Pattern Opportunity – Short Emerging Markets (EEV)

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POWER OF THE PATTERN EXAMPLE

SHORT EMERGING MARKETS (EEV)

PATTERN TO SHORT EMERGING MARKETS (BUY EEV) SHARED:  6/7/13

A breakdown of a flag pattern in EEM (lower right chart) along with some correlation to the Australian Dollar (lower left chart)…reflecting a prior breakdown/crash that also led to a crash in EEM and commodities back in 2007. 

The AU$ has formed a bearish descending triangle and looks to be breaking support after creating a bearish wick this week.

EEM continue to break down over the next two weeks but long term support at $39 held. Members who got out here received a 24% gain in little over two weeks.

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I hope this example provides helpful insight into how I attempt to find quality patterns for members on a daily basis.
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