FXI - Bearish Wedge - Go Short
Symbol: FXI
[X] Entry
Duration: Short Term
Direction: Go Short
FXI is the ETF for China. After having good success shorting this in the past couple months, I have been waiting for a good three to four weeks to do so again. Today it finally closed that big gap down and did so on light volume then immediately began to back down.
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What you usually find in these types of trades is that once a gap is filled, unless the contract immediately burst through it you usually get a retrace even if it might be eventually heading even higher. So, the opportunity is likely upon us. I did start the short on the fill of the gap and will look to trade around that position now.
[X] Entry
Duration: Short Term
Direction: Go Short
FXI is the ETF for China. After having good success shorting this in the past couple months, I have been waiting for a good three to four weeks to do so again. Today it finally closed that big gap down and did so on light volume then immediately began to back down.
. What you usually find in these types of trades is that once a gap is filled, unless the contract immediately burst through it you usually get a retrace even if it might be eventually heading even higher. So, the opportunity is likely upon us. I did start the short on the fill of the gap and will look to trade around that position now.
posted by Tat | 9:42:00 PM
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