Our bear flag played out beautifully and I don't think the selling has finished BUT it was a very quick move and we now have some RSI divergence. I have taken profit on my shorts and swung long looking for a bounce towards 6900. Against the trend so will be keeping my stops tights. NB only looking for a bounce here - can only hold longs if we see a trend change.
Index has broken upward support, and is now in the process of forming a bear flag. Watch the gap at 6941 for first target
Successful gap close at 6944 following a bearish false break higher. Significant support at 6955, through which we could see 6695 again. I took profit on my shorts at the gap close, but will cautiously start to sell the rallies towards 6980, and add should we break support
Re-testing upper resistance - good area for a short (based on assumption first break higher was false) Can continue to add to short if momentum to the downside picks up. SL - prior high (7035). Should we take out 7035, it becomes a false break lower and the picture will turn bullish
Spikes on no news in either direction always make me feel uncomfortable. Even when quickly reversed I find they tend to return to their initial reaction. Therefore shorting with stops at today's high. Watch the gap at 6944
Waiting for a break to confirm direction
Higher highs and higher lows are in place following a successful bounce off lateral support. Still favouring a long bias with a full target of 7050ish and SL of 6890. I am expecting some resistance around 6965 (NB NB) - I will be monitoring closely for any potential reversal. Through this crucial point, one can look to add to their longs, but a reversal here...
Reversed off overhead resistance into our 65 buy zone. Would like to see daily bullish candle to confirm support. Bull flag still in play
O/S RSI and lateral support = decent RR. Target = 6950 area with trailing stop
Beautiful break out of bull flag, but is currently testing lateral overhead resistance. A successful re-test and bounce off 65 may be a good level for a long entry. Market has run very hot - would love to see some consolidation at these levels. Sit and wait for now
Buyers stepped in again at 6860, but this level is less likely to hold next time round. H&S will be confirmed with an hourly close below 6860. I've been bearish last couple of days and am already short - target = 6790
I identified the similar bull flag pattern on VHYL and VGER and I started buying in around 22 (red zone) in anticipation that VAPX would follow suit. So far so good and we have got our confirmed break and re-test. I will use this confirmation to add to my position further - targeting 24.18
I had used the green accumulation zone to add to my positions - after a successful run I have taken profit on the majority of holdings leaving me net underweight. I am hoping for a dip back to the red zone where I will look to start re-entering.
Reversed off overhead resistance & RSI overbought + divergence. Trend up, but worth a small tactical short at these levels. SL = 6930
The ETF has come back to test its bull flag break as I had hoped. I will use this pullback to add to my current position.
Full target reached, and RSI into overbought territory. Been a good run and happy to take profit here on majority of my position
There is a large confirmed bullish inverse H&S (see prior charts) - and I was buying the dips around the 26.00 level into my ISAs and SIPPs. We have seen healthy consolidation over the past month and the etf now appears to be in the process of building a bull flag. This will be confirmed with a daily close above 26.70 and has a full target of 28.00. Given the...
Good place to re-enter new longs after taking partial profit at target 1 (6780)