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PontusTrader
May 21, 2015 12:47 PM

TNA Short Opportunity Setting Up Short

Direxion Small Cap Bull 3X SharesArca

Description

Two very strong resistance cues:
(1) you have the former support turned resistance line
(2) you do not have a lot of room for price to advance if it does poke through the resistance line

Here is what I am looking for:
(a) price to breach resistance line to the upside
(b) price to pop aggressively above the upper daily bollinger band
(c) harvesting of the late exuberant bulls before a significant decline
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