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The Week Before Christmas – Parties & Rallies

Looking back at last week, we saw a strong run-up in the EUR/USD. Initially, I was bearish, but I realised the path of least resistance was upwards, so I cut-and-reversed to go long, applying the reverse psychology setup. Next week, we will see if it can clear the resistance zone.

Gold has broke the major trendline, and based on behavioral analysis, the path of least resistance is currently to the downside. I have been short since Thursday as mentioned in the forum, and I have taken 1/2 profits and trailed the rest. Let’s see if it can go lower.
 

For those trading SGX stocks, here are some trade ideas for you to apply the 7 setups.  Remember to apply the visual scans before taking action, and focus on getting an optimal entry point. Watch for the tipping point.

Singapore Stocks | Olam – The Scary 3 Black Crows

Starting to look toppish from a longer-term perspective.

This is what I call a strong trend. You do not have to be a genius to make money from this trade. Hence, for beginners, we encourage to focus on the trend-surfing play, and put aside the other 6 setups until they have mastered this.

 

Same chart as the one i posted a few days ago calling for a sell, except that this is the updated version. 3 black crows in that context is very bearish. I will continue to post new stock picks in advance in the Synapse forum. Stay tuned!