Filling Out FAZ Equity Long

This is not an options trade, but rather a long in the equites only model portfolio, I may be a bit early, I may be right on time, but I'm going to go ahead and fill out the FAZ position in the longer term portfolio.

I'll be the first to admit this slight break of support is not much of a typical head fake move, but technician's almost always use the exact support resistance level. It's a little bit of a gamble, but this isn't using options and I have always been much more patient when it's a straight equity trade rather than an options trade.

 The 1 min was progressing along nicely and then jumped to a leading local high.

 The 2 min chart's trend overall is in line with the trend expectation.


 The 5 min chart has a nice long positive relative divergence, in fact its actually leading, I drew it in as relative just because I was marking a relative position from earlier in the week.

And the hourly is why I have more patience with this, this is an overall leading positive divergence on a long chart in a big area.