People buy the VWRL ETF to hold it for the long term, therefore we want to know what are the best DCA buy levels to take position intelligently.
General insights:
- The uptrend is broken so we use the Fibonacci Retracement Indicator to pinpoint retracement levels.
- There is an upward trending channel since 2015 and the price seems to have returned moving inside the channel (see rejection of shadow at the upper bound of the channel and the 0.236 fibonacci retracement level)
- This indicates that the price might be heading for the lower bound of the channel to continue in the upward trending channel over time
-We look for extra evidence to predict price development, because the most accurate targets are where multiple pieces of evidence come together. Luckily in this chart we can combine evidence from 2 strong indicators:
1) the Fibonacci retracement indicator levels: The 0.5 Fibonacci retracement level is at 84.64
2) the trend channel: A bounce on the lower bound of the channel is expected between around 82.50
Therefore I expect that the most likely best buy zone is in between 82.50 and 84.64.
However, note that all Fibonacci retracement levels can be considered as buy levels for DCA, see levels and buy levels here:
0.328: 90.98
0.5 84.64
0.618 78.50
Happy trading!
General insights:
- The uptrend is broken so we use the Fibonacci Retracement Indicator to pinpoint retracement levels.
- There is an upward trending channel since 2015 and the price seems to have returned moving inside the channel (see rejection of shadow at the upper bound of the channel and the 0.236 fibonacci retracement level)
- This indicates that the price might be heading for the lower bound of the channel to continue in the upward trending channel over time
-We look for extra evidence to predict price development, because the most accurate targets are where multiple pieces of evidence come together. Luckily in this chart we can combine evidence from 2 strong indicators:
1) the Fibonacci retracement indicator levels: The 0.5 Fibonacci retracement level is at 84.64
2) the trend channel: A bounce on the lower bound of the channel is expected between around 82.50
Therefore I expect that the most likely best buy zone is in between 82.50 and 84.64.
However, note that all Fibonacci retracement levels can be considered as buy levels for DCA, see levels and buy levels here:
0.328: 90.98
0.5 84.64
0.618 78.50
Happy trading!