Posted by manson805 on 31st of Aug 2009 at 10:21 am
Currently right on the 20(MA) so it's at support. That doesn't
mean that it has to hold but....If it breaks below the 20(MA) and
then backtests it would give you a trade. Otherwise I'd be waiting
until you see a situation where it returns to resistance as a
opportunity to go short. You could go long right here but I
wouldn't advise longs at this time.
I'm possibly going to sell half of my short position right here
and then wait till we get back to resistance.
Trying to short at resistance is not the way to go. Wait for it
and don't get emotional.
Happy trading
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RUT : Need direction on RUT
Posted by generic on 31st of Aug 2009 at 10:07 am
What is a good trade to get in for RUT.
20 day MA
Posted by manson805 on 31st of Aug 2009 at 10:21 am
Currently right on the 20(MA) so it's at support. That doesn't mean that it has to hold but....If it breaks below the 20(MA) and then backtests it would give you a trade. Otherwise I'd be waiting until you see a situation where it returns to resistance as a opportunity to go short. You could go long right here but I wouldn't advise longs at this time.
I'm possibly going to sell half of my short position right here and then wait till we get back to resistance.
Trying to short at resistance is not the way to go. Wait for it and don't get emotional.
Happy trading