Something to watch for bigger picture as TZA daily is sporting
positive divergence on the daily MACD. When traders return
(along with volume) in January, should get an idea of their
intentions.
markplea - in regards to the daily TZA you want to see a clean
break and successful backtest of the downtrend line (20 day MA
area) followed by a 3rd bar or later higher. No specific
price level.
The bullish view could have RUT moving higher with the current
pullback (that started yesterday) forming a higher low (maybe an
ABC down) with the current move up being wave B followed by wave C
down OR the pullback is complete and up it goes.
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TZA Daily
Posted by steve on 29th of Dec 2011 at 11:24 am
TZA
Something to watch for bigger picture as TZA daily is sporting positive divergence on the daily MACD. When traders return (along with volume) in January, should get an idea of their intentions.
Steve any potential levels for an initial move on a break out?
Posted by markplea on 29th of Dec 2011 at 12:34 pm
markplea - in regards to
Posted by steve on 29th of Dec 2011 at 12:44 pm
markplea - in regards to the daily TZA you want to see a clean break and successful backtest of the downtrend line (20 day MA area) followed by a 3rd bar or later higher. No specific price level.
The bullish view could have RUT moving higher with the current pullback (that started yesterday) forming a higher low (maybe an ABC down) with the current move up being wave B followed by wave C down OR the pullback is complete and up it goes.