Advice on Technical Analysis on SGX Stocks, how to trade it with japanese candlesticks..and trade with other parameters to gauge the direction of a particular stock if it is uptrend or downtrend..Of course this is only my personal view with disclaimer on my website. "To check Disclaimer, it is on the left top of the website here"

Saturday, April 17, 2010

Golden Agri Resource Technical Analysis and Charts




Well, this is the first time I am posting a technical chart analysis here at my blog reason being, many of you want me to analyse this stock Golden Agri Resources. Usually I only do the analyse myself on the charts/volume and posted the signal and data here.
So, hopefully you can gain some knowledge here on the TA Charts, the whole picture after my explanation on the technical chart itself especially on candlesticks and volume. As picture itself speaks a thousand word!

As for the Financial US Events Indicators data and commentary, I will only post it to my subscribers. And for lessons, I will try to post some here.

Ok, enough of explanation and let's move on to the technical chart now! As from the start, I have always mentioned my forte is on TA and not FA. TA has many parameters, One of them -> Candlesticks is one of my expertise to gauge the market direction. Is the beauty of the whole overall trading market scenario where you can see the next uptrend/downtrend.

Let's get started. Notice the past 2 days, black and opening marubozu has dominated the trading but with volume increased on the 2 days. Does it means high volume can be a sign that it will trend upward further? No. It is not.It can be reversal but in this case we have to see how the bulk-volume dominates the trading session. And we also got to see the past days how the movement and the candlesticks shown with the trading curve line and other parameters. ( I will explain more next time on Trading Curve Line, another topic on this)

Once all the parameters are checked, we got to see the next trading day's candlesticks to provide us the signals if it is a buying trend.
Ok,But Before moving futher, I would like to explain the process how I categorised Signals to use with candlesticks to trade on a stock.

Signals can be categorised into:
1)BUY
2)Buy-When
3)Hold-on
4)Waiting
5)Sell-When
6)SELL

These 6 signals are used to confirm the waves for the trading pattern on any stocks which I need another time to explain. Meanwhile, For Golden Agri's signal is Buy-When(when the signals showing early sign). "Buy-When" will be turned to BUY(confirm can buy) if the next day's candlesticks and volume showing buying signals.

This is how the cycle of the trades can be executed properly if you follow through. So, As for Golden Agri, let's see on the next day's confirmation to further confirm the BUY signal.

Thanks,
Star-Trader
P/S: Can email to me -> Sgxstartrader@gmail.com if you have anything and don't leave your questions in comment area here as I won't be able to check frequently.

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