Wednesday 15 January 2020

Learning to trade : Candlesticks reading



Noon ... 2pm now. KLCI red again.

Trading Group: I have a 'new member' as a student ... wanting to learn to trade. She joined me today.

What would be the first of thing a trader should learn?

WEEKLY REVERSAL CANDLESTICKS!!

To join me: message at 012-821 0129 (small fees applied)


This is WEEKLY CANDLES of KLCI three weeks ago ... when I gave some mild 'warning' here in this blog ... KLCI down doesn't mean ALL stocks would be down, but generally, the sentiments won't be good.

So ... we would like to reduce our positions or keeping cash after bought in during end-Dec window dressing period.

So ... by checking the weekly candle in KLCI, we can guess that sentiments won't be so favourable in coming weeks to trade. We would have stay sideways and keep cash ... waiting for current selldown to 'hit the floor'

Reversal candlesticks such as the above (hanging man). So understand that could help us to navigate and plan for next coming week.


Again ... we should not ONLY use one single candlestick to determine our buying/selling? Or can we?

That is what for all newbies to learn ... CANDLESTICKS reading ... start from there.

Use 1-2 months to explore further ... and if u hv any questions on that, can join me la. Good luck learning.

TEH

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