Tuesday, March 15, 2011

UUP Trade Idea (long)

This is a trade with minimal risk and shows an edge.

Here's UUP at support, chances are good that it will briefly penetrate support and create a false breakdown. However, potential stops are very close so the risk is not so great.

Every chart below: 5,10,15,30 and 60 min all show positive divergences and a range that UUP seems to be accumulated at.


Here's that range I mentioned


This is a trade I see an edge in, I also see minimal risk. If we get a downside break, we can check it for a false break down. Otherwise, this is a trade I would consider right now.

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