Friday, March 13, 2015

[UVXY] update

In the backlink I showed UVXY having broken the top rail of the 4th wave HT.  Now it is back on top.  Nobody knows if it will now collapse in a 3rd wave down to create a lower low but critical support is as shown below.  A sound bet would be to buy here and then set stops just below critical support because the loss will be so small that the bet makes sense to gamble on.  After all, when gambling, the only thing that matters are the odds...

This can still go either way.  The HT is not confirmed by the top rail breakdown but rather by the breakdown of the bottom rail.

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