BTM Resource Bhd: It is ready to test $0.310 and moving upswing to $0.365/$0.485.

JASON's TECHNICAL READING

Stock price found bottom at $0.235 on last few trading days and bullish divergent was exhibited by MACD histogram, Volume was kicked in and prices break above immediate resistance @ $0.250 and correction downtrend trend-line was broken, these are an indication of bear was die off and young bull was born!
I am anticipate it will test immediate resistance and likely will move beyond $0.280 in near term, The target of $0.310 and $0.370 should reach in midterm.
Immediate Support zone at $0.250/$0.235 offer great opportunity to collect! I will scale in(add position) when it break above $0.280.

Elliot Wave count Study.

Short to midterm, obviously completed wave 2 structure which wave c was ended at $0.235 and wave 3 upswing just kick in. Wave 2 structure completion ended or 61.8% ($0.240). Target for wave 3 will be at $0.365/0.435.


Refer to the Elliot wave structure below and it indicate we are just ride on the wave 3 early stage 

Long term is formed diagonal wave 1 in big picture and wave 4 is ended with descending triangle, I am anticipate wave 5 was just kicked in which is heading to target of $0.560

 

4 stages Market trading

Just enter in to stage 2 which is mark up stages, I believed many investor or trader would not like to miss the early stage of prices moving up.

Target
1.) $0.310
2.) $0.365
3.)$0.485

Resistance
1.) $0.285
2.) $0.300-0.310(zone)
3.)$0.375.
4.)$0.405-0.420(zone)

Support
1.) $0.235/0.250
2.) $0.225/0.220
3.)$0.200

Stop Loss

- Trader or investor may select own risk level to stop loss base on the  Support line I posted above. typical stop loss method is end of day close below the support level. 


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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:

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