GOLD

Spotted a formation. Potential long next week on breakout.


Updated 2nd Feb:
Pop and rally near TP. Lock in profit.


Updated 15th Feb:
Good thing lock profit at tp. Because..

Exits

What difference a week makes! Sigh was out of town..




Correction has started and I see two possible scenarios.. There's not much to do now except waiting for the right setup to buy in again.

1. Price drop rapidly next week culminating in panic selling. Like HSI drop 1000 points DJ drop 300-500 points. Look for the counter that drop the most drastic and be quick to get out if wrong.

2. Over 1-2 weeks price rally and break short-term resistance, then drop to break new low on that resistance-turn-support. Look out for stocks stronger than index to long on the 2nd breakout.

Pop!

Laggards finally pop. YANLORD next?

Longterm charts for these laggards

Closed GOLD, reaction rally hit tp




Watch out, either wild rally next week or correction.
Upside slightly higher odds than downside for now.

Checkpoint 7

It had been a busy year. Plan to spend more time this year into my trading research. That means less time on this blog and cna forum.

Highlight for 2009 is creating system z. Program itself is one thing. The process of writing a computer program to analyse stock prices make me see price movements in a different light. Units of up and down impulses. While stock price is random its not really that random actually.

I also begun to see more hidden details in a chart. Some people see my chart think how come so empty only 3 lines, no indicators. Guess what, those 3 lines is all that matter most to make trading decisions. Bear line, bull line, neutral line. How price behave around those 3 lines.. Thats all.

Stocks stronger than index are candidates to long.
Stocks weaker than index are candidates to short.

With that, I wish all readers a fabulous year ahead!

USD/JPY

False breakout?

This kind of chart better wait for short opportunity than long.


Technical analysis is fractal in nature.
Same method works different timeframes.



Updated 24th Jan:

UJ really pooing. Didnt take it, was holding GOLD long.
Which is similar bet direction to a short trade in UJ.