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IFTA Exam
One of the problems faced by candidates attempting the STA Diploma / CFTe Level II examination is that the expectations are not clearly defined ( eg: format of chart analysis report is not clear…etc. ) . This is especially true for candidates who sit for the CFTe Level II exam as a private candidate as opposed to those who have attended preparatory courses from their respective societies.
Market Wizards LLP visualized the problem and we are here to help!
We offer mock answers to the past year examination papers ( Chart Analysis Only ). The mock answers are carefully written by our trainer who has attempted the examination and passed with DISTINCTION grade. Our trainer is a Full Member of the Society of Technical Analysts UK ( MSTA ) as well as Certified Financial Technician CFTe ) accredited by IFTA.
Please access Market Wizards LLP's website by clicking on the below icon to find out more details :
Labels: Trading Digest
CFTe II
One of the problems faced by candidates attempting the STA Diploma / CFTe Level II examination is that the expectations are not clearly defined ( eg: format of chart analysis report is not clear…etc. ) . This is especially true for candidates who sit for the CFTe Level II exam as a private candidate as opposed to those who have attended preparatory courses from their respective societies.
Market Wizards LLP visualized the problem and we are here to help!
We offer mock answers to the past year examination papers ( Chart Analysis Only ). The mock answers are carefully written by our trainer who has attempted the examination and passed with DISTINCTION grade. Our trainer is a Full Member of the Society of Technical Analysts UK ( MSTA ) as well as Certified Financial Technician CFTe ) accredited by IFTA.
Please access Market Wizards LLP's website by clicking on the icon below to find out more details :
Labels: Trading Digest
CFTe Exam
One of the problems faced by candidates attempting the STA Diploma / CFTe Level II examination is that the expectations are not clearly defined ( eg: format of chart analysis report is not clear…etc. ) . This is especially true for candidates who sit for the CFTe Level II exam as a private candidate as opposed to those who have attended preparatory courses from their respective societies.
Market Wizards LLP visualized the problem and we are here to help!
We offer mock answers to the past year examination papers ( Chart Analysis Only ). The mock answers are carefully written by our trainer who has attempted the examination and passed with DISTINCTION grade. Our trainer is a Full Member of the Society of Technical Analysts UK ( MSTA ) as well as Certified Financial Technician CFTe ) accredited by IFTA.
Please access Market Wizards LLP's website by clicking on the icon below to find out more details :
Labels: Trading Digest
STI Update / IndoAgri
In the Point and Figure chart, a new column of "O" was created today. Another 10 points loss will generate the first sell signal. It is not my intention to foreshadow the direction of the market because it may move either way. But should the three sell signals are triggered, the vertical count target will be imminent.
Amidst the concern I have on the index, IndoAgri appears to have found its support. The counter closed with a doji sitting at the support of two trendlines. Stochastic is in oversold while %K is titling up. Unless affected by the broad market performance, if we look at this counter in isolation, it should stag a rebound.
The gold color trendline shows that IndoaAgri has fully discounted the effect of trendline violation.
Labels: Market Direction, Stock Pick
STI - Point and Figure Chart Update
The rebound this morning has caused a new column of "X" to be formed. This column of "X" has fixed the previous column of "O" and thus allowing a vertical count to be established. The Vertical Count ( VC ) target is 2,980.
Vertical Count = 10 boxes x 10 points x 3 ( reversal ) = 300 points
3,280 - 300 = 2,980
Please note, however, that the VC will only be activated when 3,160 is hit.
To sum up, Point and Figure sell signals : 3,160, 3,115, 3,105. Vertical Count target = 2,980.
If the index rally up and break above the red color Bearish Resistance Line, the above forecast will be invalidated.
Labels: Market Direction
Two Views Of STI
The recent market is posing a lot of challenges to technical traders. A textbook fashion Head & Shoulder pattern has ended up as being false. A support / resistance ( line B ) that does not look like it will violate has violated both ways.
I have therefore decided to look at the index using not only candlestick chart but also Point and Figure Chart :
STI Candlestick Chart :
Support at line B was penetrated decisively on Thursday with follow through selling on Friday. The index has lost 65 points in 3 straight sessions. Stochastic is near over sold. We may see a rebound to bring the index back to touch line B ( 3,220 ), which is now the resistance. Failure to overcome line B will see line C ( 3,120 ) as the next support and price objective.
STI Point and Figure Chart :
The candlestick chart does not give a clear view of whether STI is currently bullish or bearish ( but rather it has been whipsaw up and down with lots of sideways actions ).
The Point and Figure Chart, on the contrary, is unambiguous ! STI is currently trading below the Bearish Resistance Line ( Red Line ) and thus it is bearish bias.
While traders may benefit from every rebound after a prior sell down where the index has become oversold. It is important to watch two levels : 3.115 and 3,105. At 3,115, the Point and Figure chart will generate its first weak sell signal. At 3,105, a strong sell signal will be triggered.
So for short term swing traders, it is okay to profit from each nimble trade on the basis of buy on dip when the index has become oversold. But should you see 3,105 being taken, it is a warning that more downside is to be expected. Unfortunately, it is not possible to establish a downside target at this time. Not until the current column of "O" has been fixed by a new column of "X".
Labels: Market Direction
STA Diploma / CFTe Level II Exam
One of the problems faced by candidates attempting the STA Diploma / CFTe Level II examination is that the expectations are not clearly defined ( eg: format of chart analysis report is not clear…etc. ) . This is especially true for candidates who sit for the CFTe Level II exam as a private candidate as opposed to those who have attended preparatory courses from their respective societies.
Market Wizards LLP visualized the problem and we are here to help!
We offer mock answers to the past year examination papers ( Chart Analysis Only ). The mock answers are carefully written by our trainer who has attempted the examination and passed with DISTINCTION grade. Our trainer is a Full Member of the Society of Technical Analysts UK ( MSTA ) as well as Certified Financial Technician CFTe ) accredited by IFTA.
Please click on the icon below to find out more ......
Labels: Trading Digest
Market View / Boston Scientific Update
The Straits Times Index
The threat of a Head & Shoulder pattern was invalidated by the rally that started on December 21. The rally broke resistance line B where it has now become a support. The support was tested twice the last four sessions. If the support holds, a new uptrend could have been born. The immediate target will be the last significant high at 3,313. If the support fails, line C will be the downside target.
Frankly, I am a little surprise on the outcome as the Head & Shoulder pattern was a text book fashion. That's why we often hear 'trade what you see and not what you think'.
Boston Scientific ( NYSE : BSX ) US$ 7.53BSX rose 25 cents in one week. More upside expected !
Labels: Market Direction, Stock Pick
Boston Scientific ( US NYSE Stock )
STI is a relatively small market with limited liquidity. It is more prone to manipulation by syndicates and it does not always heed technical signals. Even if you are correct technically, the market is subject to other external factors such as the overnight performance of Dow. Many people to whom I know have switched to trade the US market. The feats they have displayed are compelling! I will try to look at US stocks in 2011. That said, I will not completely give up on STI...
Boston Scientific ( BSX ) US$ 7.28
A Flag cum Swing Trade setup found waiting for trigger ! The trigger is 1~2 bids above previous day's high. Immediate target is US$ 7.98. Time frame 1~2 weeks. Stop loss when 40 SMA and the uptrend line is penetrated.
NOTE : There is a setup but no trigger yet. Best is to watch for subsequent moves to spot for reversal candle.
Labels: Stock Pick
