EWK trade ideas
EWK vs DAX: Belgium Rally vs German DAX Fade ?Part 2 of 2.
This is the chart for-EWK, the Belgium I-Shares. When you view this chart vs the-DAX you should be able to see that EWK-is much stronger.
Positives:
1. Prices are ABOVE the red Ichimoku Cloud conversion line and black baseline.
2. The-DMI (top indicator) is positive, and the strength is not fading.
3. The phase energy (top lower) is steadily rising and ABOVE ZERO.
4. Buy Fractal during rally since 09-08-16 (green box).
5. The FORWARD PROJECTION (top middle) is strong.
For an estimation of possible FORWARD TRENDING I use the Ichimoku Cloud Senkou Span A (Leading Span A): (Conversion Line + Base Line)/2)). This is the midpoint between the Conversion Line and the Base Line. The Leading Span A forms one of the two Cloud boundaries. It is referred to as "Leading" because it is plotted 26 periods in the future and forms the faster Cloud boundary. I then make an oscillator out of this and plot the progress up and down around a “zero line”. Currently the forward projection is VERY STRONG.
I HAVE THE RESULTS OF THESE CALCULATIONS FOR THE-EWK IN THE TOP MIDDLE INDICATOR. AS YOU CAN SEE, THE FORWARD PROJECTION IS HIGHER.
A four hour chart looks even more positive.
So, I feel the-EWK will be heading higher.
Good luck to you in all your trades. Don.
