juicyjeff420

FAZ is tanking, safe opportunity to jump on the bandwagon

Short
AMEX:FAZ   DIREXION SHARES ETF TRUST DIREXION DAILY FINL BR 3X SH NEW 21(R/S)
FAZ
37 views
1
faz
I was long on FAZ... until the only possible support (which I drew in green) broke. RSI is now testing that green line, and will probably...

1) show uniformity (if you don't know what this is, check out my account info)
or
2) hit resistance than bounce below

either way, FAZ should be shorted.
Not to mention... the RSI is hitting the red trendline. I know the trendline has only been developing for about 2 months but since the price action is so well defined, it's safe to take the RSI signal. Remember, anytime you use an RSI trendline that is not that well developed, there's more risk, but also much more potential reward since less people have figured out this market insight.

Comments

Home Stock Screener Forex Screener Crypto Screener Economic Calendar About Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Private Messages Chat Sign Out