Here is my prior post on USLV. Today I want to zoom in on just the big pull back that has taken place since early-mid July. Look at how that orange upper trend line was respected all that time until just the past 3 trading sessions. Then it broke out with a strong gap and is now back testing. A rapid move to a higher high will likely confirm the trend change IMO. At the very least we should see an a-b-c back up to the $45.50 range (prior 4th). Just as likely and perhaps more-so is a move back up past the recent high of $56.50.
While the wave count looks good for the action described above, never fall in love with a trade. Get stopped out without complaint if it falls below $40 folks. There will always be another good entry point! This is how to beat the odds at the casino. This is how to leave your emotions out of the trade.
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