NAIL- an ETF of Homebuilders 3X leveraged
NAIL- is an ETF of Homebuilders; It is 3X leveraged. Price is up over 30% in the first two weeks \
of June. It is shown here on the 30-minute chart with the "Market Bias" indicator which shows
uptrends in green and pull-back zones in gray. Presently, price is pulling back - when the gray
colored trend indicator changes back to green, an optimal entry can be made.The ADX indicator
has topped out as part of the early pullback. When the ADX goes below 25 and then crosses 25
from below, an entry can be made. An ADX over 50 and rising suggests that it is too late for
an entry and not to chase but rather wait for a pullback.
Overall, NAIL's price is now in early pullback by the "Market Bias: trend indicator and the ADX
which shows now a decreasing trend directional strength. Price is more than one standard
deviation above the mean anchored VWAP which is an level that professional traders want
to sell from. Because of all of this I will wait for an entry on NAIL until a pullback is completed
and the uptrend bullish continuation is seen.
of June. It is shown here on the 30-minute chart with the "Market Bias" indicator which shows
uptrends in green and pull-back zones in gray. Presently, price is pulling back - when the gray
colored trend indicator changes back to green, an optimal entry can be made.The ADX indicator
has topped out as part of the early pullback. When the ADX goes below 25 and then crosses 25
from below, an entry can be made. An ADX over 50 and rising suggests that it is too late for
an entry and not to chase but rather wait for a pullback.
Overall, NAIL's price is now in early pullback by the "Market Bias: trend indicator and the ADX
which shows now a decreasing trend directional strength. Price is more than one standard
deviation above the mean anchored VWAP which is an level that professional traders want
to sell from. Because of all of this I will wait for an entry on NAIL until a pullback is completed
and the uptrend bullish continuation is seen.