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[/et_pb_text][et_pb_text _builder_version=”4.12.0″ _module_preset=”default” global_colors_info=”{}”]Alright folks, I had a question from a member regarding a position and Ew, z. This is a position I am long ew ZZ iShares Brazilian ETF. And it is a position or area that I got it right around in this area, perhaps I was a little earlier, maybe not but about breakeven on the trade. But I’m actually in this with options. So I’m up on the trade. So we got in first tat stab around here, this 2975 Mark, a little bit early from a technical perspective. See, we have a longer term downtrend line here, pointing lower also in the midst of a 123. So we didn’t really have any of those confirmations, we did get that break above the trend line, which then triggered that one to three bottom over here. But then we traded back down here into this longer term support structure that we identified going all the way back here in 2020. So now that we came back down for that retest, we kind of got a double bottom. Now, back above the trend line here and holding as of today, s&p Of course, up about 60 points here at 4600. So that has carry e WC as well as the other ETFs and country specific ETFs as well. But we’re also getting some divergent signals. So you can see as we traded down here into this area of structure, the zone, we got these divergence buy signals here, back in early November, roughly about 30 days or so ago. Now we’re getting renewed divergence buy signals, again, on this trend line break, which is a good sign for the position. Now we don’t have any divergence signals on the weekly we’d be looking for that over here, I would not be surprised if we do get those soon, it may take another push lower may not. But you see the momentum indicators or Momentum Oscillators are starting to point to the upside and we get divergent signals on the higher Time Frame such as weekly monthly, they certainly hold some weight, in particular over those over the law are the shorter timeframes. So regardless, I like this trade. I am long I am in it. Initial races are going to be below the swing lows here below 2027. First target is going to be at 34 Event 3675. So we’ll see how this one plays out.[/et_pb_text][/et_pb_column][/et_pb_row][/et_pb_section]
