VDJP Daily - Good RR to accumulate I've been liking this ETF for a while - weekly set up very bullish with inverse h&s and bull flag. The move higher was initially very aggressive and I used it as an opportunity to take some profits. This pull back to the trend line is exactly what I have been waiting (&hoping for). Will use as an opportunity to keep averaging in
VDJP/N trade ideas
VDJP Weekly - Starting to accumulate againFollowing the successful break of the bull flag and the quick follow through, there is no surprise that we are seeing a pullback on this ETF. I am starting to average back in after slowly taking profits from 27.50 (prior high) and above. There is no sign of a bottom here, but I am happy with the current price and will buy more if we move lower. The long term weekly picture is still positive as long as we stay above 24.50. I would still like to see 31/32 as a full target here.
VDJP Daily - Testing all time highs Beautiful follow through following the break of the bull flag. Currently testing all time highs, but move has been aggressive as seen by the extension from the 20day SMA and overbought RSI. It is currently the largest allocation in my portfolio and I will look to take some partial profits here hoping we get a slight pullback for an accumulation.
VDJP Weekly - Bull flag breakPatience has started to pay off. I have been averaging into this ETF for a while - especially when we saw the re-test of the inverse h&s neckline. The bull flag has finally broken higher and will target new all time highs - will hopefully see 31/32 region. Currently largest % holding in my portfolio and happy with current allocation.
VDJP Weekly - Testing major support (IH&S neckline)In February I highlighted the bearish RSI divergence and said I would like to accumulate around 25. Frustratingly I was too impulsive and started averaging in too soon. This ETF is now at a make or break level on the weekly - either we get a successful bounce and re-test of the neckline here OR it was a false break higher that sucked in the bulls (like me). Time will tell - with stop losses at the ready.
VDJP Daily - Another bullish set up in the makingThere is a large confirmed bullish inverse H&S (see prior charts) - and I was buying the dips around the 26.00 level into my ISAs and SIPPs. We have seen healthy consolidation over the past month and the etf now appears to be in the process of building a bull flag. This will be confirmed with a daily close above 26.70 and has a full target of 28.00. Given the already very bullish set-up, I will continue to keep adding to my position in anticipation of a further break higher. I will be rotating some of my funds out of UKX (which today successfully reached my full target) - as I believe VDJP offers better RR levels.
VDJP Daily - Time to start averaging back inOne of my favourite ETFs and I am keen to start getting back to full weight.
Technical points:
- Hidden bullish RSI
- Gapped down and extended from 20SMA
- Upward sloping support
May drop further to 25 to re-test massive inverse H&S break - will be a further opportunity to buy more