Opportunity Trade
There are many counters with 20/20 WRB candlestick set-up after the last 2 ~ 3 days of sell down. I do not want to anticipate whether STI is up or down tomorrow ( as of the time this post was written, Dow was -80 points ). If it is another day with blood shed, then the set-up will probably be postponed to the next day ( better ). If it is an up day ( or down first then up, better also ), the trigger will be when prices bounce back to above the previous day low.
So.... when a trendline is broken, it is not possible to be 'forgiving'. I am talking about STI of course. 1,650 ~ 1,700 may still be on the cards the next few weeks after some rebounds & sideways move!
Capitaland, broke the trendline as expected. There might be a 'return move' to hug the trendline again before heading down to 2.25. While returning to hug the trendline, if it is able to break above the trendline, the down trend may end at where we are today since it has already retraced 50%.
Cosco, I knew on Saturday it will not be so rosy.... but now maybe okay!
SPC, Failed to break trendline and reversed from there but I still have faith with this counter for position trade. It will break the trendline on its next attempt.
I was in the chatroom briefly yesterday. I am not use to the style of some of them. One moment Kencana Agri, another moment Yongnam.... I think that is gambling, not trading or TA. I am use to doing my analysis & making my trading decision away from the market, during end of day. On the trading day itself just look for the trigger and execute the trade. I suggest all those who take the market as casino to read the book "Trading For A Living" from Dr Alexander Elder. Read the first chapter will do !
Capitaland, broke the trendline as expected. There might be a 'return move' to hug the trendline again before heading down to 2.25. While returning to hug the trendline, if it is able to break above the trendline, the down trend may end at where we are today since it has already retraced 50%.
Cosco, I knew on Saturday it will not be so rosy.... but now maybe okay!
SPC, Failed to break trendline and reversed from there but I still have faith with this counter for position trade. It will break the trendline on its next attempt.
I was in the chatroom briefly yesterday. I am not use to the style of some of them. One moment Kencana Agri, another moment Yongnam.... I think that is gambling, not trading or TA. I am use to doing my analysis & making my trading decision away from the market, during end of day. On the trading day itself just look for the trigger and execute the trade. I suggest all those who take the market as casino to read the book "Trading For A Living" from Dr Alexander Elder. Read the first chapter will do !
Labels: Stock Pick
posted by Market Wizards @ April 28, 2009
Comments: 4
