Monday, May 04, 2009

Results from Tradersclub

Dearest all,

I just want to share some of the key homework done by the exclusive traders club over Saturday's ChartNexus TradeFEST. More impressive, this analysis is not done by me... it's done by the graduates... at traders club, they practise what they have learnt. Trainers are there to make sure the analysis is correct... Mastery comes from doing. As the lead trainer for the day, i added my experience in their analysis, especially on when to long or short and what works and what doesn't...

Resistance at 15.9k
Support at 13.9k
Now that Resistance at 15.9k is broken, we look to 17.3k to 17.6k to offer as resistance.
RSI consistently above 50% tell us that the current uptrend is intact. Also there is a turn in MacD from 4r1g.

If HSI has candlestick reversal patterns near the said resistance, and the same weakness can be observed from the other indices, then it will be a good chance to short. Otherwise we track the 20-day ma, if global indices broke that in unison, it is a good short.

Although on the weekly charts we saw 3 hanging men candlestick pattern, but there is no bearish confirmation candle. We observed that the current uptrend broke the 61.8% Fibo resistance, which means technically the previous downtrend has been compromised.
Resistance at 8.3k
Support is at 7.8k

Trading strategy will be the same as HSI. We need the global indices to show the same weakness before we short.

Support at 1781
Resistance 1960 but broken today already and we are currently trading right at the 200 day moving average as resistance. This is a formidable resistance because it confluence with the falling window. Next target is 2220 if we clear the resistance offered at 200 day moving average.

Now that it has broken the 6-month high, Please be patient to wait for the pull back before attempting to long. I rather miss the rally than being caught buying too high. Money is lost when we buy at the "high"... this can be very painful. Also dun be overly bullish until you miss "20th May 2008" where 3 stars aligned


There is a hanging man on the weekly. It will be bearish if we close this week lower and form a black candle confirmation on the weekly chart.

200-day MA is where resistance is but we broken today. To trade Kepcorp, watch the following:
1. High volume black candle
2. 20-day moving average broken along with other stocks in the same sector or accross the market.
3.If hanging man confirmed on the weekly chart.

Ascendas Reits:

Support is at 1.32; resistance at 1.50. 4g1r on the macd may signify pull back is over. Currently supported at 38.2% fibo support which confluence with 100-day moving average. The lead trainer of the day shared a very important message here: He questioned why AscendasReits is not going up despite other reits moving significantly higher. He never likes laggard and warns members to focus on those that are moving instead. Indeed, at today's closing, AscendasReits closed mixed... below par... as compared to other reits. No wonder the trainer is so likeable... keke


Resistance at 7.30 which is today's closing. We short only if we see high volume pull back and trigger CT1. Or if we break 20-day moving average in unison across the same sector. To long, you may deploy 38.2% fibo as support or you patiently wait for the next tt1 or 4r1g signal.

The tall and slim trainer also suggest that, when you want to trade one stock, remember to check the same stocks in the same sector for confirmation.

I know market has been crazily bullish... patience my friends...

DISCLAIMER: The contents in this website are for fun reading and must not be taken as a buy or sell advice. You must do your own analysis on top of my postings. By reading this blog, you agreed that i am not responsible for your trading.