Just great Ig markets not available
SAFEX has been down since 08h43; DWT Securities sent me an SMS message.
Posted 14 April 2014 - 09:15 AM
Just great Ig markets not available
SAFEX has been down since 08h43; DWT Securities sent me an SMS message.
Happy trading!
Posted 14 April 2014 - 09:06 AM
Just great Ig markets not available
IG CASH
Posted 14 April 2014 - 12:40 AM
Since I did not know what a Renko chart was, here is some info should somebody else also be in the dark.
Renko charts are price charts with rising and falling diagonal lines of boxes that are either filled or hollow. Renko charts are "time independent" charts that do not have constantly spaced time axes.
Hollow bricks are bullish, black bricks are bearish - that's the simplest interpretation of Renko charts. Renko charts may be most useful in identifying trends and trend direction. Because they screen out moves that are less than the brick size, trends are much easier to spot and follow. In order to avoid whiplash periods, some people wait until 2 or 3 bricks appear in a new direction before taking a position.
Yikes! Looks a bit too complex for me P, but thanks!
If you are on IG, have a look at the weekly candle.Its an almost perfect shooting star! Then, also have a look at the finishing and top points of ALSI40 each week for the last few weeks or so....there seems to be a major resistance level around 43100. I am a small, short player but that's why I can ride the 1000 point round trip over the last 2 weeks. So far,. 2 of 3 of my shorts are now in the money.
I will be going short of ALSI40 again at 43900, 44100 and 44500... then I just wait.
Little bit here, little bit there.
Also cashed in 75% of my long term positions. I think Zoomz is right.
IG SA40
Posted 12 April 2014 - 08:22 PM
very nice AJS they make good sense- except I cannot find it on Sotckcharts.com
change the option from candlestick to renko...
Posted 11 April 2014 - 10:53 PM
Daily chart
reno.PNG 48.98KB 80 downloads
This is a daily chart showing all upside divergences.
Note if i have to go back to 2011 correction then that chart shows divergence on the downside.
If this correction is minor as i predict it to be then we not going to see any divergences.
we could rely on the cross of the histogram.
Finally
Now keep this a secret.
Those small boxes got lots of money inside.
It all belong to helocopter Ben.
Posted 11 April 2014 - 10:41 PM
The first goal is to ensure survival – avoid the risks that can empty your account and put you out of the trading business.
Posted 11 April 2014 - 10:27 PM
My attempt at a quick Renko chart...
very nice AJS they make good sense- except I cannot find it on Sotckcharts.com
Posted 11 April 2014 - 10:23 PM
An update on renko 30min chart.
reno.PNG 30.42KB 71 downloads
Ye it did exactly as i predicted it would do.
This suggest the selling pressure is waning.
My opinion a little more down before changing course.
Note the force of the directional change will suggest weather we make new highs or remain in a correction.
That is why i said 1874 needs to be retaken by the bulls for new highs.
Note the daily chart does not show any sign of a reversal.Will post daily chart later.
AJS
Its free on stockcharts for daily charts only.You need to shine up for intra-day charting.
Posted 11 April 2014 - 09:59 PM
My attempt at a quick Renko chart...
Posted 11 April 2014 - 09:52 PM
Live 30 min Renko chart.
Study this chart.
I look for divergences.When ever you get divergences you get signals.
If market falls from here and we get divergences then there is a possibility of a low in the index.
Now read my lips i said possibility.I will only trade this possibility if price confirms it by taking out the 1872 level.
Happy weekend.
Thanks Farouk, I find these Renko charts interesting. Do you get them on the Stockcharts charting software or somewhere else as well?
Thanks!
Posted 11 April 2014 - 08:55 PM
if Tencent continues down trying to fill second gap down then it should help push T40F's down our Monday
Posted 11 April 2014 - 06:18 PM
Then please explain the drop in CML, as I thought that's where most of these overseas investors' money goes??
The drop is due to the following:
The previous Trading statement stated that a "considerably" higher than 20% was expected. Turned out to be over 100%.
This time it stated a muted "more" than 20%. This spooked traders to get to take profits.
The price veered too high above the 90sma and is correcting back down to it as always. This is a healthy correction for sustainability over the longer term, not so?
See my post in the CML thread.
She can drop to the lower BB at around 92 but I doubt it will as the next Trading report will be out in 3 weeks as they get closer to the real figures.
I started here with nothing and still have most of it left.
Posted 11 April 2014 - 05:33 PM
Live 30 min Renko chart.
reno.PNG 29.96KB 80 downloads
Study this chart.
I look for divergences.When ever you get divergences you get signals.
If market falls from here and we get divergences then there is a possibility of a low in the index.
Now read my lips i said possibility.I will only trade this possibility if price confirms it by taking out the 1872 level.
Happy weekend.
Posted 11 April 2014 - 04:41 PM
IG CASH
Posted 11 April 2014 - 04:40 PM
IG CASH
Posted 11 April 2014 - 04:17 PM
A six year old can see were the next charts are going next.
Ask a 6 year old to ignore the lines and look again to find establsihed breakouts. (Charts can also be cooked)
I find with 6 year olds it is better to ask them to remember you in their prayers.
Africa will never be regarded as adult until all of its organisations stop admiring and protecting criminal dictators.
MSM et al presents (sponsored) opinion as fact and seeks to indoctrinate. Journalists without ethics proliferate in a swamp of filthy lucre (BBC inclusive).
In response to decades of racism by fearful minority whites called apartheid there will be an eternity of racism by revengeful majority blacks called all kinds of excuses.
Corruption is not yet compulsory but it may as well be - Aggressive africanization uses the racist Employment Equity Act as a club.
Too many humans are too busy copulating to bother about the irresponsible, unsustainable and progressively catastrophic population explosion.
Whilst humanity prevails so will evil. Evil will survive and thrive through sophisticated indoctrination and other conscience-suppressing disguises.
Desmond Tutu has been praying for the downfall of the ANC since 2011. Clearly he needs some assistance with such a difficult and worthy task..
Cockroaches still lurk on sharechat because it is prime real estate for their con artistry, duping and grand theft.
Posted 11 April 2014 - 04:17 PM
Hi farouk,
Thanks for the chart, what kind of chart is it? Like a point and figure or something?
Its called a Renko.
Posted 11 April 2014 - 04:17 PM
Hi farouk,
Thanks for the chart, what kind of chart is it? Like a point and figure or something?
ah renko maybe?
must look into that, nice and clean...
"Attitude produces better overall results than analysis or technique, of course the ideal situation is to have both, but you really don't need both, because if you have the right attitude the right mindset then everything else about trading will be relatively easy even simple and certainly a lot more fun." - Mark Douglas, Trading in the Zone.
Don't listen to me, I'm a market Rookie.
Posted 11 April 2014 - 04:02 PM
A six year old can see were the next charts are going next.
No profession requires more hard work, intelligence, patience, and mental discipline than..speculation.
Posted 11 April 2014 - 03:58 PM
But still, if what you're saying is true and money's coming back into SA, where does it go to? - The big, good funds, like CML's?
It goes to value, CML is not value with such a high PE. Contrarian Investors are not stupid.
They will buy something that has potential to grow. Not something that is crowded.
Look for stocks with value. Don's buy what MOM ad POP are buying.
The US MOM and POP stocks have also started breaking down, some are 20% down for the year.
Netfix
Tesla
Amazon
Just because you saw a huge line at woolies counter, does not mean you should buy WHL
Just because CNBC is screaming CML everyday does not mean it's a buy.
Look for stocks which the so called experts are not buying. Every expert last year did not want to buy gold and platinum stocks.
These are people who call themselves educated. The market respects nobody.
How many people had PHD's in Lehman Brothers when it went under.
Don't chase the herd
No profession requires more hard work, intelligence, patience, and mental discipline than..speculation.