I'm Brandon, a senior stockbroker at a local securities firm and also a professional trainer with Singapore Exchange (SGX) Academy. Holder of Chartered Market Technician (CMT) and Certified Financial Technician (CFTe) with over 10 years experience in the financial industry.
This blog aims to share how private traders can forecast price and trade in line with the market and smart money by applying Wyckoff principles and simple technical analysis techniques.
Thursday, 5 January 2017
STI Update Revisit
Following is a re-cap on our forecast for STI Index on 19 Dec 2016
A review today shows STI Index traded in similar fashion in accordance with our forecast, bouncing off the support level at Fibonacci 61.8% Golden Mean coupled with a confluence of 2 supports touching recent resistance as per chart. This is an example on the simple practical forecasting using Fibonacci Levels.
Out of the universe of technical tools, Fibonacci Levels and Elliot Wave Theory remains the essential tools for analysts and traders to conduct forecasting.