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Why The Power Of The Pattern Loves Brazil

ByChris Kimble
Published 09/20/2013, 01:57 AM
Updated 07/09/2023, 06:31 AM

ISH MSI Brazil

Do you believe in the ole concept of Buy Low & Sell High? The Power of the Pattern does!

In July the Power of the Pattern reflected that Brazil could be making a "Double Bottom at the bottom of a 3-year falling channel support line and this pattern was suggesting to Buy Brazil /EWZ" with a fixed stop below support.
The above chart was shared with members and on Stocktwits, reflecting that the patterns looked very favorable for Brazil, as a bullish inverse head & shoulders pattern looked to be in place and the neckline was breaking to the upside.
SPDR S&P 500
The above chart compares EWZ to SPY, after EWZ hit the bottom of the 3-yea falling channel in the first chart (top left). The Power of the Pattern looks for good risk/reward entry points and can in provide positive relative strength returns. This chart reflects that EWZ has made in 2 months, close to what the S&P 500 has the entire year!

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