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“Great trend traders don’t predict a trend, they’re fast followers.” Raghee Horner said on her facebook. This is very true, but what if you can have leading information and know the trend. You can take your time to trade. Right?
Technical Analysis is basically look left and plan right.
The chart provides you all the information you need to know about the market. See the weekly chart, the hammer with long tail basically give you the bullish information for the trend.
Straits Times Index Weekly Chart – November 13, 2015
The market is either bull or bear are in control. In a hammer with long tail; the day starts with strong bull and continue to drive the market south. But the bear fight back, the bear are so strong that and leave a long tail. The day close with a body smaller than the tail. This hammer has hinted the bullish bias. So what next. The fact is the week ended lower than 2014 low.
November 13, 2015 Straits Times Index Weekly
Straits Times Index Daily Chart
Bull trap, bear trap, no right, no wrong, but you must has your reason for trade. Respect all the information on the chart. Respect the slow MA, such as 100 MA. The price action get resisted by 100 MA.
November 13, 2015 Straits Times Index Daily
Thanks for visiting the website. Do you think this is quality analysis? I am happy with my analysis and have reasons behind each analysis. This is my opinion. But this could be completely wrong, the market is live and not predictable. The analysis provides a higher probability to trade.
You can read about other stock scan and analysis here. Hope these analysis can value add your trading strategy.
Moses Stocks Scan
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