Trade, Live and Thrive: 02/06/17

Monday, February 6, 2017

US - S&P 500 - Triple Screen 'Technical Analysis' - Fork Top Holds - Week 1 of February 2017.

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

Patterns:
Index faces resistance at the Monthly Fork's top Tyne again #Monthlychart.

Support & Resistance:
The Index again gets support near the Middle Tyne of the Day Fork #Dailychart. Resistance was again at the Top Tyne of the Month Fork #Monthlychart.

Moving Averages:
The critical EMA5, is bullishly above the MA13, on all Screens.

Indicators:
The RSI is oversold #WeeklyChart.

Wrap:

The top tyne of the Month fork resists the Bulls again #Monthlychart.

Looking forward into this Week:

Patterns:
Month fork with a Span of 25 years - sees the Price touch its top tyne and revert. Bulls need to breakout here, or index could fall to the fork's middle tyne.

Support & Resistance:
Middle Tyne of the Week Fork, is support and the Top Tyne of the Month Fork is again resistance.

Moving Averages:
5 EMA on the Week chart (2282), is the mark, that the Bears want to close below, this week #WeeklyChart.

Indicators:
STS slips from the over sold #DayChart.

Wrap:
Bulls are again at the Long term Channel top, now desperate for a breakout #MonthChart.
Bears hope to use the current resistance to go down below 2282 #Weeklychart.

CAC 40 - Ichimoku Weekly Study - Support Retest - Week 1 of February 2017.

Zoom into chart .. Click

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

Learning from the Earlier Study: (click here for the previous post)

Index takes support near the Tenkan Sen with last week showing a massive Doji.
Chikou Span (White) points down (extreme left).

Wrap:
Last week was a Doji and index took Support near the Tenkan Sen.

Looking Forward into this Week:

Bears want to get the Chikou Span headed back towards the Kumo (extreme left).
Bulls having achieved a higher high (weekly close) now look to go bottom out near a strong support.
Bulls have the choice of the Tenkan Sen, Kijun Sen or Kumo for Support

Wrap:
Bulls in pause mode, still look good to take support and trend up.
Bears seek to get index below the Tenkan Sen (Center - Weekly Support).

SGX Nifty - Ichimoku Weekly Study - Kijun Sen Cross! - Week 1 of February 2017.

Zoom into chart .. Click

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

Learning from the Earlier Study: (click here for the previous post)

Three White Soldiers pattern plays out and the Bulls cross the Kijun Sen (red).
Chikou Span (white) continues to climb, crosses above the Price line (see extreme left) .
Resistance (blue) line marked matches with a Higher High.

Wrap;
Index crosses the Kijun Sen, and then the Chikou Span makes a Bullish Cross.

Looking Forward into this Week:

Bears want to get the index below the Kijun Sen (red - Weekly Support) - and aim for life inside the Kumo.
Chikou Span - needs to stay above the Price line to keep the Bull move alive.
Life above the September 2016 high (marked) is the Bull ask.

Wrap:
Bulls look to keep above the Weekly Support line, and continue to the previous High.
Bears seek to prevent a Higher High and get Index back below Weekly Support.

Brent Crude Oil - Ichimoku Weekly Study - Tenkan Sen Support - Week 1 of February 2017.

Zoom into chart .. Click

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

Learning from the Earlier Study: (click here for the previous post)

Index stays Flat in a range - last week saw the Bulls dominate.
Tenkan Sen (blue) climbs up to support the index.
Chikou Span (white), pips up (see extreme left).

Wrap:
Chikou Span up, Index is Flat. Range break expectations high.

Looking Forward into this Week:

Bulls want to stay above the Tenkan Sen and make Higher Highs (Center).
Bears want to see the Chikou Span, point towards the Kumo.
The index stays flat / range-bound - range break imminent.

Wrap:
Bulls want more green, with life near old Highs and a continuation of current trend.
Bears want to see the Chikou Span head down towards the Kumo and the Index get below the marked supports.

Say..

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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.