long fxi based on daily chartThis ETF is 20% off from its recent high in Jan 2018. Scholastic stated that it's oversold with macd improving. It has resistance at 48, so this is an initial drip in batch.
FXI trade ideas
SHINA FXI YINN YANGTaking a look at FXI this time.
The index has been consolidating for quite some time.
There are a few folks calling the FXI has broken out of a falling wedge. I say look again and apply the trend line of the lows to the high and you can clearly see it is still stuck inside a downtrend channel.
The x3 leverage index YINN and YANG are also helpful to glance at how bullish/bearish cycle compares (represented in Green and Red line respectively, with appropriate resistance/supports), directly above the FXI.
YANG (x3 bear) has been building higher lows while conversely, YINN (x3 bull) has been building lower highs.
Until the bulls manage to break out above the trend channel and close above it, I will still remain cautiously bearish.
FXI has been trading in a huge wedge patternFXI has been in a wedge formation since the high of the market earlier this year. As of last night, I bought a strangle on fxi in anticipating of the ETF's reaction to Xi's comments. With or without the comments, there could be a huge move coming up. I am long the 47.5 calls and the 46 puts several weeks out. Hopefully, it will make a movement by then.
Potentially Bearish China via FXIThe last bearish crossover in Dec 2016 was meh, yeah the etf when down but not by much. But if this ends up like the July 2015 downside crossover I'll be saying, "Avi! Pull your socks up!" But I'll hold for the cross for earliest entry. www.youtube.com
FXI put spreadsGetting long Chinnnaaahh (Donald voice) via credit put spreads @ $1.77. I went ITM to be a bit more directional.
Mar16 40/48 put spread
POP: 56%
Max Loss: $625
Max Win: $175
Stop loss: Price at $44.45 or 2x credit received
Target: 50% of credit received
short 48 put: 61 delta
long 40 put: 6 delta.
FXI at support!FXI at support. In addition: if the price does not change much for the rest of the trading day (US session), we will have an inverted hammer bullish candlestick (we can see it at least now).
China Equity - Due for a shakeupWeekly trend-line resistance + rising wedge + negative RSI divergence, something is brewing on China equities...
$FXI massive breakout for Chinese big cap stocks today$FXI massive breakout for Chinese big cap stocks today
Ascending Triangle on weekly chart FXIGenerally Ascending triangle is for spotting continuation of existing trend but FXI is showing it after bottoming in
January 2016. Let us see what happens. Expecting price to print in 50 area in next 6 months. Yes, it is slow moving ETF, but good for options.
www.chartpatterns.com
FXI weekly - head and shoulders breakout - 2/15/2017looks like a classical head and shoulders breakout. 40 weeks MA is pointing up. RSI and MACD all look good. In the past it had several breakouts that gained anywhere from 10 to 40 percent.
CHINA APPROACHING SHORT LEVELToo many levels aligning to not take notice of this low risk short opportunity. FXI approaching marked resistance at the $37-37.14 range. Converging trendline resistance, round number $37 and 0.618 Fib retracement. Waiting to initiate short at $37 even.
