dchua1969

dchua1969

At time of writing, DJI is now at 24,033, up about 1% thus far. Looking at the rectangle, we can see the price action is stuck in a tight range as if something is brewing below. It can goes either way, break up the resistance and heads further up or breaks down and goes further south. Some analysts ares saying this V-shape recovery is not sustainable and thus...

dchua1969 Updated 

We just took a long position a moment ago. See chart for further explanation.

dchua1969

what are your views ?

dchua1969

Bullish trend intact. Covid -19 breed fears and uncertainty . People are fearful. So, they will park some funds into safe haven asset like Gold. Catching the train at the first station is not the most important as some traders have a mentality of either I am in at the bottom or I am out. They cannot put their ego aside, feeling embarrassed to have missed it....

dchua1969

I]n an information-rich world, the wealth of information means a dearth of something else: a scarcity of whatever it is that information consumes. What information consumes is rather obvious: it consumes the attention of its recipients. Hence a wealth of information creates a poverty of attention and a need to allocate that attention efficiently among the...

dchua1969

From the beginning of 2020, you can see from the chart that RAND (BRL) currency has depreciated more than 38% against the US dollars. That makes it even harder for the merchants and business owners in Africa who needs to sell much more than before to make the same US dollars. EZA, the ETF tracking South Africa has also shown a lacklustre performance todate as...

dchua1969

I will wait for 57.60 support to be broken down , pull back before initiating a short position. Alternatively, it could rebound from this level and goes up to 63.50. That will be better as the selling will be done at a higher price.

dchua1969

Read all about this company here If you have not bought this stock, wait for it to come down first. Judging at the high demand now, it may rebound upon touching the bullish trend line and goes up higher. Ideally, at 244.85 where the gap is, it can be filled up before rebounding. Let's wait for the price to come to you.

dchua1969 Updated 

The depth of the cup will be where the target it will goes up to , i.e. 2879.70. If that happens, our short position will be taken out since we short it when it broke down from the bullish trend line. How will the jobless claims data affect the move ? Let's see what Mr Market reveals to us in 2 hours time....... Of course, if the resistance is not broken out...

dchua1969 Updated 

Those of you who catch it at the bottom at 564 price level would have made around 39% profits. Congratulations !!!! Again, I emphasise, if you are already in other precious metals like Gold and/or silver, you may not want to long this as it would increase your risk exposure. Now, let's wait for the correction before taking a long position .

dchua1969 Updated 

If you study this chart closely, you would notice that the first buying opportunity lies at 2416 price level where the bearish trend line was broken out on 25 Mar 2020. It went up twice but failed but the next day, 26 Mar 2020 1900 hours, it shoot up with a nice bullish engulfing candle. You can see the 2nd buying opportunity was at 2466.80 level on 28 Mar 2020....

dchua1969 Updated 

Dont chase the price now there is a possibility that there might be another leg down, revisiting the 4959 price level. If it does, that would a good price to buy. From this article ,such stimulus by government will help shore up the stock market, albeit temporarily. In the past, I made the mistakes of chasing price even though I am on the right trend but the...

dchua1969

Let's ride the trend down to fill up the first gap as shown on chart. Thereafter, I suspect a rebound to take place. So this short is a short trade and will be watching the profit taking fairly fast.

dchua1969

Says Richard Branson who is facing cash flow challenges in his airlines. If the government fails to bail it out, how would it looks on the international scene ? Is the government at a catch 22 situation ? For traders, are you betting to buy now at bargain price or to short further ? I will do neither but use this information as a piece of the puzzle to better...

dchua1969 Updated 

I am sure some of you will find this phrase familiar as it was commonly used in the TV series, Sherlock Holmes. He has a knack for details unlike ordinary people and his inquisitiveness and peculiar way of looking at things make him a good detective. You can say he is not someone who abides by the traditional rules but rather choosing to see things based on his...

dchua1969

When you see price action in a channel, you know somehow it is going to take a while for a trigger to takes place. Without a break out or break down, this pattern can play ding dong for a while. So, either you take quick profits or wait for the break out to happen first.

dchua1969

See chart

dchua1969 Updated 

You can see from the chart that USOIL has two bottom - one in Mar 1986 at 9.743 and another in Nov 1998 at 10.66. So, that is most likely the worst we can expect for oil to go down to unless it breaks this 2 level. Read latest article on the plunge this morning If you had not longed yet, just wait for the price action to stabilise else there is a chance of...