Description
⋅ As RUSS broke its major downward trendline, a long position with a good reward to risk ratio can be entered with a tight stop.
Factors leading to the decision:
- The recent downtrend has been broken with very heavy volume
- The 20ma was broken, pulling in moving-average traders off the side-lines
- A recent low offers a perfect spot to put a logical technical stop
As always, respect a tight-stop. If it rips up, let it run and trail stops behind. Comment
⋅ Still hangin onto this trade... moved stop up to 12.50
Comment
⋅ Target reached. Options here include selling all, selling half and riding stops up or going full Rambo and hanging onto the position and raising stops
Trade closed: stop reached
⋅ Closed my position around 12 as this ETF is labelled to be decomissioned this week