It was disappointing that the 21.90 lateral support didnt hold, but I held onto my positions as the significant weekly 20.80 support was still in tact. As long as we remain above 20.80 the set-up remains bullish and could potentially be building up to form an inverse head and shoulder which will be confirmed with a break above 23.50. I continue to hold
Massive push higher this week on FTSE and RSI looking very overstretched on shorter time framed charts. Good place to take profit on long positions or alternative a small short position with a tight stop. Would like to see the 7060 area re-tested
Following the successful break of the bull flag and the quick follow through, there is no surprise that we are seeing a pullback on this ETF. I am starting to average back in after slowly taking profits from 27.50 (prior high) and above. There is no sign of a bottom here, but I am happy with the current price and will buy more if we move lower. The long term...
Earlier this month we called the odds in favour of a dollar bounce. The follow through has been brilliant and has reached a decent profit taking area = top of the upper resistance and RSI has headed into overbought territory.
I've been bullish this ETF for a little while and it has been consolidating and building nicely. There is another bullish break of a flag - still looking for 38.50 target initially. Been paid a nice cheeky monthly dividend while we wait.
Tomorrow is the LDT for a 46p divi = 1.46% simple divi yield off current price. Also appears as though the ETF has formed a triple top - but as the saying goes "no such thing as a triple top". I am hoping we power through to resistance around 33. I had been averaging into my ISAs and SIPPs the for past few days in anticipation of the dividend and next leg higher.
Beautiful follow through following the break of the bull flag. Currently testing all time highs, but move has been aggressive as seen by the extension from the 20day SMA and overbought RSI. It is currently the largest allocation in my portfolio and I will look to take some partial profits here hoping we get a slight pullback for an accumulation.
We have been keeping an eye on this potential continuation rectangle for a while. The break out of the downward channel is bullish and I will further add to my current holdings. There is resistance at 23.35, but above there we could see a significant break higher. But for now... taking it level by level
Patience has started to pay off. I have been averaging into this ETF for a while - especially when we saw the re-test of the inverse h&s neckline. The bull flag has finally broken higher and will target new all time highs - will hopefully see 31/32 region. Currently largest % holding in my portfolio and happy with current allocation.
I would be surprised if this bounce continues much higher before a pullback/some consolidation. We are hitting double resistance - Lateral and downward sloping. There is also some hidden bearish RSI divergence. Ideally would like to see 7070 tested and then will re-assess
The Hourly bearish engulfing candle confirms my short thesis as well as puts a line in the sand as a stop loss (7225). It has been a frustrating ride so far so hoping we can pick up some momentum to the downside