It is important to know our position in the big picture. For this, employing Monthly/weekly charts may prove to be very beneficial in TA. Looking at the daily charts only, that important element ( position in the big picture) is likely to be missed. For entry/exit daily charts are the key in my view.

This is the  VANGUARD ETF “VHY” (Check Vanguard website for all relevant information about this ETF) . We have seen an intra month violation of the SUPPORT LINE of the Channel, but currently we are back above it. Would that be the case by the end of the month remains to be seen off course. ZONE of  PRICE SUPPORT shaded with YELLOW appears to have done it’s job, so far at least.


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