Sunday, March 2, 2014
As dissapointed as I am about the ongoing events in Ukraine and what real implications it might have for the people there it is an interesting development from a charting standpoint. I was watching the chart of RUSS on Friday thinking this chart is starting to behave as my favourite pattern. It is a reverse leveraged chart and it's starting to produce a peaky pattern. This is where good money can be made. But it also looks like this chart wants to go higher before it turns and for that to happen it needs news. Well news came during the weekend that Russia is preparing to possibly attack Ukraine. Exactly what will happen no one knows and I hope for the best. RUSS is now a top priority ETF that I will watch closely for the right time to enter a short position. I also wanted to show a chart with a long time frame to show what extreme moves could be possible in RUSS. Patience and limited size bets are essential ingredients as always in order to continue to make money on trading.