When you see a clean Stochastic pattern like this setting up you have to take it. A perfect V shaped patter. The entry occurred when the Stochastic crossed over at 2:15pm. The price peaked at $34.98, approximately 80¢ in less than an hour, a big move for TZA. Its a little hard to see on the chart, however, when we took the trade, that green trigger candle was the 5th one in a row that had pulled down below the 8EMA line. A secondary confirmation to take the trade.
4-1-11: Classic V Shaped Stochastic SetUp on TZA
10 Sunday Apr 2011