Another thought on USLV

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.