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$EFA GOING DOWN
EFA is an etf tracking MSCI EAFE. There is an 18 month Head & Shoulder pattern that has been broken already with a nice bullish candle
Dear all, from the years long chart with weekly candlesticks we can see that after completing the 5/15 - 2/16 correction EFA made a triple top on April as well as September (twice) 2016 before finally breaking out in March of 2017 into a powerful 3rd wave that has since given way to a wave 4 down. With EFA currently at 66.17 Wave 4 has retraced near perfectly to ...
$EFA is cheap
First I found the channel. Then I took the swing high during the week of 3-19-18, that went out of that channel and place a vertical line there to find the next potential area for support as it intersects with the lower channel. And last week's candle held up around that area @ 69.05. Then I placed a vertical line on the previous swing low during the week of ...
One way the last 11 years. IH&S PO a bit higher
I connected the last two weeks highs and lows with two trend lines. Then I placed a vertical line for this week's time line. And where they intersect at is my area of interest for support and resistance. Price is currently sitting right on support at 71.69.
Delta Wave in progress, should breakout in next 4 weeks, PT1: 77, expecting continutation of Major trend PT2: ≥89, which is validated by previous symmetrical measuring rule.
... for an .83/contract credit.
Notes: I seem to be on a double diagonal kick of late ... . Will look to take profit at 20% of the width of the wings/roll the short straddle aspect at 25% max or at 21-25 DTE.
I'm going flat today. Targets reached with confirming negative divergence. Can it leak higher? Sure, a bit. I'm primarily expecting consolidation into the mid-60s with support between 76.4% and 100% fib extensions shown in green. See earlier ideas linked below.
EFA has broken out of symmetrical triangle well before apex indicating very bullish move. Measuring rule implies potential gain of $56.61 or 89% from breakout. MACD also breaking out of downtrend since 2007.
$EFA BREAKOUT $75 PT
As long as support holds EFA should extend higher in wave 3. As much as 8-12% higher from here.
$EFA BREAKOUT 15YR CHART
$EFA BREAKOUT 15YEAR CHART
$EFA EURO STOCKS BREAKOUT