Please keep in mind that this is a very short-term position that will require good risk management skills. Because it is a 3X leveraged ETF you will not be able to hold on to this as a long-term position. Our goal is to get in, trail our stops up according to the Fibonacci levels and then get out with a quick profit. The bounce we are seeing in the market right now may be very temporary, so be careful. Scaling into this new position is not a bad idea.
(Expand video to FULL SCREEN for best view of the charts)
I’ve also attached a PDF document for your review.
Have a great weekend.
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