iBankCoin
Joined Nov 11, 2007
1,458 Blog Posts

Russian ETF: Nice Entry Setup

This is one of my favorite setups. I would rather play these than try and time/anticipate the breakout.

Notice the pivot point support, the low RSI(2), and today’s candlestick. It does not get much better than this.

Oddly, Stockcharts has started auto-printing that little dotted line, the one right above today’s candle. I wish someone would tell them to stop.

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7 comments

  1. BOOMER

    is that line the day’s open? or HOD?

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  2. bill

    hi wood how about buying call options for june 55 for 2.25..will that replicate your strategy.. did u test u r method with options

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  3. Woodshedder

    Boom- your guess is as good as mine.

    Bill- my entry into this ETF would be for a trend-following setup, but yours may have a different purpose.

    I have not backtested this style of entry, and I rarely trade options. For this setup, RSI(2) is just one component. The pullback to the pivot, volume, etc. all have to be considered.

    To be clear, I would enter this ETF with the idea of holding it longer term, possibly through several swings, adding on dips.

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  4. Casey Ryback

    Not to mention the Russian story. That nation is feeling quite spry these days. They did a missile march recently; feeling those juices starting to flow again.

    Kicked Rocco’s face around pretty good too

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  5. Gunners

    Casey mother fucking Ryback is on this site?

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