Criteria *
Date first found- March 9, 2017
Pattern/Why- Trend/support breakdown
Entry Target Criteria- Break of $37.80
Exit Target Criteria- Momentum
Stop Loss Criteria- $40.73
Please check back for Trade updates. (Note: Trade update is little delayed here.)
For ideal entry we would like it to re-test broken support.
* Trade Criteria *
Date first found- March 9, 2017
Pattern/Why- Trend/support breakdown
Entry Target Criteria- Break of $37.80
Exit Target Criteria- Momentum
Stop Loss Criteria- $40.73
Please check back for Trade updates. (Note: Trade update is little delayed here.)
Trade active:
March 13th - Traded upward, hit entry criteria & tagged to EMA 5. Now wait & see.
Comment:
March 15th - Went up & retested trend line resistance from beneath. We would like it to decline from here.
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