TNA trade ideas
TNA april 30// go shorttendency about to be corrected, lower numbers are to expcted... i'm going short.
Russell 2000 - Long playPrice stopped (1) right at Pivot S1 and (2) just above Fib 0.876. RSI is also aligned with previous bottom. If a multi-day uptrend happens from here, the 3x ETF will gain more than 3x by the end of the trend due to positive compounding. If choppy volatility instead continues in both directions, then holding IWM would have been the better bet. Survey: Which would you buy here - TNA or IWM?
TNA - Buy and hold to $130-135The third major buying opportunity of this security's life is now. If the coming advance mirrors the previous advance, then $130-135 should be hit (see the two back-to-back Fib drawings). This is a monthly chart and the security is volatile, so expect plenty of choppiness along the way.
TNA longLong TNA from $53.30 (full position) Reversal day yesterday signaled short term low and closed with a tail candle, today we are retracing the tail. Nice buy setup.
Buying opportunity? The uptrend channel is on a massive breakout, seems to be a buying opportunity. We are seeing a large amount of buy volume, which is bullish.
Also notable, the RSI breached 30 yesterday. Today it has rebounded and now 30 is acting as a new support.
Long at 68.85, sell at 78.0, stop loss at 65.00.
**Disclaimer I am an amateur trader and I just want to record my own predictions. So take what I say with a grain of salt.
TNA 65 area on weekly needs to holdWill be interesting to see if this area holds. If it can, then it might be an area to get long, but market is very spooked right now.
TRIANGLE Breakout on TNA - Long Opportunity Bullish breakout on TNA - Price is within an ascending channel and forms a good triangle pattern. We are really close to breaking that triangle. I advise watching for a long opportunity. However, be aware of political/commercial tensions that could bring the markets down easily.
IWM-strong reversalLooks like the bears got trapped in the flush below 200dma on $SPY. IWM strong and encouraging for the bulls.
$TNA W,DW: Bearish Div. behind, w/ TP touched, RSI poised to cross up 50 and to confirm nw uptrend
D: overlap between wkly suppt and dly rebound for validation of Bullish DIv., back to the wkly target
Over dly target, following trend w/ fibo for next tp
