Chinese #FXI Large Cap ETF ready for a dip buy around here and I will be watching for the triangle to breakout above the red line.
Here are the top 15 holding of the ETF:
Symbol Holding % Assets
3690 Meituan Class B ...
The cyclical boogeyman of Chinese stocks have come down a lot with huge gaps down on the US exchanges. But in RTH, FXI has been accumulated strongly since April 2021 (meaning Asians are selling to Americans, these ETFs more and more held in dollars instead of CNY/HKD). Buy, testing the all time highs within a few years.
Aggregate Volume Drift...
Appearing to be a beginning of the Y in WXY in an otherwise complex correction. This is just a result of just the same as nothing can grow exponentially, nothing will fall unstoppably without seeing some respite from time to time.
We are not in the business of getting every prediction right, no one ever does and that is not the aim of the game. The Fibonacci...
Signal didn't like FXI for a long time now. I have been short. And now it seems like there will be another short opportunity??
I will be keeping an eye on this
PS. Each box span a day, and the code gives short term and long term trends as shown. the trend is shown with the color of the box. The range is calculated on a daily basis.
If you want similar ranges and...
Weekly Support Line
Risk management is much more important than a good entry point.
The max Risk of each plan should be less than 1% of an account.
I am not a PRO trader. I trade option to test my trading plan with small cost.
The iShares China Large-Cap ETF had a big run last year, then pulled back and consolidated for 3-4 months. Now it’s showing signs of coming back to life.
Notice how FXI held roughly $45 after forming a kicker candlestick on June 16-17. Looking back to the other lows of May 13 and March 25, we discover an inverted head and shoulders pattern.
Next, FXI squeezed...
Chinese stocks are entering a bear market. China's holdings are very tech-heavy and mostly internet-based. ex. Alibaba, Tencent, JD, Baidu, Weibo, IQIYI. The Chinese government has concerns over the power these large corporations can wield on their citizens leading to increased regulation. Likewise, the US Government has been closely watching their own tech giants...