Wednesday, March 19, 2008
BRIC Update
The BricPerfChart is showing some signs of bullish divergence. We never got to oversold territory on the stochastic in order to give me another buy signal for a trade. Volume on the BIK was also very low not a good signal. I'm sure when you look at the individual charts for BRAZIL , RUSSIA , INDIA & CHINA you must be wondering what's up with the 3 moving averages. I can't explain it all here in this post but I would strongly recommend reading THIS BOOK . You'll learn about the "GATOR" and buy & sell fractals. Some really helpful stuff when it comes to recognizing where support and resistance is. You may also be wondering why I always use Candlestick charts rather than line charts for the individual ETF's. Here are a couple of other books that I would strongly recommend. Book#1 & Book#2 . Of course you can always start out by just going to Chart School for free. I am convinced that if a trader learns to read the charts it will improve your chances of being successful. So never stop learning, read every thing you can. I have several Learn Something New links here on the left sidebar of my blog where you can click away to your hearts content.
Labels: BRIC ETF's
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