The DXY has been super strong lately and lots of folks are wondering where the final target is. One way to do this, is to view a leveraged currency ETF to try and identify patterns. The ETF leverage amplifies the movements you might otherwise of missed. Classic Inverse Head & Shoulders on EUO. EUO is a -2x EURUSD ETF that you can trade in the stock market....
im a beginner just tracking lines and i saw some resistance at 29.
Scal into the long position to day at markt open.
In a volatile market like we’ve experienced the past week, short-term traders can enjoy large gains in just few days. The money put in my position (XPH-EIDO-EUO-XBI-BIB) on last monday is at work. I provide details on exit price in the next few days
I am cutting my teeth in EW counting and would welcome any comments. With the USD in wave V of V, we can also expect the EUO to be in wave V of V as well.
Monthly supply level here. 2x leveraged Euroshares. Sell Short: 22.68 Stop loss: 23.03
I thinkthat the gap at 18.40 will be closed now.