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Trade the Bollonger Band Squeeze

TZA short term bounce

Chart Forum » Hilarius' Hall Of Fame » Put your "mouth" where your "money" is » TZA short term bounce

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ehmu
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Username: ehmu

Post Number: 68
Registered: 08-2010

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Wednesday, October 20, 2010 - 03:43 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



Before I discuss the trade---I have this good idea that anyone posting under put you mouth where your money is---start a separate thread for your trade, then you don't need to wade through the whole string to see your symbol.

Just bought a small positon of tza today, using the 60min charts.

Price rose above 34ema, mom above zero, rsi above 50, and W% above 50.

As confirmation regarding possible spread caused by short sellers, I looked at $VLE 60 min chart. Price closed below 34ema, mom below zero, rsi below 50 and W% below 50.

I also stand to gain on the currency trade, since canada didn't follow suit with the interest---our dollar is dropping in value against $US.





(Message edited by ehmu on October 20, 2010)




_____ n a m a s t e

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ehmu
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Username: ehmu

Post Number: 69
Registered: 08-2010

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Wednesday, October 20, 2010 - 06:16 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



first entry was at $22.62, then bought more at the close at $23.5 off of 5min chart playing bounce off of 34ema support and last previous 5min breakout support.

dollar last trade closed just above short term support, favoring higher open tomorrow.




_____ n a m a s t e

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billt
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Username: billt

Post Number: 427
Registered: 02-2010

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Wednesday, October 20, 2010 - 07:01 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



hi

I bought in last night as well.

Numerous indicators have pointed to a SPX top, as posted over on EWW.

Bought in at the bottom of wave ii on TZA.(@22.34)

Lots of buying off the 10 min & 15 min charts at the Ma crossovers....

Riding FAZ down as well....








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billt
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Post Number: 428
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Wednesday, October 20, 2010 - 08:10 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)



For those reading this thread, TZA is 3x inverse of the RUT (US Small Caps)

Interesting to note that US Financials and US Small Caps lead this correction south.

On RUT 60 minute note the divergence after the 711.43 was posted a few days back. Although SPX posted a new high, RUT didn't make it - normally a great 'tell'...

6 week trend line broken, retested the MAs, before a more comprehensive break at the close.

Looking for the MAs to get the bearish cross at the 60 min to confirm the correction.

Early days to put a count on it, but RUT appears to be in a 3 of iii set-up, so we will see if this plays out with a big gap at the open tonight...








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ehmu
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Friday, November 05, 2010 - 04:20 am:Copy highlighted text to 'New Message' boxEdit Post Delete Post Print Post    View Post/Check IP (Moderator/Admin only) Ban Poster IP (Moderator/Admin only) Move Post (Moderator/Admin Only)




ehmu wrote on Wednesday, October 20, 2010 - 07:16 am:

first entry was at $22.62, then bought more at the close at $23.5 off of 5min chart playing bounce off of 34ema support and last previous 5min breakout support.




stopped out yesterday, $21.4, down average 1.75 or 8%. Also lost on the $us, since it dropped about 3% since the 20th.




_____ n a m a s t e

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