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Lender Looking for a Breakout (EZPW)

could breakout despite inflation worries
 
   
     
   
 
FEB 13, 2024
   
SCOTT WELSH’S TICKER TALES
Lender Looking for a Breakout (EZPW)

After what has seemed like a long bull rally, some cold water has finally been poured on the hot market.

The CPI number came in higher than expected.

That means inflation could still be a problem. And that means the Fed may not lower interest rates anytime soon.

And that’s not good for this recent bullishness.

However, there are some stocks charging up toward a breakout level anyway.

And one of those is EZPW.

Here’s the chart:
 
 
 

For many weeks, and especially in 2024, EZPW has been bolting up toward a new high.

If it breaks through $10.68, it could make a nice move.

We’ll keep an eye on it.

Happy trading,
— Scott Welsh

P.S. As a reminder, these plays are based on my longer-term Weinstein Stage Analysis method. The charts above use weekly candles and a 30 week simple moving average. For details on this method, see my explanation on this Ask The Pros episode starting at timestamp 20:45.
 
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Key Levels and Our Next Big Opportunity
 

I hope this message finds you well and ready for another week of strategic trading insights. 

Last week, I highlighted a potential buy setup for USD/JPY if it broke a key level.
 
 

I'm thrilled to report that not only did this break happen, but it also led to a fantastic trade for those who took advantage.

This serves as a perfect example of the strategy we've been discussing: identifying key levels and making trades based on those signals.

This approach has proven time and again to be highly effective.

By focusing on just a few well-chosen trades each week, you can maintain a high win rate without the need for excessive trading or chasing large profits.

Remember, achieving a steady gain of 1% per month can lead to an impressive 12% annual increase in your trading account. This is a remarkable success rate that can significantly scale your account over time.

I also want to touch on the EUR/GBP trade we've been monitoring. As anticipated, it's currently moving sideways.

While it might seem uneventful, it's a prime example of the importance of patience in trading. 

We're waiting for a breakout to the upside, and based on experience, these patiently awaited trades often prove to be very rewarding.
 
 

This week, I'm excited to share a new setup that I believe has great potential: the CAD/CHF. 

On the weekly chart, we've observed a breakout to the upside.

My strategy is straightforward: I plan to go long on CAD/CHF, buying on any pullbacks. 

This method has served us well in the past, and I'm confident it will continue to do so.
 
 

In conclusion, our strategy of trading based on key levels, combined with patience and a measured approach to trade frequency and size, continues to be the cornerstone of successful trading.

Keep an eye on CAD/CHF this week, and let's capitalize on this opportunity together.

To Your Trading Success, 

— Casey Stubbs
 
   
 
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