UCO a crude oil ETF LONG
UCO popped in April and then dropped into a consolidation in May and June where
it set up a base shown by the POC line on the volume profile. Once over the POC
on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210
combination the bull trend began. The dual time frame RS lines in the 60s suggest
more to come. I am trading UCO and similar oil-based instruments including USOUSD
or forex in the near term until I see signals of a topping that are not yet evident.
it set up a base shown by the POC line on the volume profile. Once over the POC
on July 6th on the daily chart coinciding with a golden cross on the HMA 56/210
combination the bull trend began. The dual time frame RS lines in the 60s suggest
more to come. I am trading UCO and similar oil-based instruments including USOUSD
or forex in the near term until I see signals of a topping that are not yet evident.
Trade active:
Price up 2.5% Stop loss reasied over entry price so risk is off.