I took the oppurtunity to sell Huatlai-wa. My intepretation of the chart does not indicate that it will go higher that 0.285. In fact 0.255 is the maximum retracement level before continuing down to under 0.20. I may be wrong. I realised that the mother share volume is too low for me to make any conclusion as it can be easily manipulated.
The movement of Huatlai is almost random. This chicken just jump here and there. I'm tired of this type of movement. Cannot analyse it properly, so better stay out :p (until better volume)
In contrast of Huatlai, LHH zoom up again. This chicken can really run fast. If you have tried to catch an actual chicken, you'll know that chicken can run really fast. The best time to catch 'em is in the evening when they are going to bed. It's my fault for not monitoring closely this counter when it was still not running. Anyway, it gap up and overbought now. If there is a correction to close the gap, then I will try to catch it. Otherwise, just forget about it. The risk is too high as I cannot set a proper stop level.
Concerning Flonic, looks like there is strong support for this counter and with good chance it can reach 1.00 (the actual target is 1.03 based on Elliot Wave + Fibonacci)
Talking about Elliot and Fibonacci, I just (actually yesterday) noticed that if the waves are formed properly, then with high percentage it follows the Fibonacci computed target (=- a few cents). Amazing isn't it? I guess the big boys are using it.
Oh yes, I finally understand Elliot wave theory. Still not good in drawing extended wave, but only the basic waves. I guess that it will increase my chances in share trading.
No comments:
Post a Comment