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Anyone can look at a chart and make a trading plan, look left and think right. When you look at the chart, as trader you should always ask, “what has took place today?” The information provides can be significant enough to reduce risk and increase rewards of your plan and strategy. Pay attention to open, close, high and low of the price on any timeframe. Each tell a story.
Straits Times Index Daily Chart
November 12, 2015 daily chart shows the price action has test and retest the support that was the 2014 low a few times. In fact, ^STI took five (5) months to hit the peak, but took two months to go lower than the 2014 low.
Can the price action test the high low of 2014 as chart, the point that touch the ED? Will the level resist the price action? Will see.
November 12, 2015 Straits Times Index
Straits Times Index Weekly Chart
The week may end bearish, closed lower than last week open. So, what does this mean to you?
November 12, 2015 Straits Times Index Weekly Chart
Straits Times Index Monthly Chart
October month closed above 2014 low. October month also closed above previous month.
Is Straits Times Index is now in the reversal mode? will see. If this month can end higher, but be aware the previous higher low.
November 12, 2015 Straits Times Index Monthly Chart
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Moses Stocks Scan
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