[On :Freetrade:] Vanguard FTSE All-World UCITS ETF (VWRL)

I’ve been looking at the chart on this for a while to get an indication of where it might go next. It has made a couple of attempts at breaking above the 61.8% retracement on the recent downtrend whilst being supported by the 50%. A break in either of these should signify its next move.

Also noticed that it there is resistance on the 50 EMA.

So basically you have no better idea than anyone else?

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Correct. Nobody can ever predict what an instrument will do. However I use technical analysis which might give an indication of where a trade might go next.

The one above in the chart is something called Fibonacci retracement and I find it useful. Not sure if you have ever used TA but worth researching and giving it a go.

Hope that helps :+1:

No. Once you actually do scientific reaearch on financial markets, you learn that technical analysis does not work and is basically made-up. More like astrology.

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Moreover, technical analysis on an index tracker composing around 3000 companies is pointless.

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You’ll not be surprised to hear that I disagree :grin: I’ve used TA to support my trading for years and it has worked well for me. I use it to gauge strength or weakness in an individual stock, market or sector.

Of course it isn’t fallible and I don’t use it in isolation but everyone has their own trading style and TA works for a lot of people. I used to be sceptical but that’s when I wasn’t using it correctly for the type of trading I was doing. I don’t look for short term opportunities and I find TA works a lot better for longer term trends.