Trade, Live and Thrive

Monday, October 10, 2016

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Harami - Week 2 of October 2016.

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

Patterns:
Last week's action triggers a "Bullish Harami'  #WeekChart1.

Support & Resistance:
Day Fork's middle Tyne sends back the Bulls #DayChart1
Index closes just below the 50 MA #DayChart1.

Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all except month screen #MonthChart1.

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

Wrap:
Bears close below the 50 MA #DayScreen, Bulls produce a Bullish Harami #WeekChart1.


Looking forward into this Week:

Patterns:
Bullish Harami is active on the week charts (Study links here, here or elsewhere) #WeekChart1. A close above 8698 this week, triggers a 'Three inside up'

Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the first support #DayChart1. The Middle Tyne of the Week Fork is the 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 below zero #DayChart2.

Wrap:
Bears look to stay below the 50 MA and fall below the Day fork #DayChart1.
Bulls want more green with a weekly close above 8698 #Weekchart1.

Saturday, October 8, 2016

Brent Crude Oil - Ichimoku Weekly Study - Matching Highs - Week 2 of October 2016.

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

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

Index matches June high after popping above the Kumo #W2.
Chikou Span halts at the Price line, Tenkan Sen at Kumo top #W1,
Bears defend the June high #W2.

Wrap:
Index above the Kumo, draws level with the June high #W2.

Looking Forward into this Week:

Bulls want keep the index above the Kumo and then clear the June high #W2.
Bears want the index below the Tenkan Sen #W2.
Chikou Span nears the price line - bearish cross or bullish deflection on next #W1.

Wrap:
Bears look to use current resistances to get some red on the screen #W2.
Bulls want to keep it clear of the Kumo and get index above the June high #W2.

Say..

Monday, October 3, 2016

US - S&P 500 - Triple Screen 'Technical Analysis' - Evening Star - Week 1 of October 2016.

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

Patterns:
'Evening Star' pattern triggers on the long term screen #MonthChart1. Septermber candle was a Long Doji.

Support & Resistance:
Resistance was at the middle Tyne of the Week Fork #WeekChart1. Support near the 13 MA on the day charts #Daychart1.

Moving Averages:
The critical EMA 5, is again bearishly below the MA 13, only on the Week Chart #WeekChart1.

Indicators:
The RSI is near the oversold #WeekChart2.

Wrap:
Evening Star triggers on the Month Chart #MonthChart. September candle is a Doji..

Looking forward into this Week:

Patterns:
'Evening Star' Pattern (Study Links here, here or elsewhere) is active on the Long term charts, as the September close was just below 2171 #MonthChart1.

Support & Resistance:
5 EMA on the Week chart i,e, 2161, is the support Bulls want to defend #WeekChart1.
Middle Tyne of the Fork on the Week chart is resistance, that Bulls aim for #WeekChart1.

Moving Averages:
The EMA 5 and MA 13, on the Medium Term Chart cross Bullishly above 2188, a mark the Bears want to defend #WeekChart1.

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

Wrap:
Bulls after allowing an Evening Star #MonthChart1, seek a comeback with a move above 2188.
Bears want to keep below the middle Tyne of the Week Fork #WeekChart1 and aim for life below 2161.

India - CNX Nifty 50 - Triple Screen 'Technical Analysis' - Marubozu - Week 1 of October 2016.

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

Patterns:
Previous Fork breaks, Bears celebrate as index falls below 8804 #DayChart1. Week candle is a Marubozu #WeekChart1.
Support & Resistance:
Index takes support at the Bottom Tyne of the new Day Fork #DayChart1. Resistance was near 8804.

Moving Averages:
The critical EMA 5, bearishly below the MA 13 on all screens #DayChart1.

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

Wrap:
Index breaks below 8804 and falls fast to the previous weekly low #WeekChart1.

Looking forward into this Week:

Patterns:
Last week's candle the Opening Black Marubozu is active (Study links here, here or elsewhere) #WeekChart1.

Support & Resistance:
Bottom Tyne of the Fork on the Day chart is the first support #DayChart1. The Middle Tyne of the Week Fork is the 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 diving below zero #DayChart2.

Wrap:Bears make a change with a break from the previous 6 green months #MonthChart1.

Bulls want a comeback with a weekly close above 8636 #Weekchart1.

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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.