We recently profited from the sale of two ETF swing trades on the long side of the market, $ FXI (China) and $ EPOL (Poland), and we continue to monitor select international ETFs for potential buy
entry on a pullback.
Over the past four days, we have been tracking the inversely correlated ProShares UltraShort Oil and Gas ETF ($ DUG) for a possible long
entry on pullback into the 20 - day and 200 - day moving averages.
Not exact matches
Although we would prefer to enter $ KOL as a
pullback buy
entry, a breakout
entry on the next move above the horizontal pivot may be in order if the ETF continues to hold near the highs of its recent range.
We set a buy stop above resistance of the short - term downtrend line that formed during the
pullback, enabling us to buy $ MZOR at $ 45.11
on the second buy
entry.
Therefore, our
entry was
on a
pullback from the highs, rather than a bounce off the lows:
The original
entry was based
on a
pullback from a strong breakout.
One ETF
on our radar screen for potential
pullback buy
entry is iShares Nasdaq Biotech Index ($ IBB).
Also, you may want to review how we gained 19 % in just 6 days with $ JO, as the ETF may again be setting up for potential buy
entry on its current
pullback (subscribers of The Wagner Daily newsletter will be notified of our exact buy trigger, stop, and target prices if / when we re-enter $ JO).
We are now monitoring $ FXE for a potential low - risk buy
entry point
on a
pullback, especially if the price action can test the rising 20 - day exponential moving average, along with forming a «higher low.»
On the other hand, if you are already confident with finding your own
entry and exit points for breakouts and
pullbacks, but just need a quick and easy way to scan for the strongest stocks each night, the new MTG Stock Screener is more suited for you.
If you wish to learn more about our proven system for buying
pullbacks of breakout stocks, check out this September 10 video
on our blog that detailed our recent
pullback swing trade
entry into $ YELP (which is still open and presently showing a gain of 30.2 % since our
entry).
For this
pullback entry on our ETF trading watchlist, regular subscribers of our Wagner Daily swing trading newsletter (details here) should note our exact
entry, trigger, and stop prices based
on our technical trading strategy.
The primary thing you are going to focus
on is intraday
pullbacks, I am talking here about the 4 hour and 1 - hour chart time frame with price action signals to confirm
entries.
For this momentum trade setup, we are looking for potential buy
entry on a slight
pullback from the March 4 move (the price must drop to the exact buy limit order listed in today's Wagner Daily in order to trigger the trade).
Scenario C is a slightly deeper
pullback to the 20 - day EMA, which would be the most patient
entry, but one that also presents the highest risk of missing out
on the trade.
We will be watching this ETF closely for a possible buy
entry on an undercut of the 10 - day moving average or a
pullback to the 20 - day EMA.
On the other hand, conservative traders should wait for a bearish
pullback towards the price zone of 1.3370 - 1.3400 where a valid buy
entry can be offered.
On September 10, we walked you through our recent
pullback entry into Yelp ($ YELP), which we are still long in the model portfolio of our Wagner Daily newsletter.
In this video, Wagner discusses the
pullback entry, which is used to buy a steadily uptrending stock or ETF that was not entered
on the initial Relative Strength Breakout setup.
As such, we began stalking $ TRUE for a potential
pullback buy
entry point as it pulled into major support of its prior highs, as shown
on the weekly chart below:
I find that the supplementary rules help to identify more complex
pullbacks like a wedge, but the a better
entry signals can usually be found based
on the chart pattern rather than waiting for a MACD buy signal.
Our views remain unchanged from recent weeks; we are looking to get long Gold
on a price action signal after a
pullback or a blind
entry at 1306.00 key support level.
The primary thing you are going to focus
on is intraday
pullbacks, I am talking here about the 4 hour and 1 - hour chart time frame with price action signals to confirm
entries.
Ideally, we will look to buy
on a
pullback to support at 1.2828 — 1.2755 with a price action
entry confirmation signal.
This Chinese retailer is growing
on three fronts, and a recent
pullback in shares provides an attractive
entry point.