8 July 2009 @ 7.20 AM (Malaysia)
Fun-The-Mental
No significant red news - best day to trade purely using chart.
Technical
Price make a new low.. Breaks 300 SMA on 3rd attempt as i expected...
Price suggest bear..
4Hr Trend - Still uncertain; i still need to wait.. the criteria of my definition of trend still not confirmed.. Even though my bias is bearish based on price action; i will wait for more confirmation...
My next support is @ 150.9xx - 151.1xx... Can price reached this level today? I'm waiting for latest momentum reading (another 40 minutes).
Updated @ 8.10 AM
Daily momentum support further down.. I hope i can see the 4hr trend confirmation @ 12.00 noon today.. and then looking for swing trade after that. My scalp trade on Free Ride...
Updated @ 12.30 Noon
4Hr Trend - Confirmed Bear.. Momentum suggest further down..
Price may retrace to 1hr 5SMA... I will follow this intraday retracement for better entry for swing trade..
Updated @ 4.05 PM
4Hr Trend - Bear.. Latest momentum suggest another new low..
Price bounce from 150.96.. This morning i see support almost at this level 150.9xx - 151.1xx..
I expect price may retest this level soon..
My swing trade @ 152.00 triggered - MM within emotional level.. Either hit SL or TP; i don't care...
( Minda Aku Sekarang: Looking at the chart; i think price need to retrace to collect more attractive trader... then i can see clear breakouts.. So i must monitor this trade.. That the reason; my money at risk for this trade is only half than normal... )
Updated @ 8.20 PM
4Hr Trend - Still Bear.. This is the direction that i want to trade.
Last 4hr momentum didn't their job well.
I expect a new low, but 4Hr Candle end up with Undecision...
At the moment; the price either will retrace or continue the bear trend.. With bullish divergence seen everywhere; we may see a retracement up to 153.xx. If price retrace, price may hit my short stop loss because price may retrace up to 153.xx... However i will keep this short trade, At the moment i not intent to add any new trade until i see current 4hr CS to complete at 12 MN. This candle will give me a clue either price may resume the current trend or retrace up to 153.xx...
So.. i only will open computer again at 12MN.. Good Nite
By Owner of Caripips Blog
Fun-The-Mental
No significant red news - best day to trade purely using chart.
Technical
Price make a new low.. Breaks 300 SMA on 3rd attempt as i expected...
Price suggest bear..
4Hr Trend - Still uncertain; i still need to wait.. the criteria of my definition of trend still not confirmed.. Even though my bias is bearish based on price action; i will wait for more confirmation...
My next support is @ 150.9xx - 151.1xx... Can price reached this level today? I'm waiting for latest momentum reading (another 40 minutes).
Updated @ 8.10 AM
Daily momentum support further down.. I hope i can see the 4hr trend confirmation @ 12.00 noon today.. and then looking for swing trade after that. My scalp trade on Free Ride...
Updated @ 12.30 Noon
4Hr Trend - Confirmed Bear.. Momentum suggest further down..
Price may retrace to 1hr 5SMA... I will follow this intraday retracement for better entry for swing trade..
Updated @ 4.05 PM
4Hr Trend - Bear.. Latest momentum suggest another new low..
Price bounce from 150.96.. This morning i see support almost at this level 150.9xx - 151.1xx..
I expect price may retest this level soon..
My swing trade @ 152.00 triggered - MM within emotional level.. Either hit SL or TP; i don't care...
( Minda Aku Sekarang: Looking at the chart; i think price need to retrace to collect more attractive trader... then i can see clear breakouts.. So i must monitor this trade.. That the reason; my money at risk for this trade is only half than normal... )
Updated @ 8.20 PM
4Hr Trend - Still Bear.. This is the direction that i want to trade.
Last 4hr momentum didn't their job well.
I expect a new low, but 4Hr Candle end up with Undecision...
At the moment; the price either will retrace or continue the bear trend.. With bullish divergence seen everywhere; we may see a retracement up to 153.xx. If price retrace, price may hit my short stop loss because price may retrace up to 153.xx... However i will keep this short trade, At the moment i not intent to add any new trade until i see current 4hr CS to complete at 12 MN. This candle will give me a clue either price may resume the current trend or retrace up to 153.xx...
So.. i only will open computer again at 12MN.. Good Nite
By Owner of Caripips Blog
9 comments:
Slm bro & geng, jk TF Daily price tembus MA100, maka kenduri bear saje disweek la ye, heheee...
as'kum saudara..
firstly..happy anniversary!!tahniah.
2nd ly, nak tanya..bila saudara tgk bar CS H4 GJ pukul 12 tadi, saudara kata confirmed bearish..macmana baca tu ya? adakah sebab dia dah go low dan below price CS H4 yg sbelumnya?
Tq ya.
-reen-
Bro, kongsi info, analisa newbie, jk lihat TF Daily, UJ lower TL suda lpas, jk GU pun lower TL lpas, apa lg GJ buat, pakat SFB je ler... btol bro?
Salam Bro Putra..
Jika semua trader assume, breakouts di daily ialah head and shoulder.. then memang akan kenduri...
gj nk turun smpi mane boss?
Salam Reen..
Saya tengok.. wave.. price action dan si indi... kena xplain guna chart baru akan nampak... tapi cara terbaik.. u better defined ur way to determine trend.. and start to believe it. The best guide ialah guna price HH.. LL.. LH & HL... obsess dengan benda nie. satu hari u akan master dengan benda nie.. sebab practice + obsess.. anda akan nampak kelebihannya ilmu nie..
Bro anonymous..
150.9xx.. ialah Weekly Support.. Bila price bounce dari level tu.. saya expect.. big retrace at least 150 - 200 pips.. Tapi dia retrace 100 pips jer... so what i'm feel now.. price perlu retrace atau stay sideways untuk attract more trader.. then bila dia shoot bawah semula.. baru dia breaks level tu... Just opinion.
bro,gj da trun 3rtus pip tu..
Ahaa..
Itulah.. GJ.. don't care about anything including divergence.. Alhamdullillah... short trade yang disimpan tu pun dah kena TP..
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