dchua1969

dchua1969 Updated 

entry : 1.095 SL : 1.097

dchua1969 Updated 

Haha, I had a few PM last nite from a few followers asking me why my analysis on DJI, SPX500 were way off from the market! First thing first, I can't predict the market moves (If I can, I will be hiding somewhere and making tons and tons of money like the Feds busy printing money). So, getting the trade setups wrong is part and parcel of the game. Next, like...

dchua1969 Updated 

This is a saying in sales - always pluck the lower hanging fruits first. That means, to go after friends, family members, your network or warm leads before you move to the next circle of cold leads. Is it always true ? It depends, some sales professional are really good with cold leads like canvassing on the streets, making friends or contacts in networking...

dchua1969 Updated 

At the time of writing ,the price of DAX is 9814 and counting down........ The 3 musketeers are similar to the triple top formation though the latter is usually seen on the top. One thing to take note is short ONLY when the trend line is broken AND do not assume it must follow the red arrow as shown. It is so easy to make this mistakes and is a costly one, mind...

dchua1969 Updated 

For some reasons, I can only access the day , weekly and monthly chart and not the hourly ones. So, you can see that we are almost reaching the top. We have about 800 points to go before a correction is likely to happen. Of course, it may retrace before at that point so be careful if you are going to long this index. You need to have a wider SL in order not to be...

dchua1969 Updated 

How long can a counter stays in the dark valley (bear mode)? Well, it can take months to years. As it is for Oil now, you can see clearly the 3 bearish trend lines remain intact. And I have shown you the other 2 support lines, 17.51 on 19 Nov 2001 and 10.83 on 15 Feb 1999 which the Oil price might revisit again. When ? Your bet is as good as mine. It is possible...

dchua1969

India receives much lesser attention than other countries in the space of Covid-19. I get to read its news when I turned on the TV each night at home. And if I do not google specifically for news containing India, it would be easy to forget about this country. So if something is out of your mind, it is also likely to be out of your sight. Think about it and see...

dchua1969

A follower wanted me to do a chart analysis on this. Here you go : 1. Weekly bullish trend is broken down 2. Daily bearish trend remains intact 3. 4H chart price action bearish Would I trade this ? Unlikely ! Why ? Thanks for asking , haha. 1. Rules - Sell high , buy low. Are we at the high point or low point ? The answer is low point. That means you have...

dchua1969 Updated 

USDJPY is locked in a wedge pattern for a long time in the weekly chart (see the two black lines), registering lower highs on the top and higher lows on the bottom. On the 4H chart, price has already broken down from the bullish trend line and last week, we had made more than 300 pips profits on shorting it. We expect more downfall in the coming weeks.

dchua1969 Updated 

Those who are already in many USD pairs should take comfort that their long positions have gained them good profits. And one must never be too complacent and expect the market to behave in a certain way. The market is full of surprises and it often launch its attack at time that you are not prepared for. Depending on where you have bought into this USDRUB, I...

dchua1969

Short : 6359 SL : 6747 Tgt 1 :5186 Tgt 2 : 4556

dchua1969 Updated 

Read article here The challenge here is no longer about the size of the stimulus but the standard and capabilities of its public healthcare system. India is a big country and it is also densely populated. To enforce social distancing , imo, is going to be tough, very tough where there are many rural villages that lack clean water ,the basic necessity to keep...

dchua1969 Updated 

It has now breached the bullish trend line and we are shorting at the time of writing this post. Profit target would be 20.81 area. SL at 23.90 just above the bullish trend line. No need to place any higher as if the price does return back to the bullish trend line, it is more likely to go up and will take you out despite your wider SL. Yes, of course, there...

dchua1969 Updated 

Support established at 1460 level giving a good buy signal. Now it is heading towards 1612, acting as resistance. If it can breaks above, then we can see it charge higher. If you already long at 1500 level, consider taking some profits. With so much volatility and new news happening on an hourly basis in each country and how we are all interconnected, it pays to...

dchua1969 Updated 

1. US covid-19 situation - President Trump is overly optimistic about this matter, saying he wants the country to reopen in April in line with Easter day. While his intention is good, he may not fully understand the situation that different states are experiencing. Governor of New York is so desperate that he said be prepared to collect 26,000 bodies as they are...

dchua1969 Updated 

You can see that USDJPY is engaged in an ascending channel pattern and this can last for a while before it breakdown. So, if you want to short, you got to be patient for this pattern to play out till the end. Any attempt to execute prematurely will not only tie up your capital but also affect your mood swing of seeing your paper profits turn loss turn profits, a...

dchua1969 Updated 

Congrats to those who bought GBPUSD at the triple support level at 1.144. Now, it is facing some resistance at 1.191. It may pull back a little before heading higher or revisit the 1.144 support level again and then rebound. Those who are in profits can take partial and adjust your SL and let the remaining positions run its course. Those who wish to long, wait...

dchua1969 Updated 

The more than 20% jump from the low has many retail traders jumping for joy. That is excellent and I hope some had made good profits here ! However, I think the party is over. In 1H chart, we can see the bullish trend is broken down plus there is a gap from 18803 to 19645 awaiting to be closed. The probability is high. Fundamentally, the US economy has not...