Always looking for high gain plays, especially since I'm convinced the market is going to melt up for 2 more weeks.
Looks to me like EWZ has one more leg for the double top. This is not currency hedged so the dollar weakness helps as well. Into some Jan 25 calls with my GM profits.
Looks to me like EWZ has one more leg for the double top. This is not currency hedged so the dollar weakness helps as well. Into some Jan 25 calls with my GM profits.
Note
Can't plot USD/BRL on this site, but it's got a massive head and shoulder pattern going. Brazilian real might be on a upswing for up to 6 months. Wirth taking a look:investing.com/currencies/usd-brl-chart
Trade closed manually
Took the small profit this morning and closed it. Not feeling very bullish anymore.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.