Dear frens and forummers, i set up CHRISSYCONN to share our trading and investing ideas. We shall start afresh in this new place WE proudly call HOME .
It is our dream to become a Successful Trader as well as a Super Investor. To make our dream comes true, we embrace TA, FA and a business mentality.
Yes, we will be stressful pursuing our dream .... so ps feel free to share your humour with us so long as IT IS not offensive to anyone in this HOME.
Lastly, we would like to remind everyone to trade / invest at own risk should u choose to buy our stock pick .
FOR CHARTS, PLS VIEW OUR BLOG
http://chrissyconn.blogspot.com/
HY or HRC is still a hot stock with or without some VVIPs :)
Daily chart If u are a trader who trades on daily timeframe cuz no time to monitor whole day, there is really no price action catalyst to go long ... 20MA and 50MA are pointing downwards ... price below 200MA ... descending triangle following a downtrend is technically bearish bias ! perhaps only go long when price breaks above the triangle downtrendline ?
1-hour chart ok nothing to entice on daily but i want to go long anyways .. so, let's go down to the 1-hour chart to look for reasons to buy .. (1) price has not been able to break above 50MA (2) there is a yellow consolidation box as reference point ... so, there are two options (1) go long when price breaks above 50MA or (2) go long when price breaks above the high of the consolidation box .. either ways, stop loss shud be below previous swing low
5-min chart or why not the 5-min chart if intend to day-trade or hold for 1 or 2 days ?? aggressive traders can go long now based on this chart cuz price is above 20/50/200MA ... this is an indication that short-term trend has changed ... however, for this short-term trend to be legit the yellow zone must be able to support shud there be a dip ... so, we may want out if this level fails to support !
5-min chart so since we know price has not been able to go above 1H 50MA, do monitor closely when price hits this level if u trade on the 5-min chart !! cuz price may just be stopped out here again ... obviously, trading the lowest time-frame is always more volatile and subject to a lot of whipsaws ..
rchi .. thanks for the heads-up !! didn't notice pmetal has fallen to her 200d MA lately .. at times price can also drop below 200d MA and then rebounds strongly (like VS) ... if price can dip to the congested area (blue box) at golden ratio 0.618, then these wud be ideal catalysts to look for counter-trend trade :) .. in any case, will definitely drill down to the lower timeframes now to monitor for opportunity cuz she may just as well bounce up from the 200d MA !
toyang .. sold this some time back cuz there wasn't a strong rebound at 200MA as anticipated and i did not like daily 20MA catching up that may resist any upward movement !! if not mistaken, a few starbuck coffee from ucrest that's all :)
Posted by toyang > Apr 2, 2018 11:38 AM | Report Abuse Connie's Ucrest also fly. ;)
wah datuk .. didn't trigger any SL and u are still holding ?? or now 2nd round ?? :)
Posted by fyh30 > Apr 2, 2018 10:12 AM | Report Abuse datin... pancake gonna be tasty..
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Posted by Christine Goh > 2014-03-11 21:40 | Report Abuse
Dear frens and forummers, i set up CHRISSYCONN to share our trading and investing ideas. We shall start afresh in this new place WE proudly call HOME . It is our dream to become a Successful Trader as well as a Super Investor. To make our dream comes true, we embrace TA, FA and a business mentality. Yes, we will be stressful pursuing our dream .... so ps feel free to share your humour with us so long as IT IS not offensive to anyone in this HOME. Lastly, we would like to remind everyone to trade / invest at own risk should u choose to buy our stock pick . FOR CHARTS, PLS VIEW OUR BLOG http://chrissyconn.blogspot.com/