GLOBAL EQUITY MARKETS – December 30, 2017
Dear Tech Charts members,
2017 has been a special year for me. I made several decisions; the most important ones were moving to a new country with my family and launching the Tech Charts membership service. Like with our decisions with trading opportunities, life decisions require the leap of faith. Good or bad, we need to step to the line and take the next opportunity in our life. Without God's blessing and Tech Charts members support this wouldn't have come to fruition. I've taken this challenge and enjoyed every part of it and I look forward continuing to add value to your decision making and learning experience in the field of classical charting principles and technical analysis.
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.
Kind regards,
REVIEW
2017 was a strong year for Global Equity Markets. In the second quarter of 2017, iShares MSCI All Country World Index ETF broke out to all-time highs. The daily price chart formed a year-long upward trend channel and the steady uptrend resumed between the boundaries of the steep trend channel. Over the past month the ACWI ETF formed a minor low which now acts as a short-term support at 70.80 levels. Both the 20 month-long uptrend and the year-long trend channel are still intact.
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GLOBAL EQUITY MARKETS – December 23, 2017
REVIEW
Over the past few weeks I reviewed the UK FTSE 100 index. I believe it is one of the most important long-term opportunity for global equity investors. There are couple of technical developments that I really like about the UK FTSE 100 index chart. First one is that the index cleared its multi-decade long horizontal resistance and reached all-time highs. Stocks or indices that clear long-term resistances and reach all-time highs enter "uncharted territory". Uncharted territory is the path of least resistance. In other words there is no previous price level that the index would find resistance.
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Rectangle Chart Patterns – December 2017 Tech Charts Webinar
- Rectangle is a reliable chart pattern with horizontal boundaries.
- Breakouts from chart patterns with horizontal boundaries are more reliable when compared with breakouts from diagonal boundaries
- 5 important technical points when identifying rectangle chart patterns
- Importance of several tests of chart pattern boundary before a breakout takes place
- The broader context of price action and where the rectangle chart pattern forms
- Rectangle as a launching pattern
- Long-term chart patterns will launch strong uptrends
- Breakout above more than one technical resistance is significant
- Review of all rectangle chart pattern breakouts between May 2017 and December 2017
- Developing rectangle chart patterns; a review of watchlist candidates
- Member charts, analysis of Tech Charts members charts
- Q&A
- Any thoughts on gold? 48:01
- Comments on general questions from members 48:59
- What charting platform do you use or recommend for Canada? 51:07
- Profit target / exit strategy: any views on the most profitable as 1/ exit 2/ half exit, half keep in trade 3/ trailing stop? 52:22
- Broker to trade international stock from Canada? 53:48 (Member reply 58:30)
- Could you please explain how you proceed to look at a chart? For a beginner, it's often we don't know where to start when looking at a chart. 54:02
- Do you use any indicators to support the breakout or avoid fake breakouts like rsi macd etc? 57:20
- I am using CMC Markets which is a free platform. How does this compare with Metastock? 58:54
- Would you consider an initial trade at the lower boundary of a rect. after it has been tested 3-4 times and held? 1:00:18
- Re entry on a pattern failure, are there any parameters you have? 1:01:36
- Can you discuss how you calculate the Negation Point? Do you still keep the stock that triggers the Negation Levels / Point in your watch list? 1:01:36
- What do you think is the success rate of the weekly rectangle in % (like 60 or 70%)? 1:04:34
- Do you keep statistic of triggered breakouts that failed vs successful ones that you posted in a member section? I mean a ratio between them. 1:06:25
- Could you talk a little on the Bitcoin chart. 1:07:39
