I cannot dispense actual trading advice right here but let's list the evidence:- Resistance breakout failure
- Divergence in On-balance volume
- Broken trend line
- Downside breakaway gap
Tuesday, April 20, 2010
Quiz on Technicals
Dovetailing with Monday's Shanghai chart in the newsletter, check out the Hong Kong ETF. Are you a buyer or seller and why?
I cannot dispense actual trading advice right here but let's list the evidence:
I cannot dispense actual trading advice right here but let's list the evidence:
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2 comments:
Your blog is very interesting.
Thank you.
...my blog:
forex chart analysis and a cat
A seller--even though I think the markets world wide still want to go higher!?
I like the trade for all the reasons you state in addition it comes with a clearly defined risk, a stop over the old highs. Just as importantly the US markets are very close to printing .618 retracements across the board. Generally speaking a consolidation should take place around this level further allowing Hong Kong to work to the downside.
This is also taking place within the confines of a possible massive top forming since last July. However massive tops that fail are simply consolidations for major moves to the upside. Either way I think the risk reward is certainly worth the trade.
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