Impact of U.S Interest Rate Hike
10 years ago
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Showing posts with label Support and Resistance. Show all posts
Showing posts with label Support and Resistance. Show all posts
Tuesday, October 14, 2008 chart h1 - 1 am Malaysia as expected, price retraced to weekly 50% fibo (176.00) a high-wave candle followed by a hanging man should confirmed downwards move entered a sell position at 175.20 with tight stop-loss (176.30) 1st TP - 170.68 UPDATE: SL hit - loss 90 pips Monday, October 13, 2008 monthly and h4 charts - 9 am Malaysia monthly trendline broken - shows that bear is still in charge however, pinbar or bullish hammer candle at daily chart indicates possible upwards retracement confluence of weekly 50% level and monthly trendline (176.00) as long as this resistance level are not broken, my sentiment stays BEARISH.. strategy: stay out of upwards retracement and wait for bearish continuation patterns should last week low is broken, my next TP is 153.xx let see how the market play it out.... DO NOT CHASE THE MARKET LET THE MARKET COME TO US.... B-) p/s... a high reliable abandoned baby pattern has formed at h4 chart UPDATE: by 10.30 am, price touched 168.56 potential 350 pips gain Wednesday, October 8, 2008 chart h4 - 5 pm Malaysia should Monday low is broken, we might see 166.xx soon even beat my prediction on Aug 15th... see here scary ek... :-s  h1 chart - 12 pm Malaysia price in ranging mode breakout of tokyo range will determine next direction... as long as the price is below minor trendline, i am bearish biased... B-) UPDATE: 1.10 pm - tokyo low broken.... +70 pip by 1.15 pm... already in trailing mode.... hit TP +180 pip by 1:30 pm [-o< Wednesday, September 24, 2008 daily chart - 5 am Malaysia market moved in a tight consolidation range for 2nd day... could breakout in either direction... even though, looks likely bears have a slight advantage now... better wait for breakout of yesterday hi-lo... :-? UPDATE: price trying to test the top resistance... decided to stay out Friday, September 19, 2008 h1 chart - 6.30 am Malaysia crucial S/R levels : 192.086 & 189.686 price is overbought zone at h4... central banks intervention failed to move the market upwards... stock markets still in trouble... last two candles indicate bulls exhaustion?? will the bears make a comeback?:-? UPDATE: price broke resistance 192.086 at 10 am... hit my SL 19.30...:( Friday, September 12, 2008 chart 30 min - 6.30 am Malaysia main trendline = DOWN... minor trendline = DOWN... price FAILED to break minor trendline & yesterday high... 187.80 - previously a support - now should turns to be a resistance... should i say anymore...? @-) UPDATE: price surged upwards to 193.697 moral of the story: you can't win all of them =)) Tuesday, September 9, 2008 daily chart - 5 am Malaysia expecting price to keep ranging within these two S/R levels... a breakout of 193.60 or 188.50 will determine next direction... meanwhile.... bears still in charge... there are still plenty of salmons for the bears down there.. :d
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