TZA formed a rounded bottom (on the 30-min chart) while showing a $28.50 resistance level. Price gapped above this resistance level this morning and consolidated without giving up much of it's move.
It looked like it could run quickly but coiled into a triangle, ending in an NR7. A break of this triangle coincided with a "First Cross" entry (green dot in sub-plot).
The setups I include on this blog are used in conjunction with the 3/10macd and the criteria I ascribe to it as a way to alert me to an existing condition of price. The key concept to take away from this blog is that I try to anticipate what will happen on the higher time frame by using a faster time frame to trigger the trade setup. I do not trade a "system" I use two indicators to clue me in to price conditions. Please read the Disclaimer located in the sidebar of this site. I can be contacted via email at firstname.lastname@example.org
I am always open to questions, comments, or suggestions on how to improve this blog.