dchua1969

dchua1969 Updated 

The 1H chart shows an interesting pattern displayed in this USDCHF pair. You can see that price action was going sideway from 3 Dec to 10 Dec (1 week) before it breaks down. It attempted to break out of the support turn resistance level at 0.98592 several times but failed several times. Price action has been sitting on 0.98157 for a while and I see multiple...

dchua1969 Updated 

Since the news of the US-China trade agreement signing last week, many global indices have went up quite a fair bit. Looking at the fear index, it is once again touching the base which means a correction is forthcoming. Because this fear index spike up really fast. it is difficult (at least for me) to chart with accuracy where it would retrace. But like I...

dchua1969 Updated 

Details in chart

dchua1969 Updated 

In less than an hour's time, the central government of Japan will release its interest rate policy. 99.99% I am certain they will remain negative 0.10% as the current rate. This is a path of no return and the government will continue to print more money to prop up its economy. www.businesstimes.com.sg I am of the opinion that with the current prices in most...

dchua1969 Updated 

See chart Other than it is a Temasek backed bank, it is also one of the best managed bank in Asia. It has now broken out of the bearish trend line. Let's wait for the pullback and get ready to ride high with it.

dchua1969 Updated 

This 1H chart pleases 2 kinds of traders. The long traders who got in on 13 Dec at 0500 hours and ride the trend up for an hour to earn more than 2% returns immediately. The short traders who got in on 13 Dec at 1000 hours and slowly ride the trend down to where it breaks out from the support at 143.707. All GBP pairs are still in a bullish uptrend so this...

dchua1969

On the daily chart, it fails to break about the bearish trend line (dotted) and the price action has further break down from the resistance line , acting as confirmation to sell. Also, it has broken down from the bullish trend line (green) as well. Yes, there is also the possibility that Mr Market may fool us traders for a while by going sideway for a while...

dchua1969 Updated 

The Weekly and Daily chart provides a good big picture of where the price action is heading, may not be precise but the overall direction is there and that is important to a trader. Unless you are intraday trader, then this big time frame might be of little or no use to you. But, if you prefer to have less heartache and want to avoid going in and out of the...

dchua1969 Updated 

This is it ! It has broken out nicely from the bearish trend line since 3 Dec with a nice pull back that offers buyers at a lower price at 0.67995. This of course is the 2nd buying opportunity after the breakout. IF you based on price action, then you would notice that price has found support at 0.66979 region with a triple bottom support. That was the first...

dchua1969 Updated 

In TV, probably we can see the gap down but in IG and CMC platforms which I am using to trade, both NGAS charts show gap down on the 1 hour chart. The price fell from 2.33 to 2.19 , a drastic drop and also a short term buying opportunity for it to close the gap. There is support at 2.199 on 11 Oct 19 so I am expecting a pull back from here. Usually, when there is...

dchua1969 Updated 

Sometimes, when we get too focused on the smaller time frame like 4H and 1H, we might miss out the bigger trend. For USDCAD, the day chart is still bullish (green line). So on this 4H chart, I see support at 1.3158 and potentially price would break out soon from the bearish trend line (red). It is likely to head higher but possibility of a minor correction to go...

dchua1969 Updated 

In chinese, it means small grains of rice which we eat it from time to time for porridge (soft rice). More than a handphone manufacturer, they are now aggressively expanding into AIoT. The 4H chart shows it has break out of the bearish trend line and we are now awaiting for it to retrace to 9.48 before initiating a buy.

dchua1969 Updated 

There are still some uncertainty over US - China trade agreement especially in intellectual property, technology transfer and the human rights issue in Hong Kong. These are challenges that would take a longer time to iron out but eventually some form of agreement would be reached, imo. As seen on the 4H chart, price action is on a bullish trend with minor...

dchua1969 Updated 

In the 1H chart, you can see a nice cup and handle pattern being displayed nicely on the USDJPY pair. Now,it has just broken out of its handle and is moving up towards the rim of the cup or resistance level at 109.701. The more cautious ones can wait for it to break out of 109.701, pull back and buy or you can initiate a buy position now as it is still within the...

dchua1969 Updated 

If you are still holding oil contracts, congrats as it has now broken out of the resistance level at 59.47. Currently, it is taking a break, so we might see some correction, sideway move OR price continue to surge nicely along the bullish trend line. At around 61.68 which is the daily chart resistance level, it is preferable to take some money off the table OR...

dchua1969 Updated 

See chart

dchua1969 Updated 

see chart BAC has broke out of the resistance level and we can expect price to head much higher in the coming months. This is one of WB's favourite as well !

dchua1969 Updated 

Two options present itself now : 1. breakout of the resistance and continue to charge higher 2. breakdown and heads south to 0.675