31st july plays

A lot of results from the NR scans..as expected.
The top few picks are People’s food holdings, Wingtai, China xlx and Yanlord
mostly cos they’re doing nice retracements.
charts up tmr morning, too tired right now.

Forex trades today 30th july

I did a couple a trades, one was entered last night, another was entered near midnight tonight.

USDCHF and GBPUSD explainations on the charts.

As I type this post, the GBPUSD trade is still open.

30th July plays

Nothing on the NR scans, it was quite a day for the market. up in the morning then a big sudden drop in the afternoon, followed by a 50% recovery.
but STI still hasn’t penetrated the previous day’s low, so let’s just say I’m cautiously bearish.

Volatility intraday play is on the cards.
NOL, Yanlord, China xlx and Noble are on top of the list

Explainations are on the charts, just click on the pictures to view them =)

Have a great trading day!

GBPJPY interesting consolidations

The GBPJPY is making a consolidation just under the long term daily supporting trendline which now acts as resistance.
And right now, it’s doing another consolidation just under the mid term 4hr supporting trendline which now acts as resistance.
Very interesting isn’t it?
Well, I’ve taken a sell trade on it, explainations on the charts, look at the 4hr chart first then the 15min charts so you’ll understand what you’re seeing. (my art work kindda sux big time =p i’m trying my best!)

 

29th July plays

Market’s still running
STI broke 2600 resistance, see if today can hold above, if it does, we’re probably still gonna have a couple more nice big upside days.
Cos the whole market is running, there aren’t a lot of results on the NR scans..
For today only Wing Tai looks interesting..
After an INSANE run up, it’s done some retracement while the rest of the market’s been running, probably released some selling pressure.
If market sentiments are good, it might find the strength to go higher.
The rest of the results were not volatile counters so i shall not look at them.

For some volatility play,
Top 2 on the list are NOL and Yanlord.

Other than that, seems like a couple of china counters went crazy, watch out for the retracements, could be violent.
I hear china xlx is gonna get listed on the SSE or HSI and i’m not sure what the story is with china milk, but it’s running too.

GBPJPY interesting 28th July

Price testing resistance at 157.60 a few times..

A sell trade was taken near the resistance of 157.60, managed to take some profit and moved my stop to breakeven, but before long I was stopped out, so ave +20 pips only.
Just over an hour later price runs down 100 pips. lol
Maybe I moved my stoploss to breakeven too quickly.

Anyway, I see an interesting development brewing on the GBPJPY, it broke the downsloping trendline, retraced and now can’t seem to get above 157.60 for a continuation move. A sign of weakness perhaps?
So i’m waiting for a setup or something to take me in short.

GBPJPY overnight

Something i saw lastnight. Woke up around 9am, but was still too tired so i stayed in bed and kept drifting in and out of sleep…only crawled outta bed at 10.30am! lol(have been down with a flu) well i woke to find myself in a profitable position, nice way to start the day. been following this counter for a while, it broke a longer term supporting TL, and retraced up to test the TL many times, it has now become resistance. the long tailed doji was formed just under the TL, and i think that’s a pretty strong sign that the bears were coming. so i waited for a retracement with consolidation, it came in the form of a string of dojis. couldn’t keep awake, so i set my stops and went to bed.

For a bit of balance

In event that we really start falling tmr, I’ve decided to look for some counters which look shortable as well for an intraday punt.
Allgreen is still on the list. I will also be observing Osim if 0.44 is broken to resume downward move.
The rest here have all just made 20day highs
In confluence with other factors like  based on volatility and either weakness of a doji or lack of volume, or just broke a strong resistance and might fall back into the range, will be:
Singtel – good volatility and tracks STI movement quite well.
Parkway holdings – made new high, has some volatility.
UOB – made a new high, but on lower volume,
DBS – just broke june highs.

So in case in the middle of the day, there’s a major change in sentiment, I’ll know which counter to get.

Happy trading tmr!

Something to watch for tomorrow

Well now, STI is still on the run upwards! 2600 resistance, might reach this week then fall back.
There’s a slight divergence of events, the STI is making new highs, but some counters are failing to break the highs seen at the start of June.
But we’ve seen quite a few days of strong upward moves, I’m still inclined to think there will be a retracement very soon. I’m seeing many long tailed dojis around.
but in the mean time, that shouldn’t stop us from looking out for trades to the upside. Although i’ll be keeping my exposure time to a minimum to avoid any drastic drops.
Btw, DBS was an NR7 yesterday, but the parameters of my scan capped counter prices to $5 so I didn’t see it. did a nice 30c run.
Allgreen didn’t trigger today and I wasn’t comfortable going long on Noble, seemed like a lot of big throw downs, so no trades taken today.
Anyway I spent half the day out and about.. down with flu and still running around.. super tired. (no worries, it’s not H1N1 =p)

NR scans only came up with Osim which looked interesting with the potential for a short term swing if it continues on its way up.
Simple swing trade trade plan would be trigger on break of today’s high, 0.475 with a stop around 0.43.
First target would be 0.52 then 0.565
timeframe by end of this week.
Intraday play would be either the ORB or stretch 2 bids above open, with a stop of 4 bids, targeting 6 bids.
To be conservative, my entry would be taken after first 30mins of trading.
Personally, my trading plan would be to do an intraday trade on this, I’ll take half profit at 6 bids and move my stop to breakeven.
At the end of the day if volume is high, then I’ll swing it for a day or 2 for more profits, targetting 0.52 and 0.565 or until friday.
For the record, I do NOT encourage people to follow my trade plan, especially for intraday.

Noble 27th July

Explainations are on the chart. I’d like to see a retest of the 1.85 level before going in long.
My preferred play would be to fade the break based on ORB (opening range breakout) with stretch. Of course if 1.93 is broken, there’s a chance for intraday plays to the upside as well. 
I use ORB exclusively for intraday trading or as a trigger for short term NR plays.
 I will put up a page on ORB and stretch into the strategies section, give me some time, as you can see even the basic TA section isn’t finished yet! lol