Many traders made a lot of money trading FAZ....a 3x inverse financial ETF. FAZ's March high was at monthly R2 pivot(blue circle at the top of the chart) in early March and now has fallen to under $20 from $112. Next support is $13.50- $15.00 on the Monthly S2 pivot(blue circle bottom of the chart). Monthly pivot points work great for swing traders! They show traders where monthly resistance and support is.
Thursday, March 26, 2009
FAZ 3x financials stock
Many traders made a lot of money trading FAZ....a 3x inverse financial ETF. FAZ's March high was at monthly R2 pivot(blue circle at the top of the chart) in early March and now has fallen to under $20 from $112. Next support is $13.50- $15.00 on the Monthly S2 pivot(blue circle bottom of the chart). Monthly pivot points work great for swing traders! They show traders where monthly resistance and support is.
