Missed out the bullish divergence(5-min) on PWR with COL lagging and prelims week :((
Come on EURO, breakdown some moar!
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Thursday, July 28, 2011
Wednesday, July 27, 2011
Monday, July 25, 2011
Sunday, July 24, 2011
Tuesday, July 19, 2011
Bailed out on PWR today. My trailing stop at 5.10 was triggered so I had to sell and take profits. The only problem earlier today was COL going bananas. The ticker is showing 4.80+ while the quotation reading is still above 5 so I really had a very bad fill for my trailing stop which is pissing me off. I had a plan and I was trading the plan and yet, the broker won't let me trade my plan. LOL.
Anyway, average entry is below par so it is still a pretty good profit (ROI: 23%). My only regret in this trade is that I sold half of my position at 1.37! I should have increased my position since it was climbing up. Oh well, hindsight.
Didn't have any position on the blues since 40% of my funds were in LCB, 16% in GERI and the remaining fund was freed up for the second/third liner plays(shoot anything that moves) so when LC/B started to attract attention, I just increased my position in LCB (by 57%) today. Let's see if I did the right move.
All of the proceeds that gained from the basura plays are plowed into PCOR and SMC which both gave signals to buy. All the barya that's left were used to buy a very small position in LC(masabi lang may LC).
Bought the 3k VITA shares earlier today at 1.10 since I was expecting it to spike up. 5 minutes later it was trading at around 1 peso already so I sold it immediately. Sayang 300 pesos. Profit from the ELI trade was around 200 pesos I think so I've only lost coffee money.
Earlier this year, same time when the market was slowly trending down and trying to kill everyone long on index issues, I tried my hands on trading third line issues which resulted in either a loss or a missed opportunity. I was told that charting/technical analysis doesn't work on those so I promised myself that I will find a way to trade the said type of issues.
I think I did and I think I will be keeping it for myself in the mean time.
Anyway, average entry is below par so it is still a pretty good profit (ROI: 23%). My only regret in this trade is that I sold half of my position at 1.37! I should have increased my position since it was climbing up. Oh well, hindsight.
Didn't have any position on the blues since 40% of my funds were in LCB, 16% in GERI and the remaining fund was freed up for the second/third liner plays(shoot anything that moves) so when LC/B started to attract attention, I just increased my position in LCB (by 57%) today. Let's see if I did the right move.
All of the proceeds that gained from the basura plays are plowed into PCOR and SMC which both gave signals to buy. All the barya that's left were used to buy a very small position in LC(masabi lang may LC).
Bought the 3k VITA shares earlier today at 1.10 since I was expecting it to spike up. 5 minutes later it was trading at around 1 peso already so I sold it immediately. Sayang 300 pesos. Profit from the ELI trade was around 200 pesos I think so I've only lost coffee money.
Earlier this year, same time when the market was slowly trending down and trying to kill everyone long on index issues, I tried my hands on trading third line issues which resulted in either a loss or a missed opportunity. I was told that charting/technical analysis doesn't work on those so I promised myself that I will find a way to trade the said type of issues.
I think I did and I think I will be keeping it for myself in the mean time.
Thursday, July 14, 2011
Wednesday, July 13, 2011
Tuesday, July 12, 2011
PWR: Enter Parabola
Entered the 70 RSI levels on the daily chart today, closing slightly higher than its second weekly resistance(1.26):
However, prices have dropped below the 70 RSI levels on the 5-minute chart:
However, prices have dropped below the 70 RSI levels on the 5-minute chart:
Weakness on the 5-minute chart chance to average up since the bigger time frames are bullish? RSI confirmation once it bounces off the 50 RSI levels.
Meanwhile, it has entered the 70 RSI levels on the weekly chart today, closing slightly higher than its second weekly resistance(1.26):
While staying afloat in the 70+ monthly RSI levels the entire time:
MR3: 1.58
Meanwhile, it has entered the 70 RSI levels on the weekly chart today, closing slightly higher than its second weekly resistance(1.26):
Flag pattern target(breakout point: 0.88): 1.55
While staying afloat in the 70+ monthly RSI levels the entire time:
MR3: 1.58
Monday, July 11, 2011
Saturday, July 9, 2011
PSEi
The index pulled right back after reaching its secondary monthly resistance(2) after breaching the monthly pivot point(1) which was also confirmed by the RSI bouncing-off(3) the 50 level.
For the upcoming week, the index needs to close higher than 4400 to continue the upswing with 4500(4514) as a potential target/resistance. Anything higher than that could mean a steep climb, with RSI confirming hopefully, and 4500 could turn into the new support.
However, failure to break past 4400 could ruin the bullish sentiment and the index would probably land at 4300(4290) this week.
Index level is also bearishly divergent to previous high(lower RSI from previous high).
Trend strength appears to be relatively weak as suggested by the DMI reading(not picking up).
For the upcoming week, the index needs to close higher than 4400 to continue the upswing with 4500(4514) as a potential target/resistance. Anything higher than that could mean a steep climb, with RSI confirming hopefully, and 4500 could turn into the new support.
However, failure to break past 4400 could ruin the bullish sentiment and the index would probably land at 4300(4290) this week.
Index level is also bearishly divergent to previous high(lower RSI from previous high).
Trend strength appears to be relatively weak as suggested by the DMI reading(not picking up).
Gold ($GOLD - Continuous Contract) + FX: Trial by fire
I am baffled with my stupidity in my trades this week(in GOLD and in EURUSD), but so far, none of previous mistakes can top my stupidity in GOLD this week!
Here's the reason why:
Okay, so far, my mistakes came from putting on too tight stops(trailing/loss) so I am going to trade with no stops this week. Let's see how terrible the outcome will be.
Anyway, moving on, enough with the sour-graping, Gold pretty much looks like sideways with a slight downward bias, looking to pullback to the 200 MA which should provide a relatively safe entry with excellent upside potential plus the fact that it could break into a new high:
Trade with bigger volume on the long side on the 200SMA pullback setup:
Here's the reason why:
Okay, so far, my mistakes came from putting on too tight stops(trailing/loss) so I am going to trade with no stops this week. Let's see how terrible the outcome will be.
Anyway, moving on, enough with the sour-graping, Gold pretty much looks like sideways with a slight downward bias, looking to pullback to the 200 MA which should provide a relatively safe entry with excellent upside potential plus the fact that it could break into a new high:
Trade with bigger volume on the long side on the 200SMA pullback setup:
Wednesday, July 6, 2011
FX: Trial by fire
I am annoyed as hell today as my technically sound logic of shorting EURUSD today went "unprofitable".
This picture best describes what happened:
Missed 120 pips of profit on 20k units or $246. That trade could have made the week. Imagine if that was real money.
/ragequit
This picture best describes what happened:
Missed 120 pips of profit on 20k units or $246. That trade could have made the week. Imagine if that was real money.
/ragequit
Tuesday, July 5, 2011
PSEi: Heading towards new highs?
Obvious bearish divergence. If divergence is still present after 3 pushes to its high, take profits.
I am expecting a short term correction after breaking out of:
1) previous resistance - 4413
2)inverted head and shoulder pattern - target: 5095 (695 points); however, the pattern is too big to be deemed accurate so the index would either fall short or overshoot the target;
bulls are hoping to overshoot the target so everybody would be happy.
Breakout seems legit as the accompanying volume is exceptionally high(7+Bil TO) today
As for the short term correction, I am hoping for a shallow one so there would be more steam for the next leg.
Index weekly:
