I've seen so many patterns like this one. Present times seem to offer a rather good short entry. Needs confirmation or tight SL
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This ETF will breakout really huge soon HOLD
EW Semis making new highs and new relative all-time highs..
EW Semi's moving higher on both an absolute and relative basis
Although no longer necessary a sweep of the highs to 100 would make XSD much easier to trade as we enter into the next economic cycle down. Those following in the Telegram will know I have been tracking the highs in Consumer staples from a Waves perspective here: As the final target has been reached which coincides with a Technical double top (at least so far...
Kospi leading the way, weak forward guidance on NVDA has confirmed the huge divergence. $XSD already on this 200 DMA and looking like it might compress and fall through. Applying general global macro consensus, the declining commodities prices and liquidity being taken out of EM will also trigger a decline on imports from Korean's largest trading partners,...
Overall just strong. I believe long term trend stays intact.
Semi's look like they are playing out a nice dip before the next run up. Trading in a nice channel and I've been doing a lot of reading on semi's that has my interest peaked for this holiday season. I'll probably enter this tomorrow with a stop loss in the $62 range. If I do get stopped out, but price re-enters the upward channel shortly thereafter, then I'll reenter.
As you can see, we are way above the mean. RSI has been OB for too long on the weekly chart... it is time for a retracement. I am not in trade yet, waiting a couple more days for confirmation.
#XSD is the next stock with hammer on support. Good opportunity to earn money with good R/R. Stop loss below support ~83.25 and take profit on first resistance ~91.94.