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On the hourly (60-minute) chart interval, $EPI has just retraced to “undercut” its 20-period exponential moving average (20-EMA), which usually provides near-term support in strong breakouts. The ideal Pullback Buy Setup is at least 3 to 7 days in length (retracement from the high), with volume declining on the pullback, and orderly price action along the way. So far, this setup meets our criteria for pullback entry. Although we’d love to see $EPI pull back closer to the prior breakout level at $19.40 in order to establish an even lower risk position, we do not want to miss the next potential move higher when the bullish momentum of the recent breakout resumes. As such, we have placed $EPI on our official ETF Trading watchlist as a possible buy entry today.

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