Ramsy11, thanks for the kind words. I am sharing my method of entering of any stock and it could differ from many other traders as I am a short term trader.

1) The only right time for me to enter a stock is when I have identified a strong support and a possible Target, my collection will start when it is trading as close as possible to that support. As long as Rewark/Risk ratio is more that 1.5:1 I will take the trade.
2) I think your allocations of 20% is reasonable for your portfolio. I would do about the same too.

KLCI I think SF had done the analysis earlier, please refer to his earlier post.

Happy Trading..

02/06/2014

Every week TCB will pick a few stocks we may like to trade short term and put in *Stock In Focus*, please do not take this as a buy signal as our TA reading for those stocks are for sharing purpose only.

STOCK IN FOCUS ( Short Term Trade)

SCOMIES—Breakout from the Double Bottoms on Friday with increased volume at $1.04 which has an immediate target of $1.12 with immediate resistance at $1.08. Any weakness due to the overbought position should find immediate support at $1.04/$1.02 and very strong support is at $1.00. Any weakness offers buying opportunity for future play. A break above $1.12 will take it to its previous high of $1.17 and Target 2 of $1.20. Short term trading Range estimated to be $1.02 to $1.12. Stop Loss if $0.96 is violated with volume.

Happy Trading and Good Lukcs !!

jonny cash, Yoda have done the chart for Scicom on May 26th.

# Scicom: close very bullish last Friday trying to breakaway frm the BB upper band.Momentum was rising and you have bought into it can hold for the mrkt sentiment to stabilized. Traders can take position if it holds above 1.08 level. A break out of the bullish penant will create a new high.
Resistance 1.12, 1.18 and mid term resistance 1.30
Support 0.995 and 0.95 #

Yet to break $1.12( went to a high of $1.11 very close to what Yoda suggested), very bullish stage 2 of the cycle. Any weakness should find immediate supports at $1.03 and those supports suggested by Yoda.

Happy Trading..

Connie, don't worry, we will meet at TCB..

I am happy for you because i know you are a very keen learner and i am sure you will be a master soon at EW one of these days..Ya, i know it is not easy in EW, i tried and failed miserably, so I gave up and use simple 4 stage cycle.

Good Night..

connie, thanks.

I need to end it to spend more time in the TCB, do visit us and help those that need help on TA sometimes. How is your waves reading getting on? profitMan confuses me some time with his waves counts (jokes!)

It is always nice to hear from you, have a nice evening..

Thanks...C u in TCB soon..

When are you coming back from Sarawak? If in Kucing must try their Ko Lo Mee, really nice.Dont forget to bring back their white pepper !!

Happy holiday..

City Trader,

Haven't heard from you for awhile.It is always nice to hear from you..


The stocks i trade normally $1.00-$3.00 not many newbies trades at this range, i found out most new traders trade counters below $1.00.
Also, I have open my whole account for 1 year I think that is long enough.

We had started TCB and want to spend more time there helping more investors, i can read more charts below $1.00 for them.

Hopefully can see you more often in TCB and help out as i know you are good in trading.

Have a nice weekend..

SUMMARY FOR MAY 2014

Today is the end of my Thread, I want to say thanks you to all Forum investors for supporting my thread over the year. I have opened my account for the full year and shows that if we can trade with a trading plan, be disciplined, take your losses early and cultivate habits of profits taking you can actually make money in the Stock Market.I would not post anymore on this thread and if you have any query about the old stocks, please post them at TCB and I will be more than happy to reply your queries. (Those that are still holding the old stocks can also email me at matrixcool02@gmail.com)

May has been a reasonable good month for me overall. I closed 7 trades and 4 making money, 1 to release my capital and 2 losing trades.
Summary as follow:

BARAKAH—SOLD and lock in 5% profits.
BORNEO OIL—Sold at 8% losses
HEVEA—Sold and lock in Av 10%
JAYCORP—Sold and lock in Av of 8.8%
MINHO—SOLD and lock in 15% profits
PANTECH—SOLD to release my capital
WASEONG—Sold at a Loss of 4%

The stocks I am still holding going into June 2014:

BREM ( 0%)
ENGTEX ( -4.1%)
PRTASCO (+3.1%)
WCT (-4.8%) not including dividends that I am entitled.

I will update these 4 stocks in TCB whenever I deem necessary and definitely let you know if I am selling them.

Happy Trading and see you all at TCB..

Christie, a very valid question for TA discussion. Everyone trades differently and analyze charts in different way too. I would like to share with you my way of understanding Support and Resistance.

First, it is very important for TA to actually understand Support and Resistance and whether it is a strong or weak support/Resistance. Some use SMA, Fibonacci etc so it is up to individual TA, I just answer according to your questions on Support/Resistance base on Candlesticks and volume.

a) Support—In a TA book (Short term Trading), mr Toni Turner uses a good example; Imagine you are in a room, you hold a ball and throw it upward. The ball will hit the ceiling and the ceiling prevents it from rising higher. Now the ball fall back and hit the floor, the floor prevents it from falling further. So your floor/ceiling is your Support and Resistance.
b) Every stock is like the ball in a), you must allow some leeway because every stock is different. That say a support/Resistance is at $1.00, if it does break below $1.00 say $0.99/$0.98 as long as it bound back above $1.00 the support is still $1.00. Same scenario as Resistance. BUT if a Support/Resistance is broken with BIG volume, that mean that level is violated.
c) The scenario you are referring on your item 2)& 3) sound like you are referring to Rectangle Trading , if so your analysis is correct. But remember, if a stock is trading on Ascending Channel, Triangles etc, each time the Support and Resistance or one of them change values.
d) A Bullish candle formed after rebounding from a support is significant candle.It confirms the support is holding well. A Shooting Star, Doji etc at the resistance confirm the opposite.
e) Volume is the 2nd most important features in TA beside Price. The rebound from support accompanied by volume confirm the support or vice versa at Resistance.
f) When you mentioned tail I would presume you mean Long Lower Shadow of a Candle like Hammer etc. Ya, they are important at Soupport/Resistance level. Candle can only tell you there is a bullish/bearish reversal but it cannot tell you for how far and how long. You need to work out the next Support/Resistance yourself. (Please note a Price reversal does not means a Trend Reversal, don”t get confuse).

Christie, I mentioned to you about Candlesticks because I am using Candlestick charts. Some TA may not agree with candlestick patterns. It is up to individual TA to use their own interpretation and I respect that. I would advise you to get a book on Candlesticks because there are so many patterns I cannot do it here. If I were to explain every candlestick pattern, it will be a book length.

But if you can fully understand Support and Resistance with Price and volume action, you can actually trade any stock using Support and Resistance.

Happy Trading and have a nice weekend..

Anyone can help Sp BoiBoi here about the L&G LA ? I am not sure whether you are entitle for the dividends or not?

Lz Lee Weiping, thanks for helping jass on Presbhd.

Just like to add the following notes:

Jass,

The Gap that Lz was mentioning refer to the Fallen Gap(Breakaway type which has bearish implication) of $1.78/$1.82 now is acting as an immediate resistances.We cannot be sure about the time of 1 week that the gap will be filled, but if support of $1.72 is violated with volume it is definitely heading south to $1.63/$1.58 and $1.40. So if you are buying this counter do set an exit if $1.70 is violated.

johnny cash—We will look into all your counters over the weekend.

Happy Trading..

profitMan, thanks for the inputs on BIG.

Like to add the following notes:

BIG—Stage 3 of the cycle or what we refer to Distribution stage.Breakdown of its uptrend line at 28/05 and imply bearish sentiment may continue.Do observe the important support of $0.67 (mention by profitMan) closely if this level is broken it begins stage 4 of the cycle which is to be avoided at all costs.

Happy Trading..

profitMan, that is confusing..sub waves within sub waves..How confusing can EW be..
Thta is why i could not handle waves, really admire those that did well on EW..

Happy Trading.

Dino Limo --My reading for MINHO

MINHO formed an Engulfing Bear (which is normally very bearish) today, but because it has been on the downtrend and I suspect this could be the last “Engulfing Bottom”. Need a confirmation candle tomorrow and if it closes above $1.08 then it indicates a bullish reversal and you can expect more rebound. If not more downward can be expected to next supports of $1.05. The break below $1.15 has violated its uptrend line and any rebound may find the resistance(Support turns resistance) on this line. (As of today it reads $1.15/$1.16).

Sorry i can not help you in Waves, profitMan maybe able to help or any TA can do waves that to help Dino here.

Happy Trading and Good Night.

30/05/2014

ENGTEX—Not out of wood yet. If break above $1.87 signal price reversal for short term to $1.90/$1.93 (Gap Resistance).

PRTASCO—Sideways trading Range $1.92 to $1.98, consolidation may be over soon because the upward momentum has increased. Expect to test the immediate downtrend line of $1.98 if break will try $2.00/$2.04.

WASEONG—As per my posting last night, it may have found the last engulfing bottom at $1.93 because today it closed above $1.96 and formed a Bullish Harami. This could be a possible Bullish Reversal but need tomorrow candle to confirm. If break and close above $2.00 signal BUY and I may add more shares. Otherwise the downtrend can continue.It is not out of the wood yet, but more rebound can be expected to $2.00/$2.02 and strong resistance at $2.05.

Happy Trading and Good Night..

Dance > SF ccovers​ Unisem. He ​will mots likely reply you tonight after his works.

Happy Trading..

christie,

You are right on K1 Support and resistances..R=$0.385/$$0.40, S=$0.37/$0.36.

Now you can see a bullish Hammer does not means anything if it cannot break above its immediate resistance.

Happy Trading..

Christie,

Dragonfly Doji—Any doji is a signal that we traders pay attention to, unless the stock is sideways moving then most of the candles you can ignore them.When a stock is going no way do not bother to read indicators, candle pattern etc.You will be wasting your energy and time.
For K1, the Doji during the downward movement does carry an important message. The dragonfly formed when the sellers first press the stock down, but later the buyers come in and push the stock back up. It has bullish implication during downward movement, especially in oversold position that price reversal may happen on the next candle.How far the price will reverse you need to find the next resistance for K1.

Dragonfly doji normally formed on average or larger daily range.

Happy Trading..

Lz Lee Weiping ,

I use a 4 stages cycle to read my charts. It is simple and quite straight forward if you master it. If you look at your chart(any chart) you will see that the pattern always repeat itself in a shape that looks like a SINE WAVE. The Full cycle may take weeks, months to complete.

Stage1: The stock price is at their lows, it moves sideways and trade within rectangle trading.The stock is forming a new base. (Indecision stage)

Stage 2-The stock breakout from the base and explode upward movement. The price will rise and pull back and rise again and finally euphoria. (This is where traders want to be in)

Stage 3—Most traders feel the price may be too high and they start to sell,buyers support the price when it fall and sellers press the price down when it rises and stock drifted sideways into stage 3.( Distribution stage)

Stage 4—With increasing selling pressure buyers refuse to support and the stock heads south to stage 4.Avoid at all cost.

Happy Trading..

Christie, yoda did a good analysis on LBalum for you.
A Hammer means there might be a price reversal, it is bullish after retracement in this case like LBalum, candlestick cannot tell you how far it will go and for how long.For LBalum, the rebound may meet strong resistance at $0.71 (its immediate downtrend line), LBalum turns bullish if can break and stay above $0.71 and to those targets Yoda mentioned.

Yoda thinks you do not apply Stop Loss that is why he suggested you may want to do zone buying when the counter come down to its strong support. Generally, we believe if you are wrong, you should take your losses early and only average when the price reverse like LBalum if it breaks $0.71 with volume.

Buying and Selling you need to make that important decision yourself.

Happy trading and good night..

29/05/2014

WASEONG—Waseong almost violated my Stop Loss today, it formed an Engulfing Bear (which is normally very bearish) today, but because it has been on the downtrend and I suspect this could be the last “Engulfing Bottom”. Need a confirmation candle tomorrow and if it closes above $1.96 then it indicates a bullish reversal. Downward momentum has slowed down,more rebound can be expected to $1.97/$2.00.

I am selling remaining shares of:

3A –After the Doji formed yesterday it move above $0.90 today imply some price reversal is on the way.It may have found a new bottom at $0.875. It is expected to test its immediate resistance at $0.925/$0.945. The landscape of 3A will change to be very bullish if it can break and close above $0.945( consolidation break out and to start stage 2 of a new cycle) to challenge $0.97/$0.99 and target of $1.02. Any weakness should find support at $0.885, Stop Loss if $0.875 is violated.

Happy Trading and good night..

Lz Lee Weiping ,thanks for sharing your TA analysis.

GLOMAC—Stage 4 of the cycle ended at the new bottom of $0.98 on 28/08/2013. It is now in stage 1 of the cycle (Consolidation/Accumulation stage) trading inside rectangle trading from $1.05 to $1.17. When a counter like GLOMAC which is moving sideways do not read too much into every individual candle. If you are bottom fishing do set a exit if $1.04 is violated.

SAPIND—Stage 2 of the cycle and very bullish.Just breakout from $1.64 which carry next target of $1.74. What you noticed is price/MACD form bearish divergence.

Happy Trading..

christie

DAYA($0.40)—Very bearish,may have found a new bottom at $0.31 which was tested on a few occasions, if this is indeed the new bottom, then it may start stage 1 of a new cycle.(Consolidation/Accumulation stage). It is trading inside Rectangle trading of $0.315 to $0.345. A break above $0.345 it is expected to find strong resistance at $0.37. A break below $0.31 spell more trouble mean stage 4 of the cycle has not completed yet.
You were caught at very high prices of $0.40, TA wise unless it breaks above $0.37 with volume, then it may fill the Fallen Gap of $0.405/$0.385 for you to get out. But the problem with this stock it has many overhangs to clear, any rebounds will invite sellers like you who were caught to clear their stocks.

Happy Trading..

profitMan, Very good analysis of Affin.. We all learnt something from you here. Thanks

Christie, you need to learn to take your losses early and do have an exit plan before you buy into any stock.

Happy Trading..

Christie

INARI-Wa ($2.44)—Weekly chart,Stage 2 of the cycle and forming Flagpole Pattern which has bullish implication in mid term. It is consolidating inside the pennant of $2.25 to $2.50, a break above the pennant will take it to the previous high of $2.55 and into uncharted territory in mid term.

Daily Chart—It is still under consolidation and trading inside rectangle of $2.18 to $2.50. In Rectangle trading, traders will buy near support of $2.18 and dispose when near to $2.50, your price of $2.44 is on the high side of rectangle trading. Volatility is extremely low some technical rebound could be expected due to oversold position,any rebound should meet immediate resistance at $2.35 /$2.40. A break below $2.18 spell more trouble because the next meaningful support is at $2.03/$1.98.

Happy Trading..

Dino Limo ,

Gap is very important feature in TA, to read the gap properly is very important. There are 4 types of Gap and each carry different meanings.
a) Area Gap—very little Technical Significance inside sideways trading.
b) Breakaway gap—Very bullish must accompany with volume.
c) Continuation Gap—Normally means the trend is at the ½ way point either up or down.
d) Exhaustion Gap—Normally, follow by sharp price reversal and must accompany by volume as well.
I cannot comment on the indicators because I hardly use them except RSI to confirm the Divergence.
Candlestick I have mentioned earlier, not only the type the location is important to add significance of that candle.

Hope this help.

Dino Limo & yoda88, just to share my thought on MMODE

MMODE—Breakout from the “Cup and Handle” pattern with volume on 20/05 at $0.63 signal Buy, and closed the gap of $0.67/$0.63 on the same day. It carries an immediate target of $0.70 (which was hit today) and a final target of $0.785 in the mid term. A break above $0.70 it expects to meet resistance at $0.73/$0.75. Any weakness due to the overbought position should find strong gap support at $0.66/$0.63 which offer buying opportunity for future play.

Dino, my suggestion to you is don”t read too much into indicators, it will confuse you. A black candle like today means nothing except it may start consolidating. Remember to keep the chart reading simple and not try to interpret every candle. The location of certain types of candle is more significant than wasting our time to read the meaning of every candle or every indicator.

Hope this help and good night.

27th May 2014

ENGTEX—Trading range of $1.84 to $1.88, very bearish, Need to close above $1.90 for price reversal. the Price/RSI had formed Bullish Divergence for past 3 days, that means undertone is stronger than thought and some accumulation is going on at this level. I am also starting to add more shares at $1.84/$1.85 level to lower down my average. Some rebound is expected soon.

PRTASCO-- Trading Range $1.90 to $2.04. Expect to test the immediate downtrend line of $1.98 if break will try $2.00/$2.04.

Happy Trading..

Dino Limo--We know you just bought the metastock software.

Why don"t you read the charts of the 3 counters you mentioned and share with us. We will add notes if necessary and in that way it can speed up your learning progress in TA..

Happy trading..

Yoda, thanks for helping ck out on Frontkn.

Just a note to add: For more conservative traders you can also set stop loss if $0.11 is violated as Yoda mentioned the strong support is at $0.11.

Happy Trading..

angie80

INSAS—very bullish stage 2 of the cycle and forming FlagPole pattern on weekly chart, it is under consolidation inside the bullish flag pattern .Daily Chart—After hitting high of $1.36 on 03/04 forming a “Spinning Top” at the top imply some pull back which it did. It has found a new base at $1.18 and rebounded from this level on few occasions but failed to clear its previous top to carry on its upward movement. Immediate resistance adjusts to $1.26/$1.28, a break above this level signal breakout from its downtrend line and it should move to test its previous

Happy Trading..

Bayam79 , when we identify any new counter we will post it under Stock In Focus.

ck ,Yoda is covering Frontken for you.

Happy trading..

26/05/2014—Weekly Summary

1) BREM-- AV Price=$2.03 (Closing=$2.03 , P&L= 0 %), Stop Loss (2)=$2.00(If violated)
Risk= -1.50%. Tp1=$2.20 , TP2=$2.26/$2.30. (Exp Trading Range $2.02 to $2.12 ).
Note: It is settling into a tight trading range of $2.02 to $2.12 with immediate resistance at $2.08. The volatility is extremely low implied some price action could be happening soon. The Price /RSI started to show divergence so undertone is weaker than thought. The first sign of weakness if break $2.02 it may move downward to next support of $1.96. I have raised my Stop Loss from $1.90 to $2.00 take a small loss of 1.5% to release my capital.For mid term traders your exit is $1.90 if violated. (LV x2) ( P/RSI Bearish Divergence x2).

2)ENGTEX-- AV Price=$1.92 (Closing=$1.85, P&L= -3.60 %), Stop Loss(2) =$1.79. Risk= - 6.70%. Tp1=$1.98(Exp Trading Range $1.84 to $1.98).
Note: Engtex has turned Bearish after the big fall with a fallen window on 16/05, it has been testing my Stop Loss level of $1.84 since then. The downward momentum has slowed down and Price/RSI has formed Bullish divergence imply some accumulation is at around this level.Some rebound could be expected soon, any rebound will find immediate Gap resistance at $1.90/$1.93, strong resistance is at $1.98. I will reduce my Stop Loss from $1.84 to $1.79 to give the stock more space to breath raising my risk from 4.2% to 6.7%.STOP LOSS (2)=$1.79

3)PRTASCO-- AV Price=$1.89 (Closing=$1.93, P&L= +2.0%), Stop Loss=$1.80 . Risk= -4.8 %. Tp1=$2.00/$2.04 , TP2=$2.10/$2.14. (Exp Trading Range $1.90 to $2.04). Note: After breaking out of its Flag pattern on 12/05 and hit my TP1 of $2.00/$2.04, it has failed to scale higher as anticipated. The upward momentum has increased lately and a break above $1.98 and it is expected to retest my TP1 of $2.00/$2.04 .
Any weakness will find immediate support at $1.90 and strong support at $1.86/$1.85.

4)WASEONG-- AV Price=$2.01(Closing=$2.00, P&L= 0%), Stop Loss =$1.94, Risk= -3.50 %. Tp1=$2.18, TP2=$2.29/$2.30(Exp Trading Range $1.97 to 2.10).
Note: It broke down from the bullish pennant on 20/05 which has bearish implication. The only good thing is the broke down is without big volume and it tested its strong support of $1.97 and hold. Now it is developing into a Descending triangle which normally follow the direction of the slope which is bearish. But like any triangle the most important factor that determines the trend is the direction of the breakout. The downward momentum has slowed down imply $1.97 is holding well, with extremely low volatility so some rebound to immediate resistance at $2.02 and strong resistance at $2.06 is anticipated. A break above $2.06 with volume signal breakout and it is expected to test $2.10 and if break will test my TP1 of $2.18 & beyond. A break below $1.97 spells more troubles and I will take my losses if $1.95 is violated. (For mid term traders Stop Loss level if $1.82 is violated).

5)WCT-- AV Price=$2.263(Closing=$2.15, P&L= -4.86%),Stop Loss (3) =$2.10, Risk= -7.20%. Tp1=$2.37/$2.40, TP2=$2.50/$2.55 (Exp Trading Range$2.15 to $2.24.
Note: After the dividends, the price of WCT took a beating. It violated the strong support of $2.18 with volume, which is a worrying sign. For short term traders, WCT has turned bearish and downward momentum has increased, a break below $2.15 expects more trouble towards next supports of $2.10. Any technical rebounds because of oversold position will find immediate resistance at $2.18/$2.22.

I sold all my:
a) HEVEA locking in av of 10% profits.
b) JAYCORP locking in Av 8.8%

I am selling remaining shares of:
3A – May cleared all the remaining share to release my capital. 3 Black candles for the past 3 days imply a bearish trend. Any rebound will find resistance at $0.92/$0.925. immediate support adjusts to $0.89.

Note: This is my last weekly Summary for the thread. I will make a final conclusion for the thread at the end of the Month. After that, any update of the stocks from this thread will be posted on TCB in JUNE. That is, I will only update if there is any movement of the stocks.
For those that are interested in the stocks from $1 to $2++ which I am trading, please email me at :
Matrixcool02@gmail.com and I will let you know any new stocks I am buying.

Happy Trading and thanks for the past year support of my thread.

Thanks everyone for the kind words, We really appreciate it. We promise to do our best to help those that need TA on their stocks.

tcyee

ASTRO—Very bullish stage 2 of the cycle, break out from round bottom formation on the weekly chart which carry an estimated target of $3.70 in mid term.
On Daily chart, breakout from Ascending triangle at $3.40 on 19/05 with volume, which has an immediate target of $ $3.60/$3.64. After the breakout the support of $3.40(Resistance turns support) was tested a few times and last Friday it closed at $3.50 confirm the support of $3.40 holds.It is expected to test the target I mentioned. Any weakness due to overbought position offer buying opportunity for future play.
Congratulation you are on a winner and to trade counter at stage 2 cycle, we would recommend you set a trailing stop just in case there is a big pullback.

Hope this help.

elfiehew

TROPICANA-WA—After hitting a high of $0.835 on 02/04 and formed a long legged Doji on top which imply some consolidation to begin. It is under consolidation and the big pull back to recent low of $0.65 must have shaken out lots of traders. The new bottom of $0.65 holds for the past 3 days and may form the new base for it to rebound. Any rebound should find immediate resistance at $0.69 and strong resistance at $0.72/$0.73 which is the gap resistance formed on 12/05. I am not sure what price you bought in but be concerned if $0.65 is violated as the next meaningful support is at $0.60. As the counter is still bearish if you are bottom fishing do exit if $0.60 is violated .

Hope this help.

inwest88—Thanks for the kind words..It is nice that traders appreciate our works and we are here to share and learn together. We promise to do our best to help those that need TA on their stocks whenever we are free to do so.

Livermore,

BJAUTO—Thanks wokan for your inputs. For a longer time frame will like to add the following notes:

Very Bullish and stage 2 of the cycle on weekly chart. It is forming Flagpole pattern which has bullish implication in mid term.
On Daily chart, what wokan said is correct but due to very long period of consolidation from high of $2.27 on 09/04 until now, the Flagpole pattern is developing into a “Descending Triangle” which has bearish implication. (The trend normally follows the slope of the Triangle). But with any triangle the breakout from a triangle formation is more important than the type. For short term traders you may want to exit if $2.00 is broken with volume. Likewise, if break above $2.13 with volume signal BUY as it breakout from the triangle signal more upward movement.

Have a nice weekend.

livermore ,kheng ,noisyboy ,lfctrade

TCB will look at the charts you requested over the weekend.

Have a nice weekend..

winwinborn ,thanks for sharing WCT..

Chart wise not as attractive as what they said..Ding Dong $2.18 to $2.29..

Happy trading..

FAST_5, you are right everyone buy stock with different trading strategies, even TCB we trade differently. I can only speak for myself here.

The only right time for me to buy a stock if the Rewards/Risk ratio >1.5 min then I will enter a trade, and I must be able to identify a ‘Strong Support” which if violated will be my Stop Loss level. I will only “Scale In” more share if the stock breaks its Strong resistance with volume.

profitMan, , FAST_5. thanks for the inputs on WTK.

rooster57

WTK—Very Bullish stage 2 of the cycle on the weekly chart, need to clear the strong resistance at $1.49 to try next target of $1.57 in mid-term. On daily chart, it is forming Symmetrical Triangle and trading inside the triangle at the moment between $1.34 -$1.43. The Symmetrical Triangle is normally followed by continuation of the trend that preceded it which in the case of WTK has Bullish implication. Still, the direction of the breakout of the Triangle is the most important factor that determine its future direction.A break above $1.44 with volume signal breakout ( also BUY signal) to take it to the target I mentioned and beyond.For short term trader you may want to exit if $1.32 is violated with volume.

Happy Trading..

tonylim, hi and agree with you..

sephiroth has been picking many winning stocks base on FA..
My salute to him for his hard works and patient..
How about you, what stocks are you in?

Happy trading..

sephiroth, well done !!

First they ignore you, then they laugh at you..
Now they know who is the winner..

Congratulation and do come and visit us more often with some good FA counters..

Happy Trading..

Gji Gan , ya it is the hardest part of trading when it comes to selling. I know i had been there before. Now i just execute my plan accordingly without emotions of Greed, Hope,Ego and Fear.

Once you master these 4 factors, you will be Ok in the market.

Remember, we win some and we lose some, important is to minimize our losses and try to ride on the winner as long as we can to maximize our profits.

Example HEVEA, yesterday my Trailing Stop was at $1.43 and today I raise it to $1.47 after it broke above $1.50.

Happy Trading and Good Night..

23/05/2014

1) 3A—Shows more weakness today, 3 black candles past 3 days, bearish trend to continue. Price is temporary stabilizing around $0.90/$0.945.

2) BREM—Has turned bearish for the short term, may test immediate support at $2.02. I have raised ny Stop Loss if $2.02 is violated with volume to release my capital.

3) ENGTEX—3 black candles for the past 3 days imply the bearish trend should continue. BUT as I mentioned last night the Price/RSI has formed Bullish divergence imply some accumulation is on at around this level.Those traders that are holding ENGTEX I would suggest to give it more space to maneuver so that we won”t be caught in the Bear Trap if it break $1.84. I will reduce my Stop Loss from $1.84 to $1.79 to give the stock more space to breath raising my risk from 4.2% to 6.7%.STOP LOSS (2)=$1.79. The reason for this action is because I am confident ENGTEX will rebound strongly due to the Bullish Divergence. Still the counter is bearish and yet to fill the gap of $1.90/$1.93 as mentioned earlier in my posts. So those traders that are still holding on Engtex do make your own decision ok?

Today I sold: the remaining 50% of JAYCORP av $0.835 to lock in 8.4% profits.

I am still selling:

a)HEVEA (Reaming 70%)—Today it broke above $1.50 and managed to stay above $1.50 which is very encouraging.It is expected to try my TP2 of $1.58/$1.60. Any weakness due to the overbought position should find support at $1.50/$1.48. I have increased my Trailing Stop to $1.47 to protect my profits.

b)3A (Remaining 80%)—May clear more on any rebounds.


Happy Trading and Good Night..

senyi88,

I did the chart reading for SONA on 20/05, it is under consolidation after the breakout from Symmetrical Triangle.

#SONA—Breakout from Symmetrical Triangle 2 days ago with volume, it is very bullish and should be testing its previous high of $0.62 soon. A break above will take Sona into uncharted territory with targets of TP1=$0.66 and TP2=$0.70/$0.73. Any weakness during consolidation may find immediate support at $0.585/$0.58 and strong support at $0.56/$0.55.Exit if $0.535 is violated.( 20/05) #

Happy Trading and Good Night..

Gji Gan , For AAX the Stop Loss level is if $0.74 is violated. That mean stage 4 of the cycle is not completed and to be avoided at all cost. If $0.74 holds, any rebound should find resistance at $0.795 and strong resistance at $0.815.
For trading the most difficult part is selling and you need to make that decision yourself.
For me, sometimes I sell during rebound to release my capital or take a small loss for future trade.(Then everyone trade differently).

In TCB we encourage traders to trade with a plan when the stock moves against us as Chart can only use as a guide only.

FAST_5 --Thanks for your input on SONA.

Thanks Sephiroth for highlighting PJD & its WC-appreciate your inputs.


Happy Trading..

profitMan, novice8,

JAYCORP—profitMan, you are right about the “Engulfing Bear” formed today that imply the bull momentum may shift to Bear..

For conservative traders, you may want to wait for tomorrow candle, if close above $0.795 it may have the chance to challenge the "Engulfing Bear" at $0.845 again.

Happy Trading..

ProfitMan , you made an important comment on TA about volume.
TA believes volume confirms the Price action..
If the price advance and volume contract, we call it Price/Volume divergence and vice versa..

Happy Trading..

Lz Lee Weiping

TDM—After hitting high of $1.13 it has a big pull back to a new low of $0.96, the big pull back must have shaken out lots of traders. It rebounded to $1.02 but have failed to clear and stay above $1.02. It is trading sideways between $0.975 to $1.02 with strong support at $0.96. A break above $1.02 will take it to its next strong resistance at $1.06, unless this level is taken out with volumes TDM may trade sideways for a longer period. Exit if $0.95 is violated.

profitMan, you did THPLANT earlier, anything to update on this counter ?
Happy Trading..

Lz Lee Weiping

# KRETAM—Found the new low at $0.535 which stage 4 of the cycle ended. Now it is at stage 1 of the cycle, it is expected to trade between $0.585 to $0.65. A break below $0.585 spells trouble may retest its previous low of $0.535.A break above $0.65 may find strong resistance at $0.685. The trouble with this stock is it has lots of overhang to clear. If you are bottom fishing, make sure you exit if $0.535 is violated.# ( March 2014)

I did the chart reading for KRETAM in March, the scenario remains the same. Stage 1 of the cycle, sometimes takes weeks/months during this consolidation period (Or we refer to Accumulation stage).

Happy Trading

cherry tomato , profitMan or Sf will update GHLsys as they are covering the counter.

If you follow my posts i never use indicators except to look for Bullish or Bearish Divergence.

Everyone reads TA differently and I respect whatever TA they used.

As i always say, TA is only a guide you need a plan while buying into any stock. The reading could change due to certain unexpected development and a counter can turn from Bullish to Bearish in a split second.

The TCB is here to help read charts, but we could not control the sequence of events that might affect the price of any stock.

Happy Trading..

cherry tomato--GHLsys are you sure it is from me? I never look at indicators nor fibo nor.
Please check..

Happy Trading..