such a neat 2 bottoms, long term downtrend resistance is almost falls in to the same are of the neckline. set the alerts and wait!
you can read this chart like a book.. wait for the breakout from the box and add positions above the down trend line
just broke the well defined rectangle up and confirming the bullish bottom formation
textbook flag at bottom, can gain momentum above 164.00 resistance
neckline 164.90 almost identical w the previous bottom, waiting for the break out...
Bearish div in mom indicators, slide below the trend followers... sold my longs
we know how to play this, all we need is a bit of patience... breaks the flag up and we go all in
GOOG just breeched jan 2022 to date down trend resistance, remain long add above previous highs...
Buy into close for a quick bounce from the ST support levels
neat chart, dont get to see a breakout like this on 30y gov bonds very often...
higher dxy real rates spread increse => pressure on gold prices? bearish for across the board EM assets terrible news for etf managers china to start thinking about all the 1.3 bn usd worth of almost 0 yield US papers they hold imf and wb funding become more important => sharing policy making decissions with the west again .... for the sector, it means importance...
Overbought oversold signals are pretty important when entering a trade, i mostly use it to decide on the position size. but, it can be seriously misleading in strong trending markets and cause massive losses when used alone. you can see the massive rally btw 1997-2000 after RSI signaled overbought and kept making new lows...
i was lucky to spot the good entery level at 34,00s (see previos ideas posted) its been a good run and i felt the need to update the idea. intraday chart forming a bearish heand shoulders formation at top. also there is a decent flag formation at the right shoulder. the way i plan to play the chart is: although how bearish it looks dont get carried away and buy...
IT WAS A NICE RUN SINCE 2016 FEB BUT.... EM assets are under a lot of pressure, given the enviroment I think this is the best chart to keep it at top of the screen. Buy above 8.15 and ride it!