(NYSEARCA:PDN) PowerShares FTSE RAFI Developed Mar(ETF)

Here is an interesting ETF chart I created. 

So the question is whether this ETF is worth trading, and if it is showing reliable Price Action.

As you can see this ETF has had a decent primary trend if you look onto a daily time frame. In about 6 month this ETF incremented more than115% of its value(Jan 2009), showing later on a modest consolidation, which indeed formed a Head and Shoulder pattern. This ETF has had a nice ride with the Bollinger Bands at 2-standard deviation and a length of 50 days; it has shown numerous reversals in upper/lower bands. I placed two trend lines, which mostly define the H&S, but primarily serve as good support/resistance levels in multiple occasions.  The other drawing that I decided to include was the Fibonacci Retracements. If you look closely they actually received some good bounces in the 50-61.80% levels. So the question is, would I trade at these levels? Most definitely with a tight stop on quote order. I would probably also buy some at pullbacks. In general, the price action seems fairly decent and I would expect the price to reach $26 and eventually some new all time high.

Alexander Schachter