Thursday, 27 October 2011

Case Study - JCY

1. Trendline: Higher high & high low - uptrend (Bullish)
2. Bollinger Band: Both upper & lower band facing north (Bullish)
3. Candle stick analysis: Rebounce from support - 0.535 (Bullish)
4. ADX: Uptrend with strong momentum (Bullish)
5. MACD: 3R1G with signal line above 0 (Bullish)
6. RSI: Above 70% (Bullish)
7. Stochastic: Above 80% (Bullish)
8. Volume Distribution: High buying pressure (Bullish)

Conclusion: 8 Bull 0 Bear

Position: (Long)
Entry price: 0.61
Profit Taking: 0.66, 0.71
Cut Loss: 0.565
RR: 1.11, 2.22


  1. JCY... Entry price reached... Tighten your seat belt... :P

  2. how do you set the entry price? is it from experience or from chart?

  3. The overall trading plan, entry price, profit taking, cut loss are derived from the chart. :)

  4. how to determine the entry price, and on what kind of basis. eg range of uncertainty, potential upside or downside. must it be 0.61 if follow entirely on your chart? tx

  5. What we discussed here are based on TA (Technical Analysis), so our main consideration would be based on the chart... In this case, we identify the trend to be up / go north. Then we wait her to break resistance, in this case is previous high (0.585). Then, you can add 1 / 2 pips (varying depend on individual risk appetite) above the breakout level to set as your entry price. Reason to add few pips is to ensure the breakout is really happen and the previous resistance will turned to support by then. I hope this clarify.... :)

  6. at 0.65 now... congrate to those who still follow...
    Market turmoil, can consider take some profit (sell half), and keep another half for later...