UGAZ is forming a daily pincher, see the house of pinchers board for more info if necessary. Also keep in mind that pinchers work on any timeframe, so whenever I spot a pincher I start watching and typically trade the hourly chart. The entry and targets on pinchers can vary depending on individual strategy, but I look for the -DI to go inside the bollinger bands for a first signal. That happened yesterday. I'm not in yet, I'd like to see the stochastics cross on the daily and the EMA8 to go above the SMA8. That would be confirmation enough for me. First target would be the EMA8 on the daily and assuming it gets through that, next target would be middle bollie on the daily.
There are many daily pincher charts to look at for examples lately. $RUT, SPY, CCL and RCL come to mind. XIV is a daily pincher that hasn't hit it's target yet. UGAZ is in the early stages of doing that imo
