I thinkyou nailed it perfectly...
1.6 was the old low where boomed from last Nov... 1.4 proved good support earlier this month hence the 10/30 day MA cross'n'pop...
Agree with your strategy completely and would only add keep in mind the markets MAY be turning down so all smallcraps will likely see added pressure but this looks good IMO and I will also enter @ 1.6 if there are a few sellers today as the US had a big drop so we will likely follow...