The Philippines Stock Market ETF seems to move in perfect triple waves in a flat top and bottom range. It has just finished the B wave, so I have bought at market, 34.70, with a target of 40.00, the previous high, the same distance as A (7.40) and a round number as well. Stop at 33 to make the RR work, although cautious people would lower size or even entry and stop at 32.
It's an EM market, and the ETF is effectively currency hedged.
It's an EM market, and the ETF is effectively currency hedged.
Comment:
Consolidating a bit, but we're still in the trade.
Comment:
Not stopped yet. Could have taken some off +7%
Trade closed: stop reached:
Now stopped, market weaker than I thought in 2019
David Atherton