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Post by simplemind on May 19, 2015 9:43:18 GMT 7
Zuolun Bro,
what do you think of memtech? Uptrend continue? Is my Fibo drawing correct? am learning how to draw. It hit the 50% retracement and goes back up. As of 10.54am today the price is 141.
cheers
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Post by sptl123 on May 20, 2015 1:23:10 GMT 7
Zuolun Bro,
what do you think of memtech? Uptrend continue? Is my Fibo drawing correct? am learning how to draw. It hit the 50% retracement and goes back up. As of 10.54am today the price is 141.
cheers
Bro Zuolun you take a rest and allow me to do some work on your behalf.  Please correct me if I am wrong.  Simplemind, Memtech has minor pull back, it only retraced less than 50% Fibonacci level and turned up in the last 2 sessions. Overall uptrend firmly intact, Price above 20/50/100/200 SMA on both Weekly and Daily chart. (A) A Fibonacci trader take long position when the price is retraced more than 50%-61.8%. Please see the following self-explanatory chart if you want to trade with Fibonacci. (B) On 19th May 2015, Price is at 20dMA and a bullish Marubozu suggests an entry of a long position. (C) A Harami Cross on the 14th, a hammer on the 15th, a Bullish Engulfing on the 18th, all these are bullish signal. If at today (20th May), Memtech close with a white Marubozo to form a Three White Soliders Pattern, you huat liao ! The Three White Soldiers is most potent when it occurs after an extended period of declined like what Memtech has gone thru in the last 3 weeks. Bro Zuolun, I have a question: Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ? ![]()  |
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Post by zuolun on May 20, 2015 9:49:24 GMT 7
Bro Zuolun you take a rest and allow me to do some work on your behalf. Please correct me if I am wrong. Simplemind, Memtech has minor pull back, it only retraced less than 50% Fibonacci level and turned up in the last 2 sessions. Overall uptrend firmly intact, Price above 20/50/100/200 SMA on both Weekly and Daily chart. (A) A Fibonacci trader take long position when the price is retraced more than 50%-61.8%. Please see the following self-explanatory chart if you want to trade with Fibonacci. (B) On 19th May 2015, Price is at 20dMA and a bullish Marubozu suggests an entry of a long position. (C) A Harami Cross on the 14th, a hammer on the 15th, a Bullish Engulfing on the 18th, all these are bullish signal. If at today (20th May), Memtech close with a white Marubozo to form a Three White Soliders Pattern, you huat liao ! The Three White Soldiers is most potent when it occurs after an extended period of declined like what Memtech has gone thru in the last 3 weeks. Bro Zuolun, I have a question: Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ? , Thank you for doing the chart on Memtech for simplemind, it's well done, again!  You're a fast learner and have done exceptionally well on most of your assignments. Don't forget to do a follow-up on Memtech in future (3 to 6 months later) to compare the result with what you had posted on 19 May 2015.  ![]() ![]()  |
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Post by roberto on May 20, 2015 10:16:59 GMT 7
Bro Zuolun you take a rest and allow me to do some work on your behalf. Please correct me if I am wrong. Simplemind, Memtech has minor pull back, it only retraced less than 50% Fibonacci level and turned up in the last 2 sessions. Overall uptrend firmly intact, Price above 20/50/100/200 SMA on both Weekly and Daily chart. (A) A Fibonacci trader take long position when the price is retraced more than 50%-61.8%. Please see the following self-explanatory chart if you want to trade with Fibonacci. (B) On 19th May 2015, Price is at 20dMA and a bullish Marubozu suggests an entry of a long position. (C) A Harami Cross on the 14th, a hammer on the 15th, a Bullish Engulfing on the 18th, all these are bullish signal. If at today (20th May), Memtech close with a white Marubozo to form a Three White Soliders Pattern, you huat liao ! The Three White Soldiers is most potent when it occurs after an extended period of declined like what Memtech has gone thru in the last 3 weeks. Bro Zuolun, I have a question: Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ? Some comments that came to mind. I believe TA is more an art than a science, hence, even if all the conditions mentioned above were met, it does not mean the price will go up as expected. It may mean the trade is a higher probability one. One cannot expect that as long as you satisfy a checklist of TA criteria, things will go accordingly to expectations. My answer to your question "Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ?" is that it is entirely possible. One can't expect the collective market to realize prices are now at a certain Fib level and that it is time to move up and only up. I believe it was Howard Marks who said that in the markets, one needs to understand that more things can happen than will happen. It is also entirely possible that prices retrace to your mentioned Fib range and burst upwards. |
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Memtech
May 20, 2015 10:26:46 GMT 7
Post by sptl123 on May 20, 2015 10:26:46 GMT 7
sptl123, Thank you for doing the chart on Memtech for simplemind, it's well done, again! You're a fast learner and have done exceptionally well on most of your assignments. Don't forget to do a follow-up on Memtech in future (3 to 6 months later) to compare the result with what you had posted on 19 May 2015. ![]() ![]() Thank You Bro Zuolun.  |
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Post by zuolun on May 20, 2015 12:09:33 GMT 7
In most cases, retail punters in speculative penny and micro penny stocks are actually playing with a "bayi" who is extremely well-versed in TA. This particular group of players are often mistaken as the BBs who could move and control the stock prices but there is a difference between the two. The former is a salaried professional using corporate account to trade, doing a daily and routine "roll-over" job, without paying any commission Vs the latter who use real money to trade, paying a commission based on trade size. Some comments that came to mind. I believe TA is more an art than a science, hence, even if all the conditions mentioned above were met, it does not mean the price will go up as expected. It may mean the trade is a higher probability one. One cannot expect that as long as you satisfy a checklist of TA criteria, things will go accordingly to expectations. My answer to your question "Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ?" is that it is entirely possible. One can't expect the collective market to realize prices are now at a certain Fib level and that it is time to move up and only up. I believe it was Howard Marks who said that in the markets, one needs to understand that more things can happen than will happen. It is also entirely possible that prices retrace to your mentioned Fib range and burst upwards. |
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Post by sptl123 on May 20, 2015 12:35:48 GMT 7
Roberto, Historically and empirically, TA has the track records of being proven that it works rather than it doesn't. TA practitioner simply do not just look at possibility and P&L, rather, their trading plan incorporated probability and risk reward ratio. TA is not simply just an art or science alone; it is both. As you may have overlooked, there are some indicators measure/tell the behaviorism and psychology of punters in the market. After all, " a predictable market is not share market." Virtually nothing is impossible in stock market and that commonsense also tell me too that everything is possible in a stock market. Bro Zuolun you take a rest and allow me to do some work on your behalf. Please correct me if I am wrong. Simplemind, Memtech has minor pull back, it only retraced less than 50% Fibonacci level and turned up in the last 2 sessions. Overall uptrend firmly intact, Price above 20/50/100/200 SMA on both Weekly and Daily chart. (A) A Fibonacci trader take long position when the price is retraced more than 50%-61.8%. Please see the following self-explanatory chart if you want to trade with Fibonacci. (B) On 19th May 2015, Price is at 20dMA and a bullish Marubozu suggests an entry of a long position. (C) A Harami Cross on the 14th, a hammer on the 15th, a Bullish Engulfing on the 18th, all these are bullish signal. If at today (20th May), Memtech close with a white Marubozo to form a Three White Soliders Pattern, you huat liao ! The Three White Soldiers is most potent when it occurs after an extended period of declined like what Memtech has gone thru in the last 3 weeks. Bro Zuolun, I have a question: Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ? Some comments that came to mind. I believe TA is more an art than a science, hence, even if all the conditions mentioned above were met, it does not mean the price will go up as expected. It may mean the trade is a higher probability one. One cannot expect that as long as you satisfy a checklist of TA criteria, things will go accordingly to expectations. My answer to your question "Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ?" is that it is entirely possible. One can't expect the collective market to realize prices are now at a certain Fib level and that it is time to move up and only up. I believe it was Howard Marks who said that in the markets, one needs to understand that more things can happen than will happen. It is also entirely possible that prices retrace to your mentioned Fib range and burst upwards. |
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Memtech
May 20, 2015 13:01:17 GMT 7
Post by roberto on May 20, 2015 13:01:17 GMT 7
In most cases, retail punters in speculative penny and micro penny stocks are actually playing with a "bayi" who is extremely well-versed in TA. This particular group of players are often mistaken as the BBs who could move and control the stock prices but there is a difference between the two. The former is a salaried professional using corporate account to trade, doing a daily and routine "roll-over" job, without paying any commission Vs the latter who use real money to trade, paying a commission based on trade size. Some comments that came to mind. I believe TA is more an art than a science, hence, even if all the conditions mentioned above were met, it does not mean the price will go up as expected. It may mean the trade is a higher probability one. One cannot expect that as long as you satisfy a checklist of TA criteria, things will go accordingly to expectations. My answer to your question "Is it possible that Memtech will turn up from here and miss or not go thru the 50%-61.8% Fibonacci Retracement ?" is that it is entirely possible. One can't expect the collective market to realize prices are now at a certain Fib level and that it is time to move up and only up. I believe it was Howard Marks who said that in the markets, one needs to understand that more things can happen than will happen. It is also entirely possible that prices retrace to your mentioned Fib range and burst upwards. In terms of a formal position, what would a "bayi" be called? Proprietary trader? I'm sure they pay at least some transaction fee, although it may be regarded as negligible. |
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Memtech
May 20, 2015 13:26:42 GMT 7
Post by zuolun on May 20, 2015 13:26:42 GMT 7
haha...your question implies that you do not know what I've posted earlier and I don't think it's necessary for me to continue the details on the "bayi" because the more I explain, the more you get confused.  In terms of a formal position, what would a "bayi" be called? Proprietary trader? I'm sure they pay at least some transaction fee, although it may be regarded as negligible. |
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Post by pain on May 20, 2015 14:17:00 GMT 7
Roberto: Bayi Hokkien for Bah Yee According to Oxford Singlish Dictionary: BHAI/BAI (bah-yee) Racist way of addressing a Sikh gentleman. The term “bhai” in Punjabi is innocuous and means “brother”. But this has since taken on racist connotations in Singapore. It is difficult to explain exactly. But definitely not proprietary trader. 'Runner' be it professional or in house.  haha...your question implies that you do not know what I've posted earlier and I don't think it's necessary for me to continue the details on the "bayi" because the more I explain, the more you get confused. In terms of a formal position, what would a "bayi" be called? Proprietary trader? I'm sure they pay at least some transaction fee, although it may be regarded as negligible. |
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Post by zuolun on May 20, 2015 14:23:09 GMT 7
pain, Yes, "bayi" is definitely not referring to proprietary trader. 'Runner' be it professional or in house means you know what I'm talking. Roberto: Bayi Hokkien for Bah Yee According to Oxford Singlish Dictionary: BHAI/BAI (bah-yee) Racist way of addressing a Sikh gentleman. The term “bhai” in Punjabi is innocuous and means “brother”. But this has since taken on racist connotations in Singapore. It is difficult to explain exactly. But definitely not proprietary trader. 'Runner' be it professional or in house.
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Post by zuolun on May 20, 2015 15:34:41 GMT 7
Thank You Bro Zuolun. , I'm very proud of your performance in TA. Your detailed analysis on every assignments given to you showed that you really put in a lot of effort and time to prepare them.  |
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Post by sptl123 on May 20, 2015 15:43:26 GMT 7
Thank You Bro Zuolun. , I'm very proud of your performance in TA. Your detailed analysis on every assignments given to you showed that you really put in a lot of effort and time to prepare them. Thank You bro Zuolun. I have a spelling mistake; The words on the board should read: You'll always be my Hero ! |
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Post by zuolun on May 20, 2015 15:50:40 GMT 7
sptl123, 工欲善其事，必先利其器。In order to do a good job, you must sharpen your tools, first. sptl123, I'm very proud of your performance in TA. Your detailed analysis on every assignments given to you showed that you really put in a lot of effort and time to prepare them. Thank You bro Zuolun. I have a spelling mistake; The words on the board should read: You'll always be my Hero !
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Memtech
May 20, 2015 19:01:51 GMT 7
Post by roberto on May 20, 2015 19:01:51 GMT 7
Roberto: Bayi Hokkien for Bah Yee According to Oxford Singlish Dictionary: BHAI/BAI (bah-yee) Racist way of addressing a Sikh gentleman. The term “bhai” in Punjabi is innocuous and means “brother”. But this has since taken on racist connotations in Singapore. It is difficult to explain exactly. But definitely not proprietary trader. 'Runner' be it professional or in house. pain, Yes, "bayi" is definitely not referring to proprietary trader. 'Runner' be it professional or in house means you know what I'm talking. It seems I missed its true meaning, being unfamiliar with the dialect and the cultural context. Thanks for explanations. |
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Please correct me if I am wrong. 
