Wednesday - 27 Feb 2008
8.50 a.m. - Malaysia time zone
Yesterday, the market open at 3900 and closed at 3792. The highest was at 3903 and the lowest was at 3760.
After 6 consecutive days of white bars, the market decided to put a correction yesterday. Was it a correction or probably the reversal point of the bullish sentiment?
I made a loss yesterday. After opening, the market fell quite sharply but after 8 minutes, as there was a very short "consolidation period", I managed to put a buy at 3875 and also put a stop loss at 3865. Anyway the market was not in my favour . Instead the market kept pushing southwards especially after beating the level 3830, just like I mentioned yesterday. So I loss 15 points.That's it, you cannot win all the time.Besides there was also no clear formation of trendlines except before lunch break. From my experience, if the market is in the correction or reversal phase, it is better not to take any position especially if the market starts to show sign of , in this situation, going up again.
Today
It still looks like the market is still in the bullish situation;
1) At this point of time, I would prefer to say that if the market opens at 3786 and above and starts to move up and later beats the level between 3797 to 3802 then a buy position can be placed here or if the market opens at any points and later starts to move up to pass the level between 3797 to 3802, then the market is expected to move further up. If the market opens at any point but does not go up beating the level between 3797 to 3804 then the market could be in the indecision period but if the market starts to move downwards and beat the level between 3759 to 3752 then a further down could happen today. If the market opens above between 3802 to 3820 then the market may go up further.
2) Besides the above, also look for a clear pattern of trendlines which you are familiar with. If there is no clear pattern, just stay away.
Happy trading
Wednesday, February 27, 2008
Tuesday, February 26, 2008
Today's Forecast
26 Feb 2008
9.10 a.m. - Malaysia time zone
Yesterday ( Monday - 25th Feb) the market open at 3782 and closed at 3866. The highest ( again the highest ever recorded ) was at 3914 and the lowest was at 3776.
Since I did not make any forecast on yesterday's market so there was nothing for me to "say" today. There was also no clear formation of trendlines which could be recognised
Today
I would rather say that , in a very short term, the market is still bullish except that if the market manages to break the level 3830 and starts to decend further southwards;
1) Preferbably take position only if the market opens between 3855 to 3935 ( this is the position for bullish expectation ). If the market opens within this range and later moves downwards from 13 to 21 points from opening , then a long position can be placed here except if it passes 3853 and downwards, then there may chances that the market may retrace further down. Remember to put a stop loss between 10 to 15 points from the long position that you have taken. I received an e-mail from one of the viewer asking me the best position to buy after the market has reached the level where we are suppose to buy. Actually there is a strategy but it is quite hard for me to explain here as it needs a chart. With this strategy you can minimise the losing risk.
2) If the market opens between 3830 to 3855 and later later retraces to beat down 3830 , I would figure that the market may retrace further. Then a sell position could be placed here. There is a strategy to place a sell here in order to minimise the loss.
3) If the market opens at any point and later starts to move up passing 3920 or open above 3920 , the market may move up further. Anyway if the market opens above 3940 , it may be a black bar today
4) If no position taken after opening, then look for a clear formation of trendlines which I have mentioned earlier in my last postings but focus more on the trendlines that would signal a sell rather than a buy ( In fact you can still put a buy here but you have to look at the "trend" of the market ).
4) As usual, I am only speculating and I may be wrong. The choice is still yours.
Have a nice day and happy trading!
9.10 a.m. - Malaysia time zone
Yesterday ( Monday - 25th Feb) the market open at 3782 and closed at 3866. The highest ( again the highest ever recorded ) was at 3914 and the lowest was at 3776.
Since I did not make any forecast on yesterday's market so there was nothing for me to "say" today. There was also no clear formation of trendlines which could be recognised
Today
I would rather say that , in a very short term, the market is still bullish except that if the market manages to break the level 3830 and starts to decend further southwards;
1) Preferbably take position only if the market opens between 3855 to 3935 ( this is the position for bullish expectation ). If the market opens within this range and later moves downwards from 13 to 21 points from opening , then a long position can be placed here except if it passes 3853 and downwards, then there may chances that the market may retrace further down. Remember to put a stop loss between 10 to 15 points from the long position that you have taken. I received an e-mail from one of the viewer asking me the best position to buy after the market has reached the level where we are suppose to buy. Actually there is a strategy but it is quite hard for me to explain here as it needs a chart. With this strategy you can minimise the losing risk.
2) If the market opens between 3830 to 3855 and later later retraces to beat down 3830 , I would figure that the market may retrace further. Then a sell position could be placed here. There is a strategy to place a sell here in order to minimise the loss.
3) If the market opens at any point and later starts to move up passing 3920 or open above 3920 , the market may move up further. Anyway if the market opens above 3940 , it may be a black bar today
4) If no position taken after opening, then look for a clear formation of trendlines which I have mentioned earlier in my last postings but focus more on the trendlines that would signal a sell rather than a buy ( In fact you can still put a buy here but you have to look at the "trend" of the market ).
4) As usual, I am only speculating and I may be wrong. The choice is still yours.
Have a nice day and happy trading!
Monday, February 25, 2008
Mondays's expectation
Monday - 25 Feb 2008
9.45 a.m.
The market on Friday open at 3677 ( May's contract ) and closed at 3698. The highest was at 3720 and the lowest was at 3660.
The market open not within the ranged that I have suggested instead it open under 3690 and within minutes it retraced to the level below 3662. I did mention that the market would go further down had this level been broken but this did not materialise.After reaching this level, the market started to climb to the highest level ever recorded. This indicates that, if the market today ( Monday ) is not able to to proceed further up, it would mean that the market will be in a consolidation phase.There was also no clear formation of trendlines that could be noticed.
Today
As for today, I would prefer to say that the market is still in the bullish stand. Any way if the market ends up in a small black bar or just small white bar , I would say the market will be in the cosolidation period. Just beware , if the market opens below 3689 and later passes down the 3672 or open at any point and later moves to pass down the 3672 level, it may lead to a further low. If not, as I said earlier , it may lead to indecision situation. If the market opens above 3704 and beats 3722 , it may lead to a further high. As for me ,I beg to decline to forecaste anything today except I would rather look at clear formation of trendlines such as head and shoulder, 3 tops etc.
9.45 a.m.
The market on Friday open at 3677 ( May's contract ) and closed at 3698. The highest was at 3720 and the lowest was at 3660.
The market open not within the ranged that I have suggested instead it open under 3690 and within minutes it retraced to the level below 3662. I did mention that the market would go further down had this level been broken but this did not materialise.After reaching this level, the market started to climb to the highest level ever recorded. This indicates that, if the market today ( Monday ) is not able to to proceed further up, it would mean that the market will be in a consolidation phase.There was also no clear formation of trendlines that could be noticed.
Today
As for today, I would prefer to say that the market is still in the bullish stand. Any way if the market ends up in a small black bar or just small white bar , I would say the market will be in the cosolidation period. Just beware , if the market opens below 3689 and later passes down the 3672 or open at any point and later moves to pass down the 3672 level, it may lead to a further low. If not, as I said earlier , it may lead to indecision situation. If the market opens above 3704 and beats 3722 , it may lead to a further high. As for me ,I beg to decline to forecaste anything today except I would rather look at clear formation of trendlines such as head and shoulder, 3 tops etc.
Thursday, February 21, 2008
Forecast for Friday
Thursday - 21 Feb 2008
11.45 p.m. - Malaysia time zone
Today the market open at 3685 and closed higher at 3702. The highest ( highest in the history again ) was at 3708 and the lowest was at 3668.Due to some technical problems yesterday, I was not able to forecast on today's market .
What about tomorrow ( Friday )
Tomorrow will be the last day for the week. In short term, I believe the market is still bullish, so I expect tomorrow will also be bullish, at least in the early part of the trading;
1) Take position only if the market opens between 3690 to 3735. If the market opens within this range, wait until the market falls to the level between 5 to 11 points then only a buy position could be placed here. Make sure to put a stop loss between 10 to 15 points after a long position has been established. After opening , if the market goes downwards in a very fast way, just be extra careful before placing the buy position.Wait untill the market consolidates then only a buy position could be taken.
2) If the market opens below 3690 and starts to retrace passing down between 3680 to 3676, the market may go down further. If the market retraces further to go below 3662, the probability of black bar tomorrow is quite great.
3) If the market opens below 3676, look to sell especially if it beats down the level 3662
4) If the market opens above 3775, the market could be a black bar tomorrow.
5) If no position is to be taken after opening, look for a clear trendlines such as head and shoulder, 2 Tops, 3 Tops etc
6) As usual, this is only my forecast , if you have any doubt, contact your broker
11.45 p.m. - Malaysia time zone
Today the market open at 3685 and closed higher at 3702. The highest ( highest in the history again ) was at 3708 and the lowest was at 3668.Due to some technical problems yesterday, I was not able to forecast on today's market .
What about tomorrow ( Friday )
Tomorrow will be the last day for the week. In short term, I believe the market is still bullish, so I expect tomorrow will also be bullish, at least in the early part of the trading;
1) Take position only if the market opens between 3690 to 3735. If the market opens within this range, wait until the market falls to the level between 5 to 11 points then only a buy position could be placed here. Make sure to put a stop loss between 10 to 15 points after a long position has been established. After opening , if the market goes downwards in a very fast way, just be extra careful before placing the buy position.Wait untill the market consolidates then only a buy position could be taken.
2) If the market opens below 3690 and starts to retrace passing down between 3680 to 3676, the market may go down further. If the market retraces further to go below 3662, the probability of black bar tomorrow is quite great.
3) If the market opens below 3676, look to sell especially if it beats down the level 3662
4) If the market opens above 3775, the market could be a black bar tomorrow.
5) If no position is to be taken after opening, look for a clear trendlines such as head and shoulder, 2 Tops, 3 Tops etc
6) As usual, this is only my forecast , if you have any doubt, contact your broker
Thursday - 21 Feb 2008
Thusrday - 21 Feb 2008
9.00 a.m.
Sorry, there is something wrong with my computer connection, my postings on today's market forecast did not go through.
9.00 a.m.
Sorry, there is something wrong with my computer connection, my postings on today's market forecast did not go through.
Tuesday, February 19, 2008
Wednesday - 20 Feb 2008
19 Feb 2008
9.55 p.m. - Malaysia time zone
Edited at 8.30 a.m.- 20 Feb 2008
The market today open at 3588 and closed at 3625. The highest was at 3646 and lowest was at 3555. It seemed that today is the highest points ever recorded.It also seems that the market is breaking a new record almost everyday.
The market today open within the body of yesterday black's bar. In normal circuntances, if this situation occurs , it indicates the market will be a white bar.After 8 minutes of opening the market went down reaching more than 12 points as forecasted by me yesterday ( I forecasted between 12 to 20 points ).Today I managed to put a buy at 3567 but because my stop loss was only at 10 points after my buying position, I made a loss today! Those who had bought at this level but had put 15 points stop loss should have made quite a handsome profits!
There was also a pattern of inverted head and shoulder; the shoulder was at 10.38 a.m., the head was at 10.46 a.m. and another shoulder which was not in a clear pattern either at 11.00 a.m. or at 11.30 a.m. It was quite a gamble should this position had been taken ( long position ) as it proved later that the market started to climb to the highest points ever recorded.
Tomorrtow?
I would still prefer to say that the market is still "bullish" but if the market opens at any point tomorrow ,especially if it opens below 3525, and later starts to retrace down between 3615 to 3610 and downwards , the market may be retracing further down, look for a signal to sell by using trendlines which you are familiar with! If the market opens above 3527 and above, it could go further up and a new record high would be in the making.
This is only my forecast, I may be wrong again just like today. If you are in doubt , just contact your broker.
Have a nice day!
9.55 p.m. - Malaysia time zone
Edited at 8.30 a.m.- 20 Feb 2008
The market today open at 3588 and closed at 3625. The highest was at 3646 and lowest was at 3555. It seemed that today is the highest points ever recorded.It also seems that the market is breaking a new record almost everyday.
The market today open within the body of yesterday black's bar. In normal circuntances, if this situation occurs , it indicates the market will be a white bar.After 8 minutes of opening the market went down reaching more than 12 points as forecasted by me yesterday ( I forecasted between 12 to 20 points ).Today I managed to put a buy at 3567 but because my stop loss was only at 10 points after my buying position, I made a loss today! Those who had bought at this level but had put 15 points stop loss should have made quite a handsome profits!
There was also a pattern of inverted head and shoulder; the shoulder was at 10.38 a.m., the head was at 10.46 a.m. and another shoulder which was not in a clear pattern either at 11.00 a.m. or at 11.30 a.m. It was quite a gamble should this position had been taken ( long position ) as it proved later that the market started to climb to the highest points ever recorded.
Tomorrtow?
I would still prefer to say that the market is still "bullish" but if the market opens at any point tomorrow ,especially if it opens below 3525, and later starts to retrace down between 3615 to 3610 and downwards , the market may be retracing further down, look for a signal to sell by using trendlines which you are familiar with! If the market opens above 3527 and above, it could go further up and a new record high would be in the making.
This is only my forecast, I may be wrong again just like today. If you are in doubt , just contact your broker.
Have a nice day!
Monday, February 18, 2008
What's on on Tuesday
18 Feb 2008
11.55 p.m. - Malaysia Time Zone
Today the market open at 3508 ( May contract ) and closed at 3599. The highest was at 3600 and the lowest was at 3508.
I have no comment on that.
As for Tuesday, I would like to say that the market is still in bulish sentiment. As I said earlier on , my strategy focuses more on the early part of the opening rather than closing. So if the market tomorrow is to close a black bar, it would make no different to the strategy;
1) Take position only if the market opens between 3534 to 3627
2) If the market does not open within these points or no position is to be taken even if the market opens within these points, then , during the trading, look for a clear formation of the trendlines which are familiar to you.
1.1) If the market opens between 3534 to 3627, put a buy position when the market retraces to a level of 12 to 20 points from the opening. If the market moves down at a very fast rate, just be very careful.It may make you to buy at the wrong position and probably you might have to execute your stop loss position ( In this case, experience plays an important part here )
1.1) If the market opens above 3627 , the market may retrace down. If not sure what to do next , just stay out of the market.
1.2) If the market opens below 3534 and later starts to move and passing down the points between 3522 to 3517, it may lead to a further fall in the futures's prices. If the market opens at any point between 3534 to 3627 , especially if it is near to the lower end, and then starts to decend down between 3522 to 3517 and below, the market may decend further down.
As I mentioned earlier, this is only a forecast, I could be wrong and I have been wrong for quite a number of times. If you have any doubt, please consult your broker.
11.55 p.m. - Malaysia Time Zone
Today the market open at 3508 ( May contract ) and closed at 3599. The highest was at 3600 and the lowest was at 3508.
I have no comment on that.
As for Tuesday, I would like to say that the market is still in bulish sentiment. As I said earlier on , my strategy focuses more on the early part of the opening rather than closing. So if the market tomorrow is to close a black bar, it would make no different to the strategy;
1) Take position only if the market opens between 3534 to 3627
2) If the market does not open within these points or no position is to be taken even if the market opens within these points, then , during the trading, look for a clear formation of the trendlines which are familiar to you.
1.1) If the market opens between 3534 to 3627, put a buy position when the market retraces to a level of 12 to 20 points from the opening. If the market moves down at a very fast rate, just be very careful.It may make you to buy at the wrong position and probably you might have to execute your stop loss position ( In this case, experience plays an important part here )
1.1) If the market opens above 3627 , the market may retrace down. If not sure what to do next , just stay out of the market.
1.2) If the market opens below 3534 and later starts to move and passing down the points between 3522 to 3517, it may lead to a further fall in the futures's prices. If the market opens at any point between 3534 to 3627 , especially if it is near to the lower end, and then starts to decend down between 3522 to 3517 and below, the market may decend further down.
As I mentioned earlier, this is only a forecast, I could be wrong and I have been wrong for quite a number of times. If you have any doubt, please consult your broker.
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