Three Rocket Arc Patterns for Overseas ETFs EWG EWS and FXI

Jun 30, 2015: 10:12 AM CST

When doing ETF scans, I came across three “Rocket Arc” Patterns I wanted to share with you.

Let’s take a look at these three “Rocket Arc” Patterns in these country-based ETFs following Greece.

We’ll start with a “Perfect Arc” Pattern in Germany iShares (EWG):

I like the “Arc Trendline” or “Rocket Arc” Pattern because it highlights a strong rally which gives way to a sideways “arc” ahead of a sell-off swing as the “Rocket” falls back to earth.

It’s just like a rocket lifting off, stalling at the highs, and then returning back to earth from gravity.

Note the blast-off from $26.00 per share all the way above $30.00 when negative divergences developed.

From there, price retested the $30.00 level and are likely on a descent back to earth – down away from $30.00.

Should shares continue falling under $28.00 per share – the midway support target – then $26.00 is in play.

The same logic applies to Switzerland’s iShares ETF symbol EWS:

While Germany was a more stable Rocket Arc Pattern, Singapore had a more violent lift-off (from March) and is seeing an equally violent return to earth.

Share prices blasted off from $12.00 per share to $13.50 ahead of the current reversal back to earth.

If shares break current support into $12.40, we’ll look for a bearish return to the $12.00 level.

Finally, another arc developed in FXI China:

China’s rise and decline (recently) resembles that of Switzerland though more price was covered.

Shares blasted higher from a range rectangle floor of support above $44.00 per share, ending the arc just above $52.00.

At this point, shares are returning back to earth with repeated breakdowns and downward action.

Study these three ETFs and note similar “Rocket Ship” or “Rocket Arc” price patterns in play.

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Corey Rosenbloom, CMT
Afraid to Trade.com

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One Response to “Three Rocket Arc Patterns for Overseas ETFs EWG EWS and FXI”

  1. Rocket Arc Pattern Completing in FXI China While We Focus on Greece | Afraid to Trade.com Blog Says:

    […] “Three Rocket Arc Price Patterns for Overseas ETFs EWG, EWS, and FXI” […]