TradeVSA Digest Week 1 Nov 5, 2018
VSA 101 – Everything You Must Know About VSA
Stock Trade Idea
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Potential Breakout Stock – NextGreen Global (7241.KL)
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Chart vs News: Which is better? – Kelington (0151.KL)
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Introduction to TradeVSA
Focus on the future
The tough part about investing is that we are trying to make informed decisions based on things that have yet to happen. It’s important to keep in mind that even though we use past data as an indication of things to come, it’s what happens in the future that matters most.
Way of the Turtle
by Curtis Faith
After nearly 25 years, the turtles come out of their shells.
Way of the Turtle takes a never-before-seen look at the legendary Turtle Traders and the famous experiment that made them millions. Curtis Faith, the most successful member of this elite group, breaks the silence to reveal the rules, timing, risks, rewards, and secrets to his biggest trades and 100 percent annual returns. Sharing behind-the-scenes insights and step-by-step techniques, Faith shows how you can use the Turtle Way to achieve enormous profits-whatever your skill level.
“The most successful turtle was apparently Curtis Faith. Trading records show that Mr. Faith, who was only 19 when he started the program, made about $31.5 million in profits for Mr. Dennis.” – Stanley W. Angrist, The Wall Street Journal
KLSE Market Update
Bursa Malaysia KLCI Index
Based on daily chart above, KLCI is forming an accumulation level with support at 1670. However, the overall background is weak as indicate by the Bearish Red HeatZone. KLCI is likely to re-test at the nearest resistance level at 1742. If KLCI unable to break above 1742, stage 4 or mark-down are likely to continue.
SGX Market Update
Straits Times Index
Based on daily chart, STI currently at Stage 4 – Mark Down since June 2018. Background still weak with no indication of reversal. STI are likely to re-test the resistance at 3133 with support at 2959. We prefer to wait for 18 Line Change by breaking above the resistance level to ensure STI is forming an accumulation level.
NYSE Market Update
Dow Jones Industrial Average (DJIA)
The daily chart of DJIA shown weakness in the background with a confirmed Up-Thrust (UT) follow by Sell-Off (SO) on October 2018. The UT is spotted during distribution stage on 3 October when DJI reached the new high. Notice the distribution continue with a SO bar on 10 October. Currently DJI still in the Stage 4 and we would like to wait for the Bullish HeatZone to appear to confirm the reversal.
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