CHIQ has formed a nice inverted H&S on this daily timeframe Currently CHIQ is within a nice bull stretch and is looking to find support and this is the pattern that can provide that Left shoulder, Head, Right Shoulder Bounce off the downtrend line (shown with up arrow)
Please DYODD as usual as this writing is merely my opinion and is to be taken as purely educational or entertainment, if you like. Your money is your money and nobody should tells you what to do! Remember that ! Now, with the last hurdles that China is now working on - the reopening of China borders with the abolishment of the Covid regulations. We can see from...
CHIQ has formed some interesting structures within the dominant Fibonacci circle Triple bottoms can be seen Right now price can be seen to be in an area which could possibly be seen as a place for one of these triple bottoms to occur (in green bars pattern) leading to the climb out of 3.618
From the beginning of 2020, emerging markets, and specially China, had been really outperforming. The sector has taken a 12% correction from its high on February 16th. Which was coincidental with the past sell signals from the drawn channel. We have tested the 50sma, which has worked as the lower channel trend line in this system. Risk-reward-ratio is...