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...
Ishares MSCI Philippines (EPHE) Bullish ABCD - March 22, 2018
EPHE completed a Bullish ABCD HArmonic Pattern.
Resistance levels are 34.81, 35.49 and 36.39. Support levels are at 34 and 33.
$EPHE iShares MSCI Philippines broke out from a Symmetrical Triangle Pattern and may be forming a Potential Bearish Butterfly Harmonic Pattern that aims to be completed at 47.
Buy at current prices to trade the breakout but expect a return move.
Resistance levels are at 40, 43, and 47.
Support levels are at 37 and 36.
Philippines ETF is going all over.
It is definitely early to say but I can't help but see signs of wear.
Bears may be taking over soon. Once they become obvious, it will be late by then.
I am cautiously Bearish.
This analysis not include personal feeling/opinion, and pure base on technical analysis
I believe that buying at 34.80 is a good risk reward even as it risks going near 34.00 We see a trading range possibility where risk is a definitive break of 34 but a reward of 40 to 42 meriting a buy at this point. More so, analyzing the PSEI shows that Oct 13, 2016 when index hit 7300 versus Nov 3 2016 when index went 7100 shows a bullish divergence using...
Philippine Index has double top, a bearish divergence using the EPHE/USDPHP spread showing this rally is weak in nature and must be shorted.
Target zones are the 1.00 (full retracement to 29.69) or a newer low at 24.00
Risk reward is skewed to the shorts.
We note that 2015's peak of 8100 has been shown by the bearish divergence based on the index price versus dollars.
Since topping during May 2013, the Philippine index has already been in a bear market. It's currently staging a relief rally which will be capped at the 0.75 level thereabouts.
This spread chart is only an illustration to short EPHE and be...