Trade, Live and Thrive

Saturday, September 17, 2016

Brent Crude Oil - Ichimoku Weekly Study - Kijun Sen Support - Week 4 of September 2016.

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

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

Index again attempts to get out of the Kumo (unsuccessfully) #W2.
Chikou Span ranges, points to Price line - under the Kumo resistance #W1,
Bears manage to close below the Tenkan Sen and get an edge #W2.

Wrap:
Kumo gravity holds back the Bulls, falls to support at Kijun Sen #W2.

Looking Forward into this Week:

Bulls want the index above the Kumo and then above the last high #W2.
Bears push to go lower, down Kumo #W2.
Chikou Span nears the Price line - bearish cross or bullish deflection on #W1.

Wrap:
Bears aim to get below the last low, going down the Kumo #W2.
Bulls want to hold above the Kijun Sen and clear the Kumo #W2.

Say..

Monday, September 12, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Evening Starred - Week 3 of September 2016.

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

Patterns:
'Evening Star' Pattern, is active, and will be as long as the index is below 2171 #MonthChart1.

Support & Resistance:
Middle Tyne of the Fork on the Weekly chart cracks #WeekChart1, Index failed to make a bullish cross of the 5 EMA and 13 MA on the day chart #DayChart1. The 2015 High was Support #WeekChart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, only on the Month Chart #MonthChart1.

Indicators:
The STS dips from the oversold after a Pullback #DayChart2.

Wrap:
Bulls fall to 2015 High #WeekChart1. Bears capitalize on the possibility of an 'Evening Star' on the Month chart #MonthChart with a massive red week.

Looking forward into this Week:

Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) can stay active, if the September close is below 2171 #MonthChart1.

Support & Resistance:
Bottom Tyne of the Fork on the Weekly chart is support #WeekChart1. Bottom Tyne of the Fork on the Daily chart is first resistance #DayChart1.

Moving Averages:
The EMA 5, on the Long Term Chart is a 2128 for the month - a mark the Bulls need to defend #MonthChart1.

Indicators:
TSI returns from resistance at the 74% Fibonacci mark #MonthChart2.

Wrap:
Bulls seek life above 2171. Bears make honey with the 'Evening Star' possibility #MonthChart1.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Doji - Week 3 of September 2016.

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

Patterns:
Weekly candle makes a Gravestone Doji #WeekChart1.

Support & Resistance:
Index takes support, well above the 50 SMA #DayChart1, and above the Bottom Tyne of the Day Fork #DayChart1. Resistance was near the 2015 High, #WeekChart1.

Moving Averages:
The critical EMA 5, is bullishly above the MA 13, on all the above screens.

Indicators:
The STC clinbs, well above the 76% Fibonacci retrace #MonthChart2.

Wrap:
Index stays back in the Fork on the Day Screen #DayChart1. Bears send a grave message #WeekChart1.

Looking forward into this Week:

Patterns:
Index maintains green candles for the past 6 months. Bulls on Lucky 7? #MonthChart1.
Gravestone Doji (Study Links here, here or elsewhere) active on the Medium Term Charts #WeekChart1.

Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the support to beat for bears #DayChart1. The 13 SMA #WeekChart1, is fall back support. The ATH (9119) is resistance.

Moving Averages:
The 50 & 200 MA, are a in a 'Golden Cross' on the Day Screen #DayChart1.

Indicators:
The MACD and its histogram, are now around zero #Daychart2.

Wrap:
Bulls, on the 7th straight Green Month #MonthChart1. Bears look for change, make a gravestone Doji and aim for 8500 #DayChart1.

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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.