Firstly, i apologize to u that today I make mistake for timing the entry of DRBHCOM. There is no excuse for mistake have been done. But I try to explain to u, for the future of your trading and me to become a better traders. So, let we start with today chart....
DRBHCOM
Chart Orientation
I see today long white hammer, price drop to 2.50 then rebound to 2.75, closing the gap (ungu line) below. This is the trigger candlestick that i looking for to timing the entry. As u know, candlestick only can provide u for the short term bullish or short term bearish. When i see from 5min chart, price hold at 2.70, my thinking is maybe this is the good point, good time to enter. Then I do what i suppose to do, without regret and without fear. Today, KLCI turn bloody red and this is what u see for KLCI during closing....
Counters up : 217
Counters down : 689
Counters unchange : 264
Where I Make Mistake?
My Mistake
Since i used live chart, I forgot to look into position of stochastic yesterday. And to make thing worst, I also forgot that price now below 20ma support. Suddenly price drop to 2.65 rebound back to 2.70 then drop again to 2.63. I realise that market now against me and i just put the cut loss at 2.65. Remember, when your sub-concious mind tell u to cut loss, by all mean pls do it. Don't wait until limit down, u will be the long term trader for long-long time.
Rules
When u have so many rules to follow, this is the most important
Cut loss when market against U
Comparison
SUPERMX
I'm not worry for Supermx. By TA, price had touch lower Bollinger Band and another one is doji candlestick at bottom. Another plus for bullish are all indicators showing price will going up and the best thing u can get is stochastic now at 5%. Look below,...
JCY
I watch JCY today. Price rebound from 1.19 to 1.27 (+8 sen) before closing at 1.24. When 689 counters down, there are few counters still stand. There must be something that people still interested, maybe from earning quaters increased or earning estimated also increase or maybe have a good report on profits. Either way, JCY still closed today with +5 sen. So lets see the chart....
Chart Orientation
Eventhough price still not touch the bollinger band, there is a strong support at 1.19. I draw 2 points for enter at 1.25 and 1.31. The reason is if u enter at 1.25, cut loss point is nearer. If u enter at 1.31, u just clear from 20ma resistance but the cut loss point is far and away. The projected target as per chart.
Indicators
3) stochastic at 12%
4) MACD histogram green and MACD above 0 line.
My View
JCY may continue moving upward. Candlestick and indicators support bullish momentum.
With that,...
Happy Trading!!!
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