A quick one on today's FKLI & FCPO, as both has got some pretty crucial development during today's trading.
>>>
On FKLI
- Pennant breakout to the upside.
- Projection target indicates potential new high for FKLI.
- Resumption of previous rally, sentiment is strongly bullish.
- Watch if the 1,705 peak is gonna hold the bulls for a while.
Resistance @ 1,705 | round numbers/intervals of 10 - 1,710...1,720...etc.
Support @ 1,690-95 | 1,680-85 | 1,675 | 1,665
 |
| FKLI - Pennant BO Upside. Very Bullish. Potential New High in the making. (April 10) |
I personally cant imagine FKLI at 1,750...lol...
Nonetheless, if the 1,705 peak is to be overtaken, 1,750 will be pretty realistic a target.
>>>
CPO on the other hand, is on the downside today.
Price got a short-lived spike after today's seemingly bullish MPOB March'13 data.
However, price succumbed to furious selling that saw an afternoon drop from 2,416 high all the way back down to close at 2,370 day low.
Price is now convincingly below the ST uptrend line supporting the rebound from 2,335-2,419.
Hence, a confirmation of the end of the rebound at 2,419 high, followed by a resume of the previous downswing from 2,505 high in Wave 3(v).
Support @ 2,325-35 | 2,300 | 2,220-30
Resistance @ 2,390-2,400 | 2,420
.png) |
| FCPO - Price dropped below ST uptrend line. Bearish. Downtrend resumed. (April 10) |
>>>
Dow closed at another new high of 14,673. Coming closer to my fibo projection of 15,000-15,100 level. Technical wise, DJI will continue its bullishness, unless we have a surprise from the FOMC Minute tonight, or disappointing earnings from heavy-weight Dow components.
Note: There's a USDA Report coming out tonight at 1200 EST.
FOMC Minute due at 1400 EST.Till then.
Happy Hunting!! :)
Prepare to vote @ 050513!!
Hi Jeanne,a friend from blog recommend your side, nice blog, i like your chart(Next View?) colorful, clear, easy to understand :), how long have you been full time trading? :)
ReplyDeleteHi Nemo (^_^)
DeleteThanks for liking my blog. :)
Ya. Im using NV charts. Colorful?? haha, too artistic for trading then...lol.
Been trading full-time since late last year.
Do visit more often hereon! Happy Hunting! :)
hihi, still have 10 min to go my F1 Grand Prix, drop a fast question
DeleteJeanne, what's trade style you more on? long/short term position or intraday? you must be able to control the emotional and psychological problems before as full time trader, any advice for those want to become full time trader?
Some guys peeping here want to know , they shy to ask, hahahahhaha
F1! Cool! \(^o^)/
DeleteI hold swing positions on FKLI (basic income), & day trade CPO (extra pocket money).
This is my current style. When I have grow my account enough as planned, I will change to another 'combo'...lol
The truth is, I was kinda 'forced' to quit my day job earlier than expected (long & sad story), came in short of my initially planned starting capital.
Turned full-time anyway, coz I believe in forcing myself out of comfort zone to achieve higher goals, also I believe I have found my direction in the trading business.
Remember this, traders are not God, we are still humans, i.e. we can get emotional.
I got tricked by the 'news' during the April03 dissolution roller-coaster too. Technical says buy, but I'm too 'convinced' that its gonna be a winner to short on dissolution announcement.
The main takeaway is:
- Learn, Experience, come out with ur own trade setup that can give u an 'edge' against the market.
- When ur setup appears, check the Risk"Reward ratio, if satisfiable, take the trade, DON'T STOP & THINK.
- Then also, do treat each of ur trades EQUALLY. No one trade MUST BE A WINNER. Start treating ur trades equally, manage ur risk with strict discipline, then u'll find CONSISTENCY in ur trades & also ur PSYCHE.
I actually started off quite sloppily, big fluctuations in wins n losses. Went all haywire with my psyche.
It's the 'no turning back' factor that keep pushing me to 'evolve' for better, keep learning & adapting, especially the risk management & trading psychology part.
At some point, any traders will have equipped themselves with sufficient TA skills. The only thing that differentiate the consistently-winning from the still-struggling group is TRADE MANAGEMENT & PSYCHOLOGY.
Hope this will be of help.
Came a long way, & still learning...
~*Jeanne*~
Hi Nemo DBS.
DeleteI'm thinking sharing this in a new post.
Hope u don't mind that.
Btw, ur a broker with DBS?
Thanks,
Jeanne
thanks for your kindness explanation, :)interesting your basic income came from FKLI, most of trader is came from FCPO :)
DeleteDay trade FCPO? i believe you still need to use lower time frame to analyse it, mind to share out? :)
Shy ppl asked if can please update daily your blog, they like your analysis. :)
Me from DBS? "Nemo" from where? guess
Deep Blue Sea =DBS.
hahahahhaah
Well, FKLI has been giving me some trouble recently, going sideways, kena 'pay cut'!
DeleteMy basic income from FKLI coz i started with a small account...lol...
Also, my FKLI position setup can give me an average 20pts/contract/mth, which is sufficient to cover my monthly expenses.
Of course, CPO house more opportunities relative to FKLI. Even day trading it is enough to give lucrative profits.
As I said, after my account grow to the extent I planned, I'll most likely switch to major in FCPO day & positions, will eventually add in E-mini Dow/S&P also.
CPO I analyze the hourly & 15min if I day trade.
I do hold positions if the entry is nice & its a Wave3/WaveC, coz wave3 often spot opening gaps as it progress, don wanna waste those gaps, u know.
My blog, haha, when u see I missed a daily post, it'd be that there's not much change to the market trend (following previous post), or it's just that I'm taking time to laze a bit/holiday.
I approve my own leave application....lmfo! :D
I'm just human...haha...I can be lazy sometimes.
U can drop me a mail for easier communication.