FXP vs FXI July 15, 2013
Posted by professor at July 15th, 2013
One of the things I’m watching this morning, now that all of the PT indicator on FXP have turned RED, is FXI…the long China ETF.
FXI is on the Dean’s List, has a TLB Pattern in place, but is currently supporting RED indicators on the Daily Chart.
So for the moment, even though I have Red indicators on FXP on Daily’s, I DO NOT have a Buy signal on the FXI, the opposite long ETF.
Usually when I swing trade using ETF pairs, the indicators usually support the move. But right now, they don’t. I can’t go long in FXI yet. So if I got out of FXP, I have no place to put this money if I wanted to trade China, which I do. But I MUST see positive indicators before I take any trade based on a TLB Pattern
I don’t know why this is happening now, so for the moment, I’m just just watching.
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