Friday, December 30, 2005

20051230 10:10 am. Proton Holdings, is in a possible reversal, having broken the third downtrend line. Posted by Picasa

20051230 9:11 am. Reaches the 161.8% fibonacci extension, which woud be good levels to take profits. Posted by Picasa

Thursday, December 29, 2005

20051229 Stochastics continues to be o/b, but MACD still bullish. FKLI spot month settled at 901.50 at the close. Posted by Picasa

20051229 9:00 am. Continuation of the uptrend from the breakout entry (893.50) The uptrend lines deineate the trend in place. Posted by Picasa

Wednesday, December 28, 2005

20051228 Stochastics moving further into oberbought, but the MACD is still bullish. Prices shrug off the overnight fals on Wall St, and contiues the positive vein off the buy signal a few days ago.(Upside break of 893.50) Posted by Picasa

Tuesday, December 27, 2005

20051227 4:40 pm. After the sideways action finally breaks above 893.50. However trade dominated by rollover activity past few sessions. One thing for sure it is not prudent to short against the daily trend indicators. Posted by Picasa

Thursday, December 22, 2005

20051222 4:35 pm. FKLI sold off today now trading near lows. Technical indicators show stochastics overbought but MACD is still pointing up, this culd be a correction in the uptrend off oberbought conditions. Price actin though will determine entry back into long position, a break back above 893.50 today's high, would be a good price trigger. Otherwise, stay out and see what happens. Posted by Picasa

Tuesday, December 20, 2005

20051220 Close. The Breakout came to the upside, with the anticipated downside Andres's pitchfork not materialising. In markets, patience will keep traders out of bad positions. Posted by Picasa

20051220 Lunch session break. What the lines in the chart signify is the possibility of an Andrew's pitchfork. If the trader believes this is a correction in the downtrend, a short would be in play on the break of the sky blue line, with a stop above the dark blue line. Targets would be the median line and the lower pitchfork line, with the stop trailed to the upper trendline. This is a technique called median line trading. Let's see how this pans out. Posted by Picasa

20051220 10:23 am. A pattern worth monitoring of a symmetrical triangle or wedge->FKLI poised for breakout of congestion. Posted by Picasa

Wednesday, December 14, 2005

20051214 10:19 am. Progress upwards continues on the break out of the channel. A target would be the width of the channel 10 pts extended upwards to 902.50. Posted by Picasa

Tuesday, December 13, 2005

20051213 3:28 pm. Testing and trying to break the top of the range. Posted by Picasa

20051212 Closing. The breakout in the morning was a false one, turning into a fake out. FKLI did it's own thing disregarding the strong gains in regional bourses. This is a characteristic of a market shunned by foreigners, save those who 'speculate' n the value of the ringgit. Pattern is sideways, looking for breakouts would be the horizontal line levels. Posted by Picasa

Monday, December 12, 2005

20051212 8:45 am. Gaps up on opening. Nikkei 225 futures +270. This is a beak out of 2 'triangle' patterns, which could lead to follow through. Let's see what happens. Posted by Picasa

Friday, December 09, 2005

20051208 'Grail' buy is yielding anwhere between 3 to 5 points. Posted by Picasa

Thursday, December 08, 2005

20051208 12:36 pm. This setup is called the Holy Grail. 45 min chart fkli is in a strong trend s the ADX is greater than 30, starts to pull back, along with prices to the 21 ema. Long trade is signalled with a target of retesting the highs 892. Posted by Picasa

Wednesday, December 07, 2005

20051207 3:58 pm. Classical technical analysis would suggest the triangle breakout pattern ha reached the target equal to the height of the triangle. The disciplined trader might take profits and reassess the next setup. Posted by Picasa

20051207 Fib retracement provide target levels to scale out of long position. Posted by Picasa

Tuesday, December 06, 2005

20051206 Close: A breakout from the triangle pattern, target could be 886 to 888 area. Posted by Picasa

20051206 3:20 pm. Trapped in between the trendlines in a range. Needs to break out either side for the trade. Posted by Picasa

Monday, December 05, 2005

20051205 10:14 am. Trying to get to the point of beginning to fill the gap. This is one situation where 'bottom fishing' has high probability of success. Posted by Picasa

Thursday, December 01, 2005

20051130 FKLI gap down today, forms a possible trade pattern called a Wolffe Wave, to buy at the market on the touch of the lower trendline, and with the gap upside, good probability of profitable trade. Posted by Picasa

"There is the plain fool who does the wrong thing at all times anywhere, but there is the Wall Street fool who thinks he must trade all the time."J Livermore Manchester City FCl Crude Palm Oil


From Dragons and Bulls by Stanley Kroll
Intro and Foreword
The Importance of an Investment Strategy
5 The Art of War, by Sun Tau (circa 506 BC) and The Art of Trading Success (circa AD 1994)
That's the way you want to bet/a>
Long-term v Short term trading
Technicals v Fundamentals
Perception v Reality
Part 1: Winners and Losers
Part 2: Winners and Losers
Sun Tzu: The Art of War
Those who tell don't know, those who know don't tell
Why there is no such thing as a "bad market"
The Secret to Trading Success
The Experts, do they know better?
Risk control and money management
Good advice
The 'good bets' business by Larry Hite
Don't lose your shirt
Ed Sykota's secret trend trading system