RSI2 Pullbacks for February 7

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By Mean Reversion Trader | Published 02/6/2023 | Stocks | Unrated

RSI2 Pullbacks for February 7

Entry on a break of the previous trading day's high. Stop below the deepest pullback low. Fund managers like to trap pullback traders by triggering a pullback entry, so ignoring a first thrust can often lessen risk.

Long-side setups

AMX America Movil S.A.B. de C.V.
BHP BHP Billiton Ltd ADR
DNP DNP Select Income Fd
EOG EOG Resources
HES Hess Corporation
HSBC HSBC Hldg PLC
MANU Manchester United plc
MCK McKesson Corp
MPC Marathon Petro Corp
RIO Rio Tinto plc ADS
VLO Valero Energy

Entry on a break of the previous trading day's low. Stop above the deepest pullback high. Fund managers like to trap pullback traders by triggering a pullback entry, so ignoring a first thrust can often lessen risk.

Short-side setups

NONE

Dave Mecklenburg is the Publisher of TigerSharkTrading.com.

It should not be assumed that the methods, techniques, or indicators presented on these websites will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these websites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, Tiger Shark Publishing LLC, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.