Posted by novice8 > 2014-05-09 11:22 | Report Abuse

Noted mat!
Am planning to add Waseong and Engtex too. Tq!!

Posted by Dino Limo > 2014-05-09 12:26 | Report Abuse

Oh, thanks profitman +Matrix, Hope to learn resistance chart and knowing when to cut loss etc. u guys are very very safe and professional players.

Much to learn T.T

Barakah bought in at 1.73 this morning, was that a good move? because i was anxious of the news. thought it would fly. Now its a waiting game right?

Pelikan's hitting new high at 1.06, how to know what it will do? just hold?

Sdred any views??? thanks

Thanks

Posted by matrixcool > 2014-05-09 14:50 | Report Abuse

Dino Limo -- I think i did inform you that i sold some BARAKAH yesterday @ $1.73. I have also raised my Trailing Stop at $1.68 to protect my profits just incase there is a pull back. Please refer to my update this morning.

For Pelikan you must set a Trailing Stop to protect your profits.


Happy Trading.

Posted by Jasonshteh > 2014-05-09 15:01 | Report Abuse

I am thinking to buy Barakah also. Today dropping..

Posted by matrixcool > 2014-05-09 15:34 | Report Abuse

Jasonshteh , Barakah is trading near its immediate Support of $1.70/$1.69. That is why i set my Trailing Stop at $1.68 as if this support fail to hold the next support is at $1.64/$1.60.

Happy Trading..

Posted by Dino Limo > 2014-05-09 15:36 | Report Abuse

Thanks. Im still very confused about when to buy in...
i) once its past its resistance,
ii)or its better not to touch..


Thanks mat, I will keep in mind the SL. Its around 5% loss, worth risking?

Thanks ^.^ I think barakah will be good the next 3-4 days. GOGOGO

Posted by matrixcool > 2014-05-09 16:04 | Report Abuse

Dino Limo-- . Im still very confused about when to buy in...
i) once its past its resistance,
ii)or its better not to touch..

There is only one RIGHT time to buy any stock. After you work out how much you are prepared to lose if the trade go against us. A risk of 5% is a very low risk buy, I do not trade penny stocks my normally trading counter is from $1.00 to $2.00+, so I would like to keep it less than 10% say 7-8 % is good first entry for me. Smaller value counters less than $1 sometime I allow up to 12-15%. The reason being you must give the stocks some space to maneuver.

Just quote an example ENGTEX, I have collected from $1.90 to $1.95 so far. ( Please do not take this as a Buy signal I just want to share with you my trading strategy Ok?)

Say my Av Cost is $1.92, I look at its immediate support is at $1.89 and very strong support is at $1.84. So I have identified my Stop Loss at $1.84 giving me a 8 cents risk which is 4.2% Risk. Then I look at its possible target: TP1 is kind of obvious at $2.10 (Gap Resistance that will need to be filled) given me a 16 cents gain. That is a Reward/Risk ratio of 2:1 I will take the trade. Of course to get to $2.10 it will meet some resistance on the way.

When a counter breaks its important resistance it is a good time to buy as you can expect it to scale higher into new high. Your only worry is it is a “Bull Trap” that can catch many traders. I was caught many times too.

Happy Trading

Posted by novice8 > 2014-05-09 18:59 | Report Abuse

mat, thanks a lot for the above explanation! you're very helpful!
enjoy ur weekend!

Posted by swee_on > 2014-05-09 22:55 | Report Abuse

matrixcool, thanks for the sharing. it is very clear and systematic. great stuff!

Posted by Dino Limo > 2014-05-09 23:11 | Report Abuse

Oh, thanks profitman +Matrix, Wow that's soooo detail. Mustve put so much effort and hard work to achieve that. ^.^

Much to learn T.T

Silkhld, and Sdred any views??? thanks
Silkhld will still fly?
sdred for midterm?

hehe u can answer whenever, sorry for bothering ^.^

Posted by matrixcool > 2014-05-11 11:01 | Report Abuse

Dino Limo

SILK— I have earlier read the chart for SILK in Feb /March:
# SILK—Very Bullish forming Pole and Flag formation after hitting a high of $0.785 on 05/02/14 and started its consolidation.May have found the new low at $0.63 on 19/02/14 and started its rebound, but formed a “Dark Cloud” (Engulfing Bear) on 24/02 at $0.74. This dark cloud is shadowing the upward movement of SILK .A break above the pennant at$0.72 signal Buy and if break $0.74 SILK will scale much higher to its previous high of $0.78 and into new uncharted territory. Failure to breakout soon ( it has been in the pennant almost 3 weeks already) then it may formed the Descending Triangle which has Bearish implication. Exit if $0.62 is violated.-- (27/02/14)
Yoda, after the reading it did break down from the descending triangle and hit a low of $0.55. It has a technical rebound, trying to close above $0.63. The counter has shown lots of weakness and if it rebound further to close above $0.63, expect some strong resistance at $0.69 (The down trend line).Exit if $0.55 is violated.-- Yoda88 (18/03)#

After the Reading:

It issued a first Buy Signal on 21/04 when it breaks above $0.63 level and hit a high of $0.72. Subsequent consolidation but managed to stay above $0.63 which confirm the new bottom. Yesterday it finally took out the “Engulfing Bear” formed on 24/02 at $0.74. It is expected to break above its previous high of $0.78 into uncharted territory and into next immediate target of $0.84 and beyond with resistance at $0.80.A break above $0.78 confirm continuation of its stage 2 cycle which is very bullish and Immediate support adjusts to $0.725/$0.715.

Happy Trading..

Posted by wtclau > 2014-05-11 11:36 | Report Abuse

Good morning Mr Matrixcool, referring to yr example on Engtex. You mentioned that you fixed yr Stop Loss at 1.84. Which also happen to be a strong support. I was wondering when it hit that strong support level there is a strong possibility that it will bounce back. If that is the case, why not put the Stop loss say one or two pips below at 1.82. When it hits yr TP of 2.10 will you sell or will you let yr profit run? Can you pls advise cos I am learning. Thank you n have a nice day.

Posted by trader96 > 2014-05-11 14:21 | Report Abuse

mat-thank you for helping out the PMETAL ... making some profit.
kindly assist to analyse SBCCORP.
May you have a wonderful weekend and good luck!

Posted by matrixcool > 2014-05-11 15:55 | Report Abuse

wtclau > Your question of:

#Good morning, Mr Matrixcool, referring to yr example on Engtex. You mentioned that you fixed yr Stop Loss at 1.84. Which also happen to be a strong support. I was wondering when it hit that strong support level there is a strong possibility that it will bounce back. If that is the case, why not put the Stop loss say one or two pips below at 1.82. When it hits yr TP of 2.10 will you sell or will you let yr profit run? Can you pls advise cos I am learning. Thank you n have a nice day. #

Wtclau—Very valid question on the Stop Loss and Profit Taking.

1)You are absolutely right my Stop Loss level (If you follow my earlier post) means if that level is violated. At your suggestion of fixing at $1.82 (instead of $1.84) is a very good idea indeed, but it may work against you too.

I would like to share with you my method(my observation for most stocks behavior), when a stock break out or down of its important support/Resistance level it must accompany with:
a) Volumes, ignore those noises if it is thrown down to create Bear Trap with small volume.
b) Downside breakouts often lead to 2-3% decline by an immediate test of that breakout level.That means when $1.84 is violated it is most likely to rebound back towards $1.84, if it close above $1.84 that means the breakdown is invalid.
c) You will be caught if it came down to $1.82 and rebound to close say $1.84 and above.
I hope this clarifies what I refer to” if it is violated”. It is the same when it breaks above its strong resistance, it will always re test that level or very close to that level. If it stays then we will chase that counter, if it's close below that level, it is invalid (Or what we call Bull Trap).

2) When the counter hit my target I will normally clear part of it to to lock in my profits.I encourage traders to cultivate profit locking habits. Then I will adjust my trailing Stop to protect the unsold portion either my capital or some profit.( For example what I am doing with BARAKAH and MINHO now) If it break above my target to the next target I will keep adjusting my Trailing Stop higher to protect my capital. I will clear all when the candlestick shows a price reversal (It is different from trend reversal, take note). The reason I do that is because I am a short term trader I try to avoid any big pull back to wait for next upward movement. Then I may reenter when the consolidation is over.

I have done this with many of the counters I trade, in and out to take my profits .

Then, this is my trading strategy and others might not agree with it. I respect whatever ways they trade as long as they are making money.

p/s: I will be updating ENGTEX on my weekly Summary tonight .

Have a nice weekend..

Posted by novice8 > 2014-05-11 16:39 | Report Abuse

Mat! Tq for the above!! Very helpful and valuable piece of info!!! Tqvm!!
Looking fwd your weekly summary later tonight! ;)

Posted by ProfitMan > 2014-05-11 17:49 | Report Abuse

trader96 - SBCCORP:

Earlier analysis by SF and my additional comments as at 30/4:
SBCCORP (by SF)- The price is quite volatile now. The support at 2.14 is very easy to break, if further sell down it may test 2.01 and 1.87. The market is driven by fear and greed. So like Matrix always say, we need to be discipline to every trade and plan before we enter into a trade (when to cut loss and when to take profit).

Just to add to SF, from my interpretation, I believe it is now undergoing wave 4 which is a corrective wave, which means you can expect some more retracement bringing the price down. Only after this comes the upward wave which you can expect price to move up.

Update analysis:
It did broke the support at 2.14, trended down to a low of 2.12, tested and found support at 2.06. The doji with 2 subsequent inverted hammers underpinned by decreasing volumes pre-empts a potential price shift with decreasing selling pressures. Please note that this is not a buy signal. It needs to take out the resistance at 2.26/2.27 and in the process will also take out the engulfing bear on 5/5 to signal the start of wave 5, the last bullish phase on the Elliot wave. Immediate support is now at 2.06. If you are bottom fishing, please set your stop loss price in case the trade turns against you.

Posted by wtclau > 2014-05-11 18:04 | Report Abuse

Thank you, Mr Matrixcool. Very nicely explained n you are ver helpful. Nice to have guys like you in the forum.

Posted by trader96 > 2014-05-11 18:33 | Report Abuse

Mat-thanks for analysis.

Posted by matrixcool > 2014-05-11 18:48 | Report Abuse

wtclau --You are welcome.

trader96, you must thanks profitMan, very well analyze of SBCorp profitMan. Exactly what I think too, except did not realize it is in wave 4 to go wave 5.

trader96,My congratulation of your winning on PMETAL, Bravo.

For SBCORP I did the reading on 11/04 for greenday,

# SBCORP--Stage 2 of the cycle and very bullish. It hit a new high of $2.35 but formed a “Spinning Top” which imply a temporary top and it consolidated to the low of $2.14. A break above $2.35 will take it to the uncharted territory and estimated next target of $2.56 with strong resistance at $2.50.immediate support is adjusted to $2.20/$2.14 and strong support at $2.05. I think you are on a winner, congratulation ! ( 11/04)#
with profitMan latest update it is about all we can read from SBCorp chart..
Just add in what happen if the strong support is broken at $2.05..

It is still under consolidation, but formed a long legged Doji when hit $2.06 on 07/05 , whether this is the new bottom yet to be tested. A break above $2.18 will take it to immediate resistance at $2.27 and strong resistance at $2.35. A break below $2.05 will most likely take it to the support of $1.94 and $1.87. If you are trading this counter you may want to observe the strong support at $2.05.

Happy trading..

Posted by bbdd > 2014-05-11 18:56 | Report Abuse

Bro matrix , can I ask what's your thought on DBHD? Thanks

Posted by matrixcool > 2014-05-11 20:33 | Report Abuse

bbdd >

Bro matrix , can I ask what's your thought on DBHD? Thanks

DBHD—Very bullish stage 2 of the cycle. After hitting high of $2.05 on 24/04 which it formed an “Evening Star” the same day implies a price reversal which it did. It consolidates down to a new low of $1.30 on 06/05 and formed a “Engulfing Bull” the same day which is very bullish. DBHD has found a new bottom at $1.30 and it should be scaled higher if $1.30 holds. The downward momentum has increased so it may test its immediate support at $1.54/$1.50 with strong support at $1.43. But a break above its down trend line at $1.73( Reading today on 11/05) signal BUY and it should retests its immediate resistance at $1.80/$1.90 and its previous high of $2.05.
Exit if $1.30 is violated.

Happy Trading..

Posted by matrixcool > 2014-05-11 22:02 | Report Abuse

12/05/2014—Weekly Summary,

1)3A-- AV Price=$0.89 (Closing=$0.905 , P&L= + 1.70%), Stop Loss=0.865 . Risk= -2.80 %. Tp1=$0.97 , TP2=$1.00/$1.02. (Exp Trading Range $0.88 to $0.97 ).
Note: As suggested last week 3A rebounded and find immediate resistance at $0.915/$0.925., with the increase momentum it is expected to test the strong resistance at $0.945. If break $0.945 it is expected to test my TP1 of $0.97. Any weakness will find immediate support at $0.88/$0.875.

2)BREM-- AV Price=$2.03 (Closing=$2.04 , P&L= 0 %), Stop Loss=$1.90 .
Risk= -6.40 %. Tp1=$2.20 , TP2=$2.26/$2.30. (Exp Trading Range $1.99 to $2.12 ).
Note: As suggested last week it shows some weakness and tested support of $2.02 which it manages to hold above. Any further weakness should find strong support at $2.00/$1.99.Some rebound can be expected as the downward momentum has slowed down, any rebound should find immediate resistance at $2.10/$2.12, for price reversal it needs to break and stay above $2.12.

3)ENGTEX-- AV Price=$1.92 (Closing=$1.95, P&L= +1.50 %), Stop Loss =$1.84. Risk= - 4.2%. Tp1=$2.10, TP2=$2.20 (Exp Trading Range $1.90 to $2.05 ).
Note: May has found a new bottom at $1.89 and strong support at $1.86 and I started to collect Engtex from $1.90 to $1.95 giving me an average cost of $1.92. It is not actually out of the wood yet as it is still in a bearish trend, but volatility is extremely low so a price fluctuation to move upward is more likely now as the upward momentum has increased. A break above $2.02 confirm the price reversal to my TP1 of $2.10 and I may scale in more shares.
4)HEVEA-- AV Price=$1.34 (Closing=$1.38, P&L= +3.0 %), Stop Loss ( 2)=$1.30. Risk= - 3.0%. Tp1=$1.45/$1.50, TP2=$1.58/$1.60 (Exp Trading Range $1.32 to $1.42 ).
Note: It has settled in a sideways movement of $1.32 to $1.45. Any rebound will find immediate resistance at $1.42 if break confirms a price reversal (break out from its immediate down trend line ) to re test Tp1 of $1.45/$1.50. Any weakness will find immediate support at $1.35/$1.32. I may clear HEVEA to release my capital if it can”t clear $1.42/$1.45.

5) PRTASCO-- AV Price=$1.89 (Closing=$1.89, P&L= 0%), Stop Loss=$1.80 .
Risk= -4.8 %. Tp1=$2.00/$2.04 , TP2=$2.10/$2.14. (Exp Trading Range $1.86 to $2.00 ).
Note: Stage 2 of the cycle and very bullish, it is forming Flagpole pattern with bullish flag.The problem is it inside the flag longer than thought,the downward momentum has slowed down so a break above the $1.91 signal breakout from the flag and to re test its immediate resistance at $1.95 (Also the Engulfing Bear formed on 17/04 that needs to be taken out) . If breaks it is expected to test my TP1 of $2.00/ $2.04 and into uncharted territory. Any weakness will find support at $1.86/$1.85.

6)WASEONG-- AV Price=$2.01 (Closing=$2.04, P&L= +1.50%), Stop Loss =$1.94, Risk= -3.50 %. Tp1=$2.18, TP2=$2.29/$2.30 (Exp Trading Range $1.97to$2.10). Note: I have been collecting WASEONG from $1.97 to $2.03 giving me an Av Price of $2.01. It was a low risk buy for me as $1.97 have been tested and hold. Stage 2 of the cycle and very bullish, A break above $2.10 with volume will take it my TP1 of $2.18( Strong Resistance) and beyond. Any weakness should find immediate support at $2.00 and strong support at $1.97 /$ 1.95 ( For mid term traders Stop Loss level if $1.82 is violated).

7)WCT-- AV Price=$2.263 (Closing=$2.21, P&L= -2.34 %), Stop Loss (3) =$2.10, Risk= -7.20%. Tp1=$2.37/$2.40, TP2=$2.50/$2.55(Exp Trading Range$2.15to$2.28). Note: The scenario remains the same for the past 4 weeks, stage 2 of the cycle very bullish after breaking out from $2.20 , trading from $2.18 to $2.30 . Lately the downward momentum has increased, raising doubt that whether strong support of $2.18( which was tested on few occasions and each time it rebounded from this level) can hold or not?. A break below $2.18 will take it to its next support at $2.15. I have readjusted my Stop Loss level to $2.10 if it is violated to allow for the dividends next weeks.

I am selling remaining shares of:

BARAKAH ( 50%)—Trailing Stop at $1.68, immediate resistance is at $1.74 with next target at $1.78/$1.80.

MINHO (50%)—Trailing Stop at $1.14, TP2= $1.23/$1.26

JAYCORP ( 50%)—Stop Loss at $0.72, the upward momentum has increased,more rebound could be expected to $0.815/$0.825.


Note: Please be informed that we will be starting a New Thread call “Technical code Breakers” soon, “ My Trading Stocks” will be phased out and move to this the new thread. With the new thread we hope to help more forum investors on Technical analysis, Trading Plan etc. I found out many traders prefer to trade at counters that are below $1.00 so my choice of stocks may not be so relevant to most of them.

Happy Trading & Good Night..

Posted by ProfitMan > 2014-05-11 22:05 | Report Abuse

Matrix - a sincere thank you for organizing and paying for the dinner last night. It was great to meet up with you personally together with the other forum members and the exchange of trading ideas and experiences were most useful and enriching. Nothing beats hearing from the man himself, i.e, you. Really appreciate your genuine and sincere intentions in getting us to trade the right way and sharing your knowledge with us.

Posted by connie > 2014-05-11 22:15 | Report Abuse

hi matrix ... hi profitman, woah tech code breakers ! sounds so refreshing n exciting :) happy watching football and pleasant dreams thereafter !

Posted by novice8 > 2014-05-11 22:18 | Report Abuse

Mat, tq for the summary! Noted on the upcoming new thread!
Will you still in include your trading stocks in the Code Breakers like what you've been sharing in this thread? Pls I beg you not to exclude them as you've been helping newbie like me a lot in choosing the right stocks to trade.
Tqvm!!!

Posted by Nana88 > 2014-05-11 23:10 | Report Abuse

Mat, thanks for sharing your weekly summary. 'Technical Code Breakers' sounds cool. I must say I agree with novice8, would you please continue to include your stocks trading in the Code Breakers like what you have been doing? Newbies like me are learning a lot from this fantastic thread from your goodself, ProfitMan, SF.

Posted by trader96 > 2014-05-11 23:25 | Report Abuse

Mat/ProfitMan - thanks you very much for all your analysis that gave to me!

Good Night ...

Posted by choolooi > 2014-05-12 00:19 | Report Abuse

Good morning Matrix,

Though u observed many traders like under rm 1.00 ,(and I am one of them), I am sure they too will adjust accordingly the amount of shares they want to buy once they see that the TA put out in your trade list has strong chance of heading north.
I remembered you had picked below rm 1.00 stocks ( Inari for example ) that are now above 1.00.
3A may be one of them above rm 1.00 soon ,. Who knows?
Bursa is unpredictable.
Break its CODE and enter its MATRIX.

Novice 8 is saying what many want to express.

Have a prosperous Monday

Posted by air01557 > 2014-05-12 00:20 | Report Abuse

Can buy SILK ???

Posted by matrixcool > 2014-05-12 00:22 | Report Abuse

ProfitMan—So sorry Liverpool din”t win..Next year it will be harder for you because we will be back !! I enjoyed the dinner with you all as much,very happy we finally meet up and share our technical opinions.

connie—thanks. Hopefully you can visit us more often on the new thread and share your TA in Waves. It will be so great if you could share your knowledge and help those forum investors with us in the new thread.

novice8 & Nana88, the new thread will be better for everyone in TA we can assure you. Don”t worry, I will still update the stocks I am trading every week but maybe in different format. I think over the year I have shown to traders you can actually make money consistently in stock trading if you are disciplined and trade well by exposing all the stocks I traded.

In the new thread, not only me, but all of us will share with you the stocks we are monitoring or buying into. I promised we will put them out in our new thread @ TCB ( technical Code Breaker) . We will tell you what level we are collecting and what is the exit levels, etc..We are grateful to you for coming to visit us at the new thread, even though we do not promote any stock in our thread, we will let you know why we are buying into any stock with our TA explanation so that you can make a decision for yourself.

In the new thread will do our best to help those that need TA for their stocks. But this time you are not going to see only just my comments, profitMan, SF, htyeap and others will add in notes so that that stock is look at every angle in TA . We also encourage any trader with TA knowledge to express their views on their stocks and we will study those stocks together.

trader96—You are welcome..In the new thread that is what everyone will get because few of us will be looking into your stocks for you together.

Happy Trading and good night..

Posted by Nana88 > 2014-05-12 00:48 | Report Abuse

Mat, sound great! Looking fwd to the launch of TCB! Million thanks to your goodself, ProfitMan, SF, htyeap and others experts/contributors for your invaluable time and effort. Thumbs up!!

Posted by Hitman > 2014-05-12 00:56 | Report Abuse

Bro Matrix, pls read LBALUM bro..Thank You.

Posted by sunlight > 2014-05-12 02:03 | Report Abuse

Hi Matrix - agree with Profitman. Really appreciate the dinner you had arranged for some of us. I personally have enjoyed it very much especially the sharing of trading ideas from you and profitman. Thanks and look forward to better trading.

Posted by ProfitMan > May 11, 2014 10:05 PM | Report Abuse

Matrix - a sincere thank you for organizing and paying for the dinner last night. It was great to meet up with you personally together with the other forum members and the exchange of trading ideas and experiences were most useful and enriching. Nothing beats hearing from the man himself, i.e, you. Really appreciate your genuine and sincere intentions in getting us to trade the right way and sharing your knowledge with us.

Posted by stay_foolish > 2014-05-12 06:36 | Report Abuse

Matrix - I am in :) Thanks for everything and looking forward to learn from you !!

Posted by matrixcool > 2014-05-12 06:54 | Report Abuse

Nana88--Thanks for the kind words.

Hitman --#Bro Matrix, pls read LBALUM bro.#

I need to go out this morning to renew my passport so profitMan, SF, htyeap please help Hitman here with the chart reading..Thanks.

sunlight -All of you are welcome and me and my wife enjoyed all your companies and dinner too. I think you should start to do some TA because from my understanding you do trade with TA too. Do share with us Ok?

stay_foolish--in TCB thread we will be helping eachother and all forum investors together..

Happy Trading..

Posted by matrixcool > 2014-05-12 07:16 | Report Abuse

Choolooi, thanks.I think you know the reasons why I started the thread is to encourage traders to use TA as a guide for their entry and exit. Also to set a trading plan when entering a trade.
I have used my own portfolio to prove that one can actually make money in the stock market if one is disciplined to carry out the trading plan especially when trade is against us. Ido hope these messages get to most of the traders, especially the newbies.
Now to start TCB thread I will try to identify more stocks below $1.00 so more traders can participate in our thread and share their TA knowledges.

air01557—I did the chart reading for Dimo on SILK yesterday, please refer to my earlier post. We do not recommend stock in our thread, you need to make that decision yourself. We are hope that our TA can help you to make a better decision, but whatever you do, remember to have a trading plan whenever you enter a trade.

Happy Trading..

Posted by novice8 > 2014-05-12 07:19 | Report Abuse

good morning fellow traders and investors~!
mat, tqvm for all the hard works and help!!

Posted by cbyeoh > 2014-05-12 07:39 | Report Abuse

Matrix, thank you very much for hosting us to a wonderful dinner last Sat. My sincere appreciation to you for compiling into a booklet the key TA points that you use to apply to your trading.

Posted by kheng > 2014-05-12 08:07 | Report Abuse

TCB can be considered as a caring thread which generously helps all the participants to ride all the waves safely. Thks all the wise men, esp Mat n Profitman here who r so generous to share their TA/FA knowledge selflessly to benefit the investing public to the tilt.

Posted by winwinborn > 2014-05-12 08:50 | Report Abuse

Really appreciated Matrix, Profitman, and others contributors for your times & effrots to help those forum investors. Look forward to the launch of TCB soon. Thumbs up!!

Posted by choolooi > 2014-05-12 09:30 | Report Abuse

Posted by stay_foolish > May 12, 2014 06:36 AM | Report Abuse

Matrix - I am in :) Thanks for everything and looking forward to learn from you !!

......
Haha stay_foolish !!!!! Your above remark triggers Tank's statement....
" I am in "..... Where ? In THE MATRIX already ?
Cheers to the first code breaker !!!!!!!

-------

Posted by etal > 2014-05-12 09:46 | Report Abuse

Hi, Hv been following yr thread for a couple of mths. Like your trading format. Am slowly learning TA. Would like to intro a gd book here: Master the Markets by Tom Williams. BTW, congratulations! You hv a winner in PRTASCO. Hope to meet you 1 day. Cheers!

Posted by ProfitMan > 2014-05-12 09:52 | Report Abuse

Hitman:

LBAlum - Broke out with volume on 16/4 and attained an unsustainable high of 0.815 on 18/4. It has since consolidated. It is currently trending up since the tweezer bottom formed on 5 & 6/4, a bullish reversal indication.

Immediate support = 0.63. If it fails to hold, it should find strong support at 0.615. Based on the readings, 0.63 seems to be a strong support.

Immediate resistance = 0.78 with a major resistance at 0.815. If the bullish trend is successful, it carries a TP1 of 0.75 and TP2 of 0.83. (Note: TP is just a guide)

Posted by ProfitMan > 2014-05-12 10:09 | Report Abuse

kheng/winwinborn - thank you for your nice words. We hope to cultivate a trading culture based on analysis and we hope you will pick up TA along the way and in turn be in a position to contribute and help out other newbies as well.

etal - thanks for the book highlight.

Posted by winwinborn > 2014-05-12 10:11 | Report Abuse

Hi Matrix,

Can you help to look the TA analysis for Bornoil?
Hopefully Bornoil price drop is only consolidation not a correction.


BORNEO OIL--Start to form Bullish Divergence between Price and RSI, some rebound can be expected in the near term. (5/5/14)

Posted by ProfitMan > 2014-05-12 10:32 | Report Abuse

winwinborn - Bornoil: based on my interpretation on the Elliot count, it is in the correction phase. Shall let Matrix comment further since he has been trading it and has a deeper analysis of it.

Posted by cherry tomato > 2014-05-12 10:38 | Report Abuse

Matrixcool please let me know when TCB launch.
count me in.
TQ.

Posted by winwinborn > 2014-05-12 10:47 | Report Abuse

Thanks profitman for the input on Bornoil.

Posted by Hitman > 2014-05-12 11:19 | Report Abuse

Profitman, TYVM.

Posted by Mc_Wei > 2014-05-12 12:32 | Report Abuse

Greetings to all senior forumers and fellow TA traders. I frequent this website often to check out the research reports but not so much on the blog/forum. This thread started by Matrixcool caught my attention hence decided to register and participate.

I personally prefer to trade stocks above RM1 as I prefer to trade stocks with institution participation. Looking forward to learn and exchange TA ideas from everyone here. Cheers.