Sunday, November 27, 2005

Strategy to "time entry" for FUYU


Again, A friend had asked me to time FUYU for him. Meanings of his asking is “Is it the time now to buy and if not when? and  if possible a complete trading plan”.
I like to use Continuous Triangle and Fibonacci Retractment as Guide.
The key here to wait, not to dive in immediately after a dangerous Breakout for fear of a so called “Shake Up before Breakdown – A Fake Breakout! Wait for 3 further ticks lapse to ascertain its stability.  Checking Volume/Price sync is equally important. Assuming it pull back with good Volume/Price sync; and assume the entry  price then is $0.495, the plan is as above.
NB: This strategy is for Fair Heart & in mediocre market only. If market is good just dive IN!

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