Thursday, January 24, 2013

FAZ catching my interest

It was just yesterday that we looked at Financials and they were looking close to being ready, FAZ is my preferred choice for a trade of a swing nature or perhaps a bit longer.

FAZ gave the opportunity this morning and it's very close to that screaming signal and it has the longer standing base divergence which would be right here....


This is the opportunity this morning, note the volume at an easy to spot support level, but not a very big support level for that kind of volume.



This is a strong signal, not quite screaming, but close


This is going to be a screaming signal as it already is, it just needs to last a bit longer...

When the 5 min chart below looks like the one above, then I think I'd have to make a decision and I'm pretty sure what it would be. However there's more to high probability trades than one ETF, so I'm going to  do my rounds again.


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