Based on the STI chart, i observed a symmetrical triangle in the making. Now we are pending the breakout either to the upside or downside. 20 MA is supporting the price currently and has just turned. This is classic T.A versus indicator. keke A favourite question asked in my T.A course. Allow me to explain how do we make use of the above information to trade.
Step 1: We form an opinion base on the Triangle first. Where is the target price. Since it's a symmetrical triangle, is there something going on that the market is waiting. Here i conclude that earning season is underway and after the reporting season, price will break the triangle
Step 2: Base on the 20 DMA, since it just turned, probably i will wait for another retest at higher level before i even wants to use it as a support to track the price.
Step 3: Decision, i will hang on to my Allgreen short position until we breakout to the upside decisively.
I apologise for the lack of sharing in recent weeks as work is really full to the brim. Over the weekend, ChartNexus made another first, our CTA course reach the shore of Jakarta! At the same time, the same CTA course was being held in Singapore. A milestone reached! Going forward, it will be fun if we can link up the Singapore, Malaysia & Indonesia one day! :D
To buy or to short? To long, i will prefer to wait for further evidence of bull. To short, i will be looking at the break of the triangle to add my short positions.
DISCLAIMER: This is not an inducement to buy or sell. You should do your own analysis on top of my postings.
