Faz has found support here at the 50 fib. I'd like to see it hit a lower low than green w3 here and then bounce above green 4 again to use as a buy signal. Another common pull back point would be the 61.8 fib but that is not my primary count here.
Thursday, February 18, 2016
[FAZ] update
The previous post on FAZ was back in September of last year and that bottoming call turned out to be off by one wave. Since then, however, FAZ has put in a pretty clear 5 up and is now likely near the end of the retracement into wave 2. If this count is good then FAZ targets the low 80s at this point and if FAZ is going up so likely is UVXY.
Faz has found support here at the 50 fib. I'd like to see it hit a lower low than green w3 here and then bounce above green 4 again to use as a buy signal. Another common pull back point would be the 61.8 fib but that is not my primary count here.
Faz has found support here at the 50 fib. I'd like to see it hit a lower low than green w3 here and then bounce above green 4 again to use as a buy signal. Another common pull back point would be the 61.8 fib but that is not my primary count here.
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