Thursday, March 30, 2006

20060330 9:42 am. Hits the target at the uptrend line 926. Posted by Picasa

Wednesday, March 29, 2006

20060329 4:39 pm. For those short on divergence setup, a viable target wound be the red uptrend line below, around 926. Posted by Picasa

20060329 4:28 pm. Few points ot note on this 30 min chart. 1) Divergence between price and indicator 2) Price is coming to test an uptrend line. Could well be a setup for a divergence short on the April FKLI. Stop would be above the high. Posted by Picasa

20060329 April FKLI futures and the classic staircase pattern. Posted by Picasa

20060329 12:23 pm. Genting Bhd, since the breakout identified at RM21.60, now trades at RM24.40. Stock trading needs a certain discipline to be able to hold on to a winning position, and patience is very important. Posted by Picasa

20060329 8:59 am. Textbook stair step pattern in uptrend. Posted by Picasa

Tuesday, March 28, 2006

20060328 Big picture view of FKLI daily chart tells the story of the breakout Posted by Picasa

20060328 9:15 am. FkLI March contract update. Posted by Picasa

Monday, March 27, 2006

20060327 Close sees the FKLI near highs. Been a pretty nice moe since the breakout. Posted by Picasa

20060327 9:00 am. FKLI opens gap up and reache target.(width of previous sideways consolidation) Posted by Picasa

Sunday, March 26, 2006

20060324 FKLI closes 926, well on the way to the breakout and maybe targeting 930 the resitance level. Reviewing a little on what factors put a good case for long trade: A Symmetrical triangle breakout B Moving avg crossover-path of least reisistance is up C MACD histogram momentum positive. Posted by Picasa

Friday, March 24, 2006

20060324 10:45 am. FKLI broke upwards out of the consolidation range. If KLCI cash can maintain gains to the close, we might have MACD confirmation on cash index upside breakout. Posted by Picasa

Thursday, March 23, 2006

20060323 Few points of note. Daily FKLI breaks out f symmetrical triangle, an the market has been rangebound.(building up energy)

Friday, March 17, 2006

20060317 Lunch session break. KLCI cash trapped at support levels. However might turn uptrend, with stochastics unable to break down and MACD poised to confirm uptrend. Posted by Picasa

Tuesday, March 14, 2006

20060314 3:52 pm. Daily timeframe cash KLCI chart provided some clues to future bullish direction. Posted by Picasa

Thursday, March 09, 2006

20060309 e:38 pm. the breakout bar (see rectangle area) came on the gap up bar today. Symmetrical triangles, or consoidation patterns can sometimes be a clue to what is about to unfold. The key is patience, unlike yesterday where we tried to force shorter trendline breakout, which in the end did eventually work. Let's review what made the odds in this trade: 1) A period of consolidation in triangle/wedge (building up energy) 2) RSI momentum above 50 and strong and 3) This morning the Japanese Nikkei 225 futures had a strong parabolic run up. (normally this is extraneous, but toda was a strong enough supporting factor) Posted by Picasa

Wednesday, March 08, 2006

20060308 4:35 pm. FKLI 30 min chart shows consolidation within triangle. Would look for break out either side. Posted by Picasa

Tuesday, March 07, 2006

20060307 9:43 am. The pattern did materialise as a form of divergence, however volume traded at the lows was very thin, making this bounce trade difficult to execute. Posted by Picasa

Sunday, March 05, 2006

20060303 60 min chart of spot FKLI. Convey some important pieces of information for a possible capitulation type trade, maybe for a bounce. Posted by Picasa

Friday, March 03, 2006

20060303 Close. Daily FKLI chart shows classic Head & Shoulders pattern that broke the neckline 2 March. In hindsight it is always easy to identify this reversal pattern, the trick is to recognise it in real time trading. The normal target would be to project the height of the head down, which would be 934 - 920=14 FKLI points. Target should be around 905-906. Posted by Picasa

20060303 Bear flags and pennants in the downtrend. Of note is the RSI which consistently stays below 50. Posted by Picasa

Thursday, March 02, 2006

20060302 12:13 pm. The previous "picture tells a thousand words" chart of the cash index is borne out in the down move in FKLI. The cash KLCI chart showed both indicators pointing down, with price downmove confirmation, 3 factors that support the short bias. Posted by Picasa

20060302 8:51 am. Cash KLCI chart: A picture is worth a thusand words. 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