ZSL/JDST: Potential Long OpportunityZSL/JDST pair is signaling a Long position at the close of yesterday, supported by multi indicators, suggesting a promising opportunity.
ADX : Indicates no trend at present, and a quick look at the daily chart confirms it.
Correlation : remains very high in the last few weeks.
Close price : closed below lower BB.
Historical test : I would be happier with more historical opportunities in the last few months to test, but generally it seems okay.
ZSL trade ideas
ZSL SHORT SILVER with an INVERSE ETFZSL provides a short play on silver as an ETF using futures diversified for times to expiration.
At present, it has a strong up and scores a 6/8 by the Mark Minervini criteria.
A Doji candle a few days ago signaled the end of a brief pullback and so an entry point.
XAGUSD as shown on the thick red line is trending downward.
The RSI oscillator in conjunction with its IIchimoku Cloud shows strong RSI candles
above the cloud.
All in All, ZSL provides yet another way to play the weakness in silver similar
to DUST for the spot gold price action .
ZSL Buying PotentialFor some while now, we've seen ZSL making it way down, but for the past 460 days, institutions have been accumulating their orders and looking to take the asset up.
Confluences:
- We see a steady decrease in volume immediately after price reached selling climax
- Also after so many days of accumulating, institutions gave us a nice shakeout/spring which also produced huge volume, before the rally that produced our SOS(sign of strength)
In this setup, we have volume aligning with our accumulation schematic, which makes it a good justification to enter long into the asset.
Furthermore, according to Richard Wyckoff; the number of hours/days/weeks it took for an asset to accumulate will most times determine it's explosive moves.
I hope this helps someone.
If Silver Closes the Weekly below 22.6 Then This Will Rise.Silver is looking to Bearishly close the weekly below $22.6 and if it does then i will be buying call options expiring in a few months for this inverse ETF of Silver.
However if silver can get a bullish weekly HA candle Close above $22.6 then i will look to trade silver bullishly.
For now i have only lightly gone into the bearish trade for silver but will get in more if i get candle close confirmation below $22.6.
ZSL support zoneLooks like the 200 hullma will hold for now for 45 min.
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
Take a look at ZSL -- very abnormal activityVolume just spiked and look like there will be a breakout.
ADX line shows that the down trend is over for ZSL near term. .
Disclaimer, this is only for entertainment and education purposes and doesn't serve by any means as a buy or sell recommendation.
Personally I hold both long term long positions and occasionally short term short position, for disclosure purpose.
ZSL enters Uptrend as Momentum indicator ascends above 0 levelThis indicator may be signaling that ZSL's price has momentum to move higher, since its current price exceeds the price logged 14 days ago. Traders may consider buying the stock or exploring call options. I backtested 93 similar cases where ZSL's Momentum Indicator exceeded 0, and 77 of them led to a successful outcome. Odds of Success: 83%.