Idea - EWW, Feb 13 (short)
Updated
As detailed on the chart, the trend has continued for some time, however price action may go back to the downside and move in our favor. If you entered on Feb 6th with the original cross signal, you'd still be waiting for the trade to do its thing; waiting to enter now basically gave us a pullback in our favor.
Not sure I'd enter a position short here, but the setup looks interesting.
CPI data comes out in a few days, and EWW is strongly correlated to the broader US market.
Not sure I'd enter a position short here, but the setup looks interesting.
CPI data comes out in a few days, and EWW is strongly correlated to the broader US market.
Trade closed: stop reached
Unfortunately, this would have been a losing trade all around. We should have entered Feb 6th, but you would have lost by the 13th; entering on the 13th the price still moved against us.Side note: EWW was up 17% YTD! Very strong performer and I still want this long term.
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