Direxion Daily Emerging Markets Bear Bullish signal

Direxion Daily Emerging Markets Bear (NYSE:EDZ) is currently in an uptrend since February 2018 and has been working inside a Trend Channel.
Since the uptrend started, the price has tested the support line about 9-10 times.
All these tests were successful and the support line did reject the price. It means that the price is raising after every support line test.
Four times, the price moves from support line area to Resistance line area.
The first time was back on January 26th, 2018. The price moves from around 33 and a few days later on February 9th the price topped on Resistance line at price 48, which a rise in the price of 45%.
The second time was back on June 6th, 2018.
On this date, the price was testing support line at price 41 and three weeks later on June 27th, the price touched the Resistance line at price 55, which gave a rise in the price of 34% for 3 weeks.
The third successful test of Resistance line was on July 31st, 2018. At that day, the price successful tested the Support line at a price of 45 and 2 weeks later on August 15th, the price was climbed 29% to a final price at around 58.
The fourth and last time we had a successful test of support line and Resistance line was on August 28th, 2018. From that day the price raised from 48 to 60 within 14 days. The price topped at 60 on September 11, when testing resistance line the same day.

Now is the optimal time to go long, in case you are a risky trader. We would like to see a positive green candle and positive high volume before we go long on this trade.
Anyway, if we choose to enter this trade, we will set a Stop Loss at 48.00. This will secure your investment and still provide a great Risk/Reward ratio.
Also please remember that we are trading an ETF multiplied by 3. It is a leveraged ETFs seek a return that is -300% or +300% of the return of their benchmark index.
In other words, be careful and always work with Stop Loss on these kinds of trades!

Direxion Daily Emerging Markets Bear Bullish signal

Direxion Daily Emerging Markets Bear Bullish signal

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