📌 The beauty of Korea is revealing itself right on time... the breakout is difficult to maintain as can be seen on the yearly close, the slingshot which turned out to a correct play for buyers has unlocked the potential for a major rally in 2021. Capital has its eyes on Korea (and a few others) for the advantage in its currency (KRW) and economic mobility across...
CUrrency looks like it got rejected by resistance, should whipsaw here.... hopefully down next week.
When trading foreign index ETFs like EWW, EWY, EWZ, or TUR, you gotta pay attention to the currency trade as well. The funds are NOT hedged against currency which means you're playing both the index and the currency.
You can trade these ETFs to take advantage of...
EWY posted the same pattern as it did before the last 2 big drops. Entered into some puts today for next week.
There's still room for it to go hit resistance and ATH, the 2 lines I've drawn. If it goes up from here, look for a similar pattern before shorting.
I'm bearish for Monday, but who knows, they can do another vaccine pump, 3 weeks in a row, lol.
Note,...
Korea isn't being hit by COVID at all, but they're still looking at deflation and their GDP is down....
Yet we're approaching ATH. If the market goes up next week, I'm buying some puts on Wed.
It's an election year. War tends to keep presidents in office. Every single president picked an enemy during reelection year. There must be allies and foes. China is the foe. Korea is the allie. You need an asian hub and manufacturing partner. You need korea.
Up 1.8%, the breakout here is clear for the EM as I called 3 weeks ago. This was assisted with Asia slowing in 2017/18. Asia looks better at this point because Asia technically slowed down before the West. !THD and !IDX are good longs and I will be taking them.
13:19:40 (UTC)
Tue Jul 28, 2020
KOSPI Composite index (KOSPI) is in perfect impulse cycle in 4 hr time frame made from the bottom made in Corona Pandemic. The fifth wave is in ending diagonal structure, which should probably result in sharp decline. So stay bearish with stops above 2240 from current level as 2nd wave of A in ABC zigzag cycle. This is the perfect set up as world market also in...
Sometimes, when your life is too routine and the things you are exposed to are more or less the same, you become complacent. Go to work, come home, cook dinner, play games, sleep. Repeat and rinse.
In trading/investment, it can be the same as well. If you stick to your own local markets, the companies that are very familiar with (strong brand name, you are the...
