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Shanghai Index has been leading the way, and what about Straits Times Index?
Straits Times Index and Harmonic ABCD Sell Pattern
If you are the website follower, this chart should be very familiar to you. (You can read about the past posting for more info. ) We have predicted one of the possible trend is to complete the ABCD pattern, and it happen.
So, after completed the CD leg, the pa will make a correction, which is what you see now; the travel south.
Will you catch a falling knife? You can unless the pa completed a bullish chart pattern at a significant level. So, if you want to buy, please wait, and be patient.
June 9, 2015 Straits Times Index, and ABCD Sell Pattern
Straits Times Index and Fibonacci Retracement
Harmonic ABCD chart pattern with Fibonacci retracement will provide you some suggestion of entry and profit taking. You see the BC retrace to either 0.618, 0.50 or 0.382 level. When you see the support happen and completed a bullish chart pattern. This provide you a hit for enter a buy trade. Otherwise, stay out.
June 9, 2015 Straits Times Index, STI and Fibo
Straits Times Index, STI Trade Plan
You can trade by buy low; catch a falling knife. The index has traveled south and now near some significant level soon. You can plan to by, of course this a very risky trade. As STI is below MAs, 20 MA has crossed 100 MA and completed Dead Cross.
To minimize the risk, buy over when completed a bullish pattern. It will reduce the risk further when buy after index goes above 20 MA.
It us always advisable to trade with lower risk to protect your capital. Next to cut lost immediately when you realize the market is going against you.
Trade with eyes open. MA, moving average a powerful visual tool for buy or sell decision.
June 9, 2015 Straits Times Index, STI and Trade Plan
You can read about other Singapore Stocks and Straits Times Index Scan in this website.
Thanks for visiting the website.
Moses
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