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I am a typical trader in stock,commodity and Forex exchange market, hence I learned many type of indicator, chart pattern, price vs volume action, trading strategy, emotion control, money management and etc,.,.with all the information and knowledge I acquired is just insufficient for me build a trading plan, but it not allow me to make some consistence income, until one day I meet a trader(I call him Brother) who are willing to coach and share with me about his N years trading experience with real time coaching... thing change and my results improved exponential...
Some of the key take away message and I learn from my brother is
1. Trading is dealing with Fear, greed and ego,
2. The worse enemy in trading is EGO, if we are wrong in analysis, cut the loss and move on to next.
3. Be humble and it is key character to be successful trader...
4. Successful trader is less Emotion.
5. etc...
Weekly Chart
1st thing 1st !!! I like to look at the weekly trend to determine the direction of the stock, right after observed potential growth stock in small time frame, Because it is very crucial to increase winning probability. |
| Chart # 1 |
The chart # 1 above is weekly trend,
1.) We can see it was just completed correction wave, I label it as (A), (B) and(C), what does it means ABC correction ended ? typically for next couple of week should form an impulse wave up. which is wave 1 uptrend to min of RM 1.80.
2.) Bullish divergent formed, it is a indication of bear strength is weakening and bull power is taking over.
3.)Morning star appeared at the Wave (C). it is a strong indication bottom already reached.
4.)Volume is picking up on last weeks and prices is accelerated which is a strong buying interest established.
Daily Chart
Let unfold the chart from weekly down to daily. each of the impulse wave typically had internal wave structure. |
| Chart # 2 |
 |
| Chart # 3 |
1.) Major trend wave 2 ended with ABC, Wave 3 up projection will be RM 2.8
2.) Med term trend is forming wave (1) up, the projection will be RM 1.8/2.05
3.) Short term trend is forming wave 3 up, the projection will be RM 1.6/1.75/2.05
3 consecutive wave degree is pointing to north and it is bullish implication, this type of trading opportunity is classified by me is aggressive type, because combine a Bottom fishing( Major and med term trend), with (short term) wave 3 breakout strategy.
In summary, 3 consecutive wave degree is pointing to up trend, it is bullish implication.
 |
| Chart # 4 |
Support Resistance
Resistance # 1 : RM 1.62Resistance # 2 : RM 1.70
Support # 1 : RM 1.50
Support # 2 : RM 1.45
Support # 3 : RM 1.31
Projection
1.) Major trend wave 2 ended with ABC, Wave 3 up projection will be RM 2.82.) Med term trend is forming wave (1) up, the projection will be RM 1.8/2.05
3.) Short term trend is forming wave 3 up, the projection will be RM 1.6/1.75/2.05
Technical Justification on bullish implication
1.) Long correction wave ABC trend ended with bullish divergence2.)Med term wave 1 and short term wave 3 is forming and point to go up
3.)Weekly chart formed morning star and MCAD cross signal is developing.
4.) Down-trend trend line is challenge/Breal by the wave 3 up. most likely prices will accelerate up.
My Trade plan
I will scale in as I am anticipated it will breakaway from down-trend line, I will collect on any weakness near support area which RM1.50 and RM1.45,MY Profit will be near all Resistance and Projection point which were RM 1.60/1.70/1.75/1.80/2.05
My Stop loss price drop below RM 1.30
Trading Challenge
Many people committed to buy stock is very easy, when come to profit taking and cut loss is one of the most difficult part in trading world, talking about profit taking is dealing with greed and stop loss is dealing with fear, cutting loss is a must in trading world because it stopping my capital continue to loss, in order to stay alive in trading world... it is a must !!! it is not an option, else I suggest you get out of the trading and you are not suitable.
I wanted to used simple example to share on the cut loss ... you bought an egg and prepare to used it for fry rice, some how you notice/suspect the eggs you pick was/may turn bad.... the question now is shall out throw/scrap the bad one and pick another .... or nevermind bet or hope the suspicious "bad" egg will be good and risk the good rice which is ready to cook ? you make the call... I am believed in order to win I got to know how to prevent I am loss in the market... if I notice I am wrong... I got to admit and cut the loss and make a next move.
As a reminder for myself
I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.
Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.
DISCLAIMER:
I am always remind myself If the trend is go again me and violated my SL limit, I will cut loss base on the risk preference.
Stop Loss is painful process because I making loss, but it is necessary to take it, it is very important because it protect my capital to ensure I am stay in the market.
DISCLAIMER:
Stock analysis and comments presented on klseelwavetrading.blogspot.com are solely for education purpose only. They do not represent the opinions of klseelwavetrading.blogspot.com on whether to buy, sell or hold shares of a particular stock.
Investors should be cautious about any and all stock recommendations and should consider the source of any advice on stock selection. Various factors, including personal or corporate ownership, may influence or factor into an expert's stock analysis or opinion.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.
All investors are advised to conduct their own independent research into individual stocks before making a purchase decision. In addition, investors are advised that past stock performance is no guarantee of future price appreciation.
2 comments:
Good TA. From the financial performance aspect, the company has been able to grow its revenues from 356.5M to 544.9M in FY2014. Most impressively, the company has been able to reduce the percentage of sales devoted to cost of goods sold from 83.63% to 82.58%. This was a driver that led to an increase of Net Income from 20.5M MYR to 43.2M in FY2014. The company involved in construction, property, utility and plantation business and we can see a positive growth in each businesses except utility. The construction business is the main driver for the growth of overall revenue in FY14. With the acquisition of 60% equity stake in IMP hydro power concession at Sumatera, Indonesia on June 2014, it should help to boost the revenue from its utility business.
Based on the last 4 years of performance records, this stock price at $1.52 is considered as undervalued. The intrinsic value is calculated at $1.96 with the discounted rate of 8% for the projected cash flow. In short, this stock has a great potential and it is a gem waiting to be discovered...
Jason Pang
Thanks for informed and comment, I am looking forward more two way interaction from all the reader !!!
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