Trade, Live and Thrive: 11/07/16

Monday, November 7, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Bull Support - Week 2 of November 2016.

Learning from last Week: (click here for the previous post)

Patterns:
Bears close the index below 2116 last week, Previous week's Engulfing turns into a 'Three Outside down' #Weekchart1.

Support & Resistance:
Support was at the daily 200MA #DayChart1. Resistance near the daily 5 EMA #Daychart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA13, only on the Month Chart #Monthchart1.

Indicators:
The RSI in the over sold #WeekChart2.

Wrap:Bears turn the weekly Engulfing pattern into a 'Three Outside Down' #WeekChart1.
Bulls defend the 200 MA #DayChart1.

Looking forward into this Week:

Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts #MonthChart1.
'Three Outside down' is active on the Weekly Charts (Study Links here, here or elsewhere).

Support & Resistance:
2166 is the resistance that Bears would want to stay below. Daily 200MA is support for Bulls #DayChart1.

Moving Averages:
5 EMA on the Week chart i,e, 2122, is the mark, that the Bulls want to stay above, this week #WeekChart1.

Indicators:
TSI takes support at the 62% Fibonacci mark #MonthChart2.

Wrap:
Bulls after defending the 200 MA, look to stem the flow of red candles #DayChart1.
Bears need to stay below 2166 and prevent a Higher High #DayChart1.

CAC 40 - Ichimoku Weekly Study - Higher Low - Week 2 of November 2016.

View above chart at.. (Click)

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from the Earlier Study:

Index moves into the Kumo with help from a Bullish Tenkan Sen (blue) Kijun Sen (red) cross earlier.
Resisted by the Senoku Span B (pink) index, dives below the the Kumo (cloud).
Chikou Span (white) tries to find its space moving in and out of the Price line.

Wrap:
Index resisted by the Senoku Span B falls below the Kumo.

Looking Forward into this Week:

Bears want to keep the index below the Kumo and Weekly resistance.
Last week's low (higher than previous) important for desperate Bulls.
Senoku Span A & B, meeting in the offing - Bearish Cross or Bullish Deflection next.

Wrap:
Bears look to keep below to the Kumo and aim for the Monthly Support..
Bulls seek life inside the Kumo (cloud), after a take off from last week's low.

SGX Nifty - Ichimoku Weekly Study - Support - Week 2 of November 2016.

View above chart at.. (Click)

Introduction / Primer to Ichimoku can be read at this link (click).

Learning from the Earlier Study:

Resisted by the Tenkan Sen (Weekly resistance) for 5 weeks, Index moves down, towards support at the Kijun Sen (Weekly Support).
Tenkan Sen provides exact resistance last week.
Chikou Span aims for what could be support, at the Senoku Span B.

Wrap:
Index resisted by the Tenkan Sen (Weekly resistance) falls to the Kijun Sen (Weekly Support).

Looking Forward into this Week:

Bears want to keep the index below the Tenkan Sen - Weekly resistance - and aim for the Kumo.
Kijun Sen - Weekly Support - important for desperate Bulls.
Chikou Span almost at the Kumo - Bearish Cross or Bullish Deflection next.

Wrap:
Bears look to continue this fall to the Kumo (Cloud).
Bulls look for green at the Kijun Sen - Weekly Support - and a Chikou Span Deflection.

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Welcome Read

The Trading methods used here are suitable for those who (like me) are always Learners in the World Market (never presuming Mastery).

One learns with 'Technical Analysis' using Moving Averages, Channels, Time frames, Pattern & Candlestick Analysis, Fibonacci, Ichimoku Cloud, Oscillators & other Technical Indicators.

To comprehend the Dynamics of any Market, Peer Wisdom suggests, that we show plenty of Patience, keep it real Simple and adopt tons of Discipline.

We therefore use the same framework 'Patiently' every week - 'Simple' Technical Analysis Tools are repeated - The 'Discipline' of keeping a Neutral view is maintained.

So welcome to my notes - posted here for my Friends and Family.

Some Quotes..

There are times when playing the stock market that your money should be inactive - waiting on the sidelines in cash - waiting to come into play. In the stockmarket - time is not money - time is time and money is money. Often money that is just sitting can later be moved into the right situation at the right time and make a vast fortune – patience – patience. Patience is the key to success not speed.

Jesse Livermore.

That's been one of my mantras - focus and simplicity. Simple can be harder than complex: You have to work hard to get your thinking clean to make it simple. But it's worth it in the end because once you get there, you can move mountains.

Steve Jobs.

Discipline is the bridge between goals and accomplishment.

Jim Rohn.

Favorite Quote

"Why do we trade?

To be sure, trading allows us independence, the opportunity to work for ourselves. Trading also offers the prospects of a lifestyle in which evenings and weekends need not be consumed by work. Some of us crave the competitive aspect of trading, doing fresh battle each day. Others approach trading as a puzzle to be solved, deriving a sense of intellectual achievement. Finally, there is income. A successful trader can make seven figures in a year—and many of the traders I work with are living proof of that.

So why do they trade? Once you have the money, all of trading’s lifestyle advantages could easily be yours. Needs for competition and intellectual stimulation could be met in so many other ways. Why do traders remain traders long after they’ve won the game?

The great professions are those that serve as personal playing fields. They are the arenas we choose to express and develop ourselves. In mastering a discipline, we cultivate self-mastery. In writing a poem or placing a large trade, we capture—in a single act—our vision of how we see the world at that moment.

The great occupations are great precisely because they are such meaningful playing fields. Long after we’ve earned fame and fortune, the calling remains to be more than we are, to return to the arena and do battle with our limitations. The profound urge to extend the human grasp is common to all the great callings. To run faster, to capture more beauty, to predict ever better: in no small measure, our work is our pursuit of the godlike, however fleeting.

Maybe it is our different images of the godlike that animate our career choices.In work we find something divine within ourselves. Whether as scientists, monks, or traders, we strive for those moments when we are just a little closer to perfection, a little nearer to immortality. That is why we trade"

.... Brett N. Steenbarger

Inspiration

The Parable of Talents...

14 For the kingdom of heaven is as a man travelling into a far country, who called his own servants, and delivered unto them his goods. 15 And unto one he gave five talents, to another two, and to another one; to every man according to his several ability; and straightway took his journey. 16 Then he that had received the five talents went and traded with the same, and made them other five talents. 17 And likewise he that had received two, he also gained other two. 18 But he that had received one went and digged in the earth, and hid his lord's money. 19 After a long time the lord of those servants cometh, and reckoneth with them. 20 And so he that had received five talents came and brought other five talents, saying, Lord, thou deliveredst unto me five talents: behold, I have gained beside them five talents more. 21 His lord said unto him, Well done, thou good and faithful servant: thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord. 22 He also that had received two talents came and said, Lord, thou deliveredst unto me two talents: behold, I have gained two other talents beside them. 23 His lord said unto him, Well done, good and faithful servant; thou hast been faithful over a few things, I will make thee ruler over many things: enter thou into the joy of thy lord. 24 Then he which had received the one talent came and said, Lord, I knew thee that thou art an hard man, reaping where thou hast not sown, and gathering where thou hast not strawed: 25 And I was afraid, and went and hid thy talent in the earth: lo, there thou hast that is thine. 26 His lord answered and said unto him, Thou wicked and slothful servant, thou knewest that I reap where I sowed not, and gather where I have not strawed: 27 Thou oughtest therefore to have put my money to the exchangers, and then at my coming I should have received mine own with usury. 28 Take therefore the talent from him, and give it unto him which hath ten talents. 29 For unto every one that hath shall be given, and he shall have abundance: but from him that hath not shall be taken away even that which he hath. 30 And cast ye the unprofitable servant into outer darkness: there shall be weeping and gnashing of teeth.

The Holy Bible: Matthew - Chapter 25.