Long Trade Idea | $RSX Russian ETF

JoshWinter
JoshWinter

This ETF is of Russia and it looks to be breaking out to the upside, I am looking to buy some long call spreads/verticals on this ETF to get long. I am looking to use options with 57 DTE for my strategy. Below is the chart. #RSX

Post edited by JoshWinter on
Always a Student. B)
33.png 76.4K

Comments

  • thinkortrap
    thinkortrap
    Posts: 11

    Long RSX i would think would be partially correlated to long WTI.

    It is a nice chart indeed. If Oil goes to 45's this could be a failed breakout.

  • JoshWinter
    JoshWinter
    Posts: 442 edited August 24

    Yeah before I went long I would wait for retest of the down trend line and then if it holds would enter a long trade with long calls or call spreads. Yeah Russia is an oil country so they benefit from higher oil prices but I am bearish oil so also going long this can act as a pairs trade with OIL Shorts.

    Nice discussion. Daily charts can allow ideas to build up and brew and we can update one another on the forum with our thoughts and new charts and analysis.

    Post edited by JoshWinter on
    Always a Student. B)
  • JoshWinter
    JoshWinter
    Posts: 442
    RSX long worked well. @thinkortrap
    Always a Student. B)
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