Nikkei 225 has traded down to 423 of FIB level. (Same down FIB as my last posting) Currently price is adjusting itself at this level. Since 423 is an important support level, on LTF, we will try to find opportunities to "Long". Take profit according to SOP trade plan. What about ES? Will it be strong enough to stay above "Land" and continue higher? Or, it will continue to drop further and we have to create E-FIB... ... CNY happen to be on weekdays and with the current visitin
Genting -- a name that one of my old friend like it very much (whether in shares or Casino). Headline from CNBC recently: Cruise operator Genting Hong Kong files to wind up company. https://www.cnbc.com/2022/01/19/genting-hong-kong-files-for-liquidation-amid-german-lawsuit.html Out of curiosity, peep at the chart of Genting SG. If this pattern really play out... my dear friend will be crying ... ...
Nikkei 225 has traded to Land(H1) and find support and the moment. Base on FIB, if price were to drop further, the next support would be at 423% of this down-FIB. (It can also turn support to resistance if market is weak. If that is the case, deploy e-FIB). For intra-day players, to sweep a small nice daily profit from "land" are complete before 1pm. [Using sample teaching size of 25 lots with money management entry & exits]. Have a nice trading week and happy FIB-ing. Extrac
If you are an active trader you might have noticed that market follow certain patterns. A pattern that consistently occurs is consolidation between price ranges. During intra-day trading (especially during non volatile Asia timing), market often trade in a tight range, consolidating a recent move, and then move to another range and repeat the process. Having said that, even during market trends, prices tend to target specific level before moving on to the next region. One of
Sniper Club has just completed our 2021 recap in our training sessions. Since we are still at the start of the year, we should take a look at what is happening on the "left side of the chart", to plan for the "right". Year 2019 -- Daily chart shows that price are trending upwards. A blank chart, different trader with different skillset will deploy different strategies to harvest from the market. At the end of the year, check your account balance, how well did you do for that