Reversal Chart Patterns – January 2019 Tech Charts Webinar

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Reversal Chart Patterns – January 2019 Tech Charts Webinar 

  • We will review some of those chart pattern breakdowns that were featured in the Global Equity Markets report.
  • We will review some of the qualities we look for when identifying reversal chart patterns
  • We will look at some of the developing top formations.
  • We will continue to highlight Tech Charts members favorite chart pattern setups in different equity markets.
  • Live questions from Members

Live questions from Members  

  1. I wondered if you could discuss gold and silver in dollars please? They seem to have bottomed, but not clear on what formations they may be making. 48:25
  2. Japan I have seen some folks draw non-horizontal boundary lines on potential H&S tops. Is this valid? 49:33 Link mentioned VEDANTA LTD (VDAN.NS)
  3. Italy would the buy signal come at a reversal to 15.8 or earlier? 51:16
  4. For the launching patterns you showed – where do you put your stop? Can you discuss trade management? 52:08
  5. Germany had a nice candle right where it should at the target low price, what do we need to see to be a buyer for a reversal upside? 53:44
  6. For PKG the right shoulder was higher than the left shoulder – What are your thoughts on this, do you prefer lower right shoulder? How much of a difference in shoulder height would you ignore? 56:06
  7. Can you talk about volume – how you use it? 57:25 – Link mentioned VOLUME AS A CONFIRMING INDICATOR
  8. Korea has an almost horizontal neck line, valid? 59:40
  9. On the breakdown of the H&S – Are you taking into consideration volume as a confirmation as well? 1:00:11
  10. What is the difference between consolidation, distribution, and continuation patterns? 1:00:44 
  11. You mention a price target on the charts, what about stop loss? Where would you set your stop loss? 1:03:00 Link mentioned ATR Trailing Stop-Loss – H&S Top 
  12. If you are new to trading – How would you suggest starting? 1:03:43
  13. If a breakout signal is missed, would you try to enter at a rebound? 1:07:24
  14. If the price target is met do you take profit on the whole position? Or keep some on and use a trailing stop? 1:08:20
  15. When you draw your diagonal trend channels, do you start with the line on the top of the candles or the bottom? And are the charts linear or log? 1:09:06 
  16. On the DAX why draw the neckline as horizontal? 1:10:23
  17. For ascending and descending triangles are there a minimum/ideal number of contact points you look for to define these? 1:11:45
  18. When you have 2 patterns e.g. H&S and rectangle, which price target should we use? 1:13:40

Recorded live 1.10.2019 

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CUP & HANDLE – DAIRY FARM (DAIR.SI)

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features from the watchlist section a bullish cup & handle continuation chart pattern on Singapore’s Dairy Farm International Holdings (DAIR.SI)

DAIRY FARM INTERNATIONAL HOLDINGS LTD (DAIR.SI)

Dairy Farm International Holdings Limited is a Hong Kong-based Asian retailer. The Company operates in four segments: Food, Health and Beauty, Home Furnishings, and Restaurants. The stock is listed on the Singapore Stock Exchange. Price chart formed a 2 year-long cup & handle continuation with the horizontal boundary acting as strong resistance at 9.3 levels. The horizontal boundary was tested several times over the course of the chart pattern. A daily close above 9.6 levels will confirm the breakout from the 2 year-long cup & handle continuation with the possible chart pattern price target of 11 levels. The handle part of the multi year-long consolidation can be identified as a possible rectangle that can act as a launching pattern. Price data is as of January 15, 2019 CET 7:00 AM.

EDUCATIONAL VIDEO ON CUP & HANDLE CONTINUATION CHART PATTERN

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GLOBAL EQUITY MARKETS – January 12, 2019

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REVIEW

The iShares MSCI All Country World Index ETF, a measure of Global equity markets performance, had a sharp rebound from the support level at 63. Back to back weekly gains pushed the index towards the resistance area between 66.3 and 70. Is the recent rebound part of a bottoming process or a counter-trend rally in a downtrend? The answer lies in the following week’s price action. V-bottom reversals are difficult to analyze and trade. If we have seen a V bottom and the ETF keeps climbing higher in the following weeks, I will wait for the price to stabilize above the long-term average. If there is a re-test of previous lows in an attempt to form a double bottom, then I will monitor the ETF for a long opportunity. The other possibility is that we see a short-term consolidation before moving higher. That again will alert me to look for bullish setups.

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HEAD & SHOULDER TOP

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Every week Tech Charts Global Equity Markets report features some of the well-defined, mature classical chart patterns under a lengthy watchlist and the chart pattern breakout signals that took place during that week. Global Equity Markets report covers single stocks from developed, emerging and frontier markets, ETF’s and global equity indices. The report starts with a review section that highlights the important chart developments on global equity benchmarks. This blog post features 2 head and shoulder top chart patterns from Developed and Emerging market equities.

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INTERIM UPDATE – January 8, 2019

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This interim update reviews 2 long-term developing breakout opportunities in Sweden equity market. Both charts patterns are mature and well-defined. Breakouts from these lengthy consolidations can push these stocks to all-time highs. Both chart patterns can act as bullish continuations.

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GLOBAL EQUITY MARKETS – January 5, 2019

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REVIEW

The iShares MSCI All Country World Index ETF (ACWI.O) had another strong weekly close thanks to the Friday’s price action. I’m analyzing the latest strength as a rebound in a downtrend. 63 levels remains as the strong support level. Previous support that was breached on the downside will act as resistance at 66.3 levels.

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Live Webinar and Q&A with Aksel – Thursday, January 10, 8:30am mountain

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Dear Tech Charts Members,

We are continuing our Member webinar series with some of the frequently featured reversal chart patterns; the head and shoulder top, descending triangle and rectangle. Global equities entered into bear market territory. Over the past couple of months the Global Equity Markets report has featured great chart setups that were identified as top reversals. Identifying reversal chart patterns can help us in protecting downside in our portfolios. Liquid instruments also offer great shorting opportunities.

Scheduled for: Thursday, January 10th at 8:30am MST (register below)

The upcoming webinar is dedicated to a thorough discussion on head and shoulder top, descending triangle and rectangle as top reversal chart patterns.

  • We will review some of those chart pattern breakdowns that were featured in the Global Equity Markets report.
  • We will review some of the qualities we look for when identifying reversal chart patterns
  • We will look at some of the developing top formations.
  • We will continue to highlight Tech Charts members favorite chart pattern setups in different equity markets. As always please feel free to send charts for discussion.
  • We will have a member Q&A at the end of the webinar.

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GLOBAL EQUITY MARKETS – December 29, 2018

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Dear Tech Charts members,

One more year is behind us. In the beginning of every year I wish health for family members, friends and their loved ones. Tech Charts community has become a family. I wish all of you a healthy New Year. I hope the new year brings new hopes and aspirations along with the zeal and courage to keep up with those commitments. Wish you all the best.

Kind regards,

REVIEW

Global equity markets performance as measured by the iShares MSCI All Country World Index ETF (ACWI.O) rebounded from oversold levels. In the time frame I analyze price charts (daily, weekly and monthly) from a classical charting perspective there is no clear sign of reversal. V bottoms can take place and they are usually difficult to anticipate and analyze. My best guess is that we see some sort of consolidation after December’s sharp sell-off. The consolidation can result in a re-test of previous lows. We will be able to tell as we get new evidence (data points) from the markets. For now I can say that the ACWI ETF (ACWI.O) stabilized around the support at 63 levels. Strong resistance stands at 66.3 levels. The ETF is trading below its long-term average and is in a steady downtrend.

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GLOBAL EQUITY MARKETS – December 22, 2018

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REVIEW

Global equity markets performance as measured by the iShares MSCI All Country World Index ETF (ACWI.O) broke down the 3 month-long sideways consolidation by breaching the support at 66.3 levels. Breakdown was followed by a sharp drop towards the next support level at 63 levels. Nothing good happens below the 200-day moving average. Back in October the long-term trend following indicator alerted us to the change in trend. Previous support becomes the new resistance. 66.3 levels will act as short-term resistance if markets experience any rebound. In the short-term, there is no chart pattern that would signal a trend reversal.

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ATR Trailing Stop-Loss – H&S Top

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