Trade Idea FXP (long)

China's manufacturing PMI printed yesterday sub 50, which is recession, combine that with rampant inflation and you have a stagflation scenario. In other words, China's boom story is coming to a rapid end.

One of the charts recently highlighted and a long term favorite has been FXP (UltraShort China 25).

Here are a few charts showing FXP shaping up for a long trade.

 Positive divergence on the 30 min 3C chart

 Positive divergence on the 15 min 3C chart

Positive divergence on the 10 min 3C chart

I'd expect the next swing leg up to take FXP over $30.00 I also feel this will soon be a good long term candidate.