The newsletter mentioned closing out the EUO trade (short Euro)
due to divergance and a rising wedge pattern. Here are the
Euro Mini Futures (4 hr), which are opposite the EUO chart and may
provide an upside trade when the wedge is broken and the
stochastics break above 20. Those without futures can look to
the Euro EFT.
If the EUO is/has broken down out of the bearish rising wedge
and going to pullback, would it make sense to invest in the
opposite ETF, ULE, the 2x bullish euro proshares fund? May
need to see the MACD and RSI turn up, and the 60 period stochastics
bounce off 50, also look at 60 min and other charts, the one
above is a daily.
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Euro
Posted by oops1e on 25th of Aug 2010 at 10:10 am
The newsletter mentioned closing out the EUO trade (short Euro) due to divergance and a rising wedge pattern. Here are the Euro Mini Futures (4 hr), which are opposite the EUO chart and may provide an upside trade when the wedge is broken and the stochastics break above 20. Those without futures can look to the Euro EFT.
ULE-opposite of EUO
Posted by sue2 on 25th of Aug 2010 at 10:39 am
http://stockcharts.com/h-sc/ui?s=ULE&p=D&yr=0&mn=7&dy=0&id=p67851542465
If the EUO is/has broken down out of the bearish rising wedge and going to pullback, would it make sense to invest in the opposite ETF, ULE, the 2x bullish euro proshares fund? May need to see the MACD and RSI turn up, and the 60 period stochastics bounce off 50, also look at 60 min and other charts, the one above is a daily.