Global Logistic Prop – Upper shadow at resistance
Today, GLP formed a shooting star lookalike at classical resistance of 1.77. This could signify a near term resistance for GLP.
Wilmar – beautiful shooting star seen
Thanks to belle for alerting Wilmar.
Wilmar today has a beautiful bearish shooting star with good volume. After such a strong so many days higher, finally Wilmar may be reaching end of the road, for now. Those that have long position may want to set a trailing stop to protect your profit. Those thinking to short, make sure you set your cut loss. If Wilmar do go lower, first small support to watch out for will be the 100 and 200 DMA at the same price of 5.29. Then watch out for 5.11 which will coincides with fibonacci 38.2% and 50DMA. The fibonacci 50% will be strong support for now.
Oct 31, 2011 Weekly Singapore Stocks with Jonathan Tan
EU saved. US problems free. Market bullish. Seems like there is totally no bad news that can be found. Market moved higher and higher. Everyone happy. So, can I buy Singapore stocks? Sure? Find out what it is in this week video edition.
Remember to let your friends know about this video, Facebook and weekly webinar (Thurs 10am). Thanks.
Oct 27, 2011 Mid-week Webinar Recording
Join me in this webinar recording to listen.
This is a live recording of webinar where we discuss counters with everyone that join in. If you would like to join in, please join me on Thurs 10am every week.
Remember to let your friends know about this video, Facebook and weekly webinar (Thurs 10am). Thanks.
Oct 27, 2011 10am Mid-week Webinar (Open to everyone)
All eyes are now on European Union Summit happening throughout Wednesday. US are bearish whereas Asia are bullish. Will it be sell on news or is it that people are just realistic about the conditions facing EU? Can countries be saved just like banks? Another too big to fail? Join me in this webinar.
S&P Support and Resistance level to take note of
From the charts, I have drawn several trendlines that may be in play to take note of. Breaking the support will be an opportunity to short whereas going to hit the resistance with a bearish reversal candlestick will be a better risk and reward to short. Therefore, as long as US wants to go higher, let it be but keep a close eye on the major resistance.
DBS – Akan datang???
DBS looks like trying getting ready to breakout from resistance.
Oct 24, 2011 Weekly Singapore Stocks with Jonathan Tan
Bulls make money, bears makes money but pigs get slaughtered. S&P finally broke higher from the range trading and on Friday rallied above the resistance. Could this move also pull Hand Seng and Straits Times higher? Can the Singapore banks lead the rally and break out from the resistance pushing stocks higher? Find out what it is in this week video edition.
Remember to let your friends know about this video, Facebook and weekly webinar (Thurs 10am). Thanks.
S&P – And it opens “Player”
I am sure you have notice that I have not been posting often, well for a simple reason, October is a very volatile month. In addition, this week is US option expiration, which is well known for a volatile week.
Volatile + volatile = more volatile.
After such a massive move higher, S&P now trying to decide if it wants to decide the next direction. Over the last few days, it closed white, black, white, black, and this morning, white again. Is that a hammer or hanging man candle this morning? Deciding one of them may tell you the direction. As of now, it looks more like hanging man rather than a hammer as it is found at the top of the price action.
For me, I will be watching the S&P movement in comparison with Oct 18th candle. Go higher, bullish, go lower bearish. If go higher, there is a chance it can run a little bit more as price have consolidated over the last few days, therefore it will be a breakout of resistance (but I will long small as it has move up so much). Go lower, I will short small too as this run up is very strong. There is a possibility a higher low will be formed.
Here you go, I shared my thoughts. There is no need to trade every single day in stocks unless you are a day trader. Forex yes, stocks no.
Why?
In the mid week webinar recording (you can watch it in youtube), I shared that
1 year = 200 daily candles
1 day = 288 5-minute candles
1 day = 24 1-hour candles
If you are using daily candles in stock, you have to set an expectation that there will not be an opportunity every single day. There will be a lot of days where you just wait and wait and wait and wait. But I am not asking you or encouraging you to trade forex. Every type of trade has its risk. You will have to decide for yourself and see if you like the volatility or risk. Never think of the reward first. Always think of the risk first. There are a lot of forex demo account that is available. Just go and try it out lor. It is free for you to try. If you cannot make money using free money, then it is not time yet for you to try real money.
This posting may offend some of the people but this is just my opinion.
Oct 20, 10:00am Mid-week Recording
http://ChartingAcademy.com
Market flew higher for the last 2 weeks and now seems to have hit some speed bumps. Over the last few days, it seems like market swing up and down squeezing those that long and short. So, what will it be? Banker or Player? Join me in this webinar recording to listen.
This is a live recording of webinar where we discuss counters with everyone that join in. If you would like to join in, please join me on Thurs 10am every week.
Remember to let your friends know about this video, Facebook and weekly webinar (Thurs 10am). Thanks.
