Trendencies

BRZU Long Opportunity - Good R:R!

Long
Trendencies Updated   
AMEX:BRZU   Direxion Daily Brazil Bull 2X Shares
I'll keep it simple.

BRZU has been playing within an ascending triangle and is now near support - Easy R:R play with good potential to play out.

Appears to be nearing the end of a long-term downtrend in my opinion.

Thanks!
Comment:
As we can see the price has went below the stop I had placed, does this mean that the worst is yet to come? I do not believe so, however, I am keeping a close eye on this and will post an update as to when the reversal happens.

Thank you!
Comment:
$19-$18.75 seems to be an area of interest. I am going to ladder buys in starting now.
Order cancelled:
Well I dont think it can go much lower than $1.50 but it has surprised me already lol. Thank goodness for stop losses, this went down with a vengeance!

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