Trade, Live and Thrive: 04/24/17

Monday, April 24, 2017

S&P 500 (Americas, USA) - 'Weekly Technical Analysis' - Support Works - Week 4 of April 2017.

Zoom into chart .. Click

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

Index takes off from Support at the 1.62 extension as marked above.

The Blue weekly 'Tenkan Sen' is resistance currently.

Wrap:
The Index rises from Support to the Tenkan Sen (Blue line).

Looking forward into this Week:

Bears need to get below the 1.62 extension - marked above.

Bulls seek Higher Highs, with help from the Piercing Pattern and off current support.

Index Support and Resistance possibilities are marked as above.

Wrap:
Bulls look to crack the Tenkan Sen staying above current support at the 1.62 Fibonacci.
Bears hope to restart the downward momentum, seek to change the trend.

CAC 40 (Europe Paris) - Ichimoku Weekly Study - Tenkan Sen Support - Week 4 of April 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)

Bulls bounce off the Tenkan Sen last week, and now have an option of making this a higher low.
Index has made a Higher High and above all indicators.
Chikou Span (White) dips towards Price line (extreme left).

Wrap:
Index after the Evening Star, takes support at the Tenkan Sen(Blue Line).

Looking Forward into this Week:

Bears see hope for more red and a dive to the Kijun Sen.
Bulls maintain Higher High - Higher Low.
Senkou Span A&B way apart.

Wrap:
Hopeful Bears look to the Evening Doji Star, for life below the Tenkan Sen (Center).
Bulls look to keep above the Tenkan Sen and maintain higher lows.

SGX Nifty (Asia Singapore) - Ichimoku Weekly Study - Tenkan Sen Respite - Week 4 of April 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)

Previous week's Shooting Star, gives the Bears, another decent red candle.
Chikou Span (white) points down towards the price line (see extreme left).
The Tenkan Sen (blue) was the Support.

Wrap:
Bulls dip to support at the Tenkan Sen, below the previous 'All Time High' - after the 'Shooting Star' candle.

Looking Forward into this Week:

Bulls hope that the support at the Tenkan Sen, would save them the Blushes.
Chikou Span, preferably, needs to point away from the Price line, to keep the Bull move, going.
Bear wish list, sees life below the March 2015 High, and a crash to sub 7070 levels.

Wrap:
Bulls riding the Bullish 'Tenkan Sen- Kijun Sen Cross', seek support at the Tenkan Sen.
Bears plan, to get the index below the Tenkan Sen and dive to the Kijun Sen.

Brent Crude Oil - Ichimoku Weekly Study - Deliberation Dive - Week 4 of April 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)

Bears fail to negotiate the resistance zone, Index falls below the Tenkan Sen..
Index below the 61.8% Fibonacci retrace of the last major High & Low.
Chikou Span (white) touches the price line (see extreme left).

Wrap:
Index below the Tenkan Sen after it fails to clear resistance zone - last 4 candles indicate 'Deliberation' and Fall.

Looking Forward into this Week:

Bears would want to keep Index below the Tenkan Sen(blue) and get the Chikou Span below the Price line.
Bulls, now just above the Kijun Sen - hope to take off, to above the Tenkan Sen.
With a Higher Low @ Kijun Sen, Bulls look to manage a Higher High above the recent resistance zone.

Wrap:
Deliberating Bulls fail to make a clear breakout from resistance zone..
Bears wish to crack the Kijun sen and send the index back towards the Kumo.

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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.