XAUUSD Weekly & Daily Charts

 

Based on the gold weekly chart above, in my opinion, gold is still normalizing after the severe sell down. It is now still trading below the 50SMA. Unless there is a breakout on the upside with high volume & cross above the red line, we cannot say that gold has reached its bottom now.

 

China Minzhong Food Corp Daily & Weekly Charts

XAUUSD Weekly & Daily Charts

Capitaland Daily & Weekly Charts

 

 

 

 

Big Dipper Setup

Price made a recent high 3.33 on 2 Aug. Then a 3-bar correction happened with 2 lower lows of 3.22 and 3.17

Long trade can be entered if price break above 3.29 (2-bar count back high)

Note that the bar on 7 Aug is not counted as it did not go lower than the previous bar.

Stop loss can be placed at 3.16 (1 tick below recent swing low)

Profit target will be around 3.33 to 3.37 (resistance based on Weekly chart)



EURUSD H1 Chart

 

Entry based on Divergence & Candle Pattern
Bearish divergence based on Stochastics & RSI indicators.
Note that the candle pattern at 4pm closed as a Shooting Star.
The Shooting Star is a bearish reversal pattern that forms after an uptrend, it can mark a potential trend reversal or resistance level.

To confirm the reversal, the next candle have to close a RED candle.
Then we can look at SHORTING with a Take Profit of 30-40pips.

Just after I posted my setup on my blog, my teacher Mr Yeo Keong Hee posted the above on the students' forum. I am happy to see that my setup is correct.

STI Flash Crash & Stop Loss Level

 

 

Flash Crash at 12noon on 30 July
I am still holding on to my Long position since 23 July but I have moved my Stop Loss level to 368.
singapore-index-daily-weekly-charts
A sudden spike down happened at 12noon & my Stop Loss was take out.

I asked my teacher, Mr CK Ee for his view on it & below is his reply:

Hi Debbie

The quotes in City Index platform reflects the underlying.
It was noted that all the 3 banks have similar patterns.
Severe sell-down followed by quick recovery. You can
check the chart of the 3 banks.

It is not known at this stage the reason(s) for the sell-off.

The 3 banks mentioned are DBS, UOB & OCBC.
On hindsight, if I stick to my trading plan & not move my Stop Loss level, my trade is still on but it is a good learning experience.

Capitaland Daily Chart

Small Dipper Setup
Price made a recent high 3.28 on 26 July. On 29 July, an inside bar is formed.
Look out for a price break up of 3.28 to enter LONG.

Note that we are looking at an upward trend continuation, refer to my post on 24 July.
capitaland-daily-weekly-charts