ACWI - 11 months HEAD & SHOULDERS BOTTOM
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Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
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Hello Traders ✌
This scenario deserves a comment.
Some Traders look at ACWI as "The World" and that's seems to be the purpose of this ETF. Can we say that it is essentially U.S. driven since the stocks picked by this fund reaches 51,5%? Maybe yes, maybe not as straight as it seems but this is not the aim of this comment.
What I see here is that this largely followed overall stock market proxy took the form of an amazing Head & Shoulders with a clear neckline at the round level of 93.00. If, and that is a big "If", a valid breakout occurs and then prices stabilize above the 200 Days EMA with a clear trendline acting as dynamic support, could we claim that a new global bull run is in place?
Of course, none has the answer but looking at how this chart unfolds can reinforce (or not) the opinion any of us have about single markets he/she is trading. It also offers an opportunity to invest or trade the next leg of the whole stock market.
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
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⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
═════════════════════════════
Since 2014, my markets approach is to spot
trading opportunities based solely on the
development of
CLASSICAL CHART PATTERNS
🤝Let’s learn and grow together 🤝
══════════════════════════════
Hello Traders ✌
This scenario deserves a comment.
Some Traders look at ACWI as "The World" and that's seems to be the purpose of this ETF. Can we say that it is essentially U.S. driven since the stocks picked by this fund reaches 51,5%? Maybe yes, maybe not as straight as it seems but this is not the aim of this comment.
What I see here is that this largely followed overall stock market proxy took the form of an amazing Head & Shoulders with a clear neckline at the round level of 93.00. If, and that is a big "If", a valid breakout occurs and then prices stabilize above the 200 Days EMA with a clear trendline acting as dynamic support, could we claim that a new global bull run is in place?
Of course, none has the answer but looking at how this chart unfolds can reinforce (or not) the opinion any of us have about single markets he/she is trading. It also offers an opportunity to invest or trade the next leg of the whole stock market.
🔎🔎🔎 ALWAYS REMEMBER
"A pattern IS NOT a Pattern until the breakout is completed. Before that moment it is just a bunch of colorful candlesticks on a chart of your watchlist"
═════════════════════════════
⚠ DISCLAIMER ⚠
The content is The Art Of Charting's personal opinion and it is posted purely for educational purpose and therefore it must not be taken as a direct or indirect investing recommendations or advices. Any action taken upon these information is at your own risk.
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