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MRC Allied (MRC)

I posted this at my Bookaka premium site while everybody was screaming sell yesterday.
It was an opportunity to buy. Closing price yesterday was .214
Current price .238 as I write this.
mrcfractal.jpg

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Bookaka.com

https://pixiutrades.wordpress.com/2017/03/20/simple-trader-at-bookaka-com/

BASIC ENERGY CORP (BSC)

CONFLUENCES of supports
Support 1: SMA 50 and 61.8% Fibo level
Support 2: SMA 100 and 78.6% Fibo level

bsc

More charts at Bookaka.com

https://pixiutrades.wordpress.com/2017/03/20/simple-trader-at-bookaka-com/

DOUBLE DRAGON PROPERTIES, INC. (DD)

DD is currently in a cup and handle pattern.
It is showing strength after registering high volumes for the past three days.

Stochastics show a crossover.
If price breaks out above 56.20, target at 79.90

dd

More charts at Bookaka.com:

https://pixiutrades.wordpress.com/2017/03/20/simple-trader-at-bookaka-com/

METRO PACIFIC INVESTMENTS INC. (MPI)

MPI continued to drop today. 

Price broke below the 61.8% Fibo level.
It may find support at the 78.6% Fibo level at 6.05
If that fails, full retracement to December 2016 levels at 5.76

Volumes are higher today compared to yesterday.
There is no sign of reversal yet. Stochastics have not yet crossed over and price is still making lower lows.

If you don’t have this, stay away. If you already have this, sell on strength. This is already oversold.

 

mpi

 

More charts at Bookaka.com.
Subscribe to my Bookaka premium service. 
Details below:

https://pixiutrades.wordpress.com/2017/03/20/simple-trader-at-bookaka-com/

Philweb (WEB)

Bullish divergence spotted. No buy signal yet.  Price is still below 21 day EMA.
Price is finding support at 8.60
Keep tabs.

webb

Previous post:

https://pixiutrades.wordpress.com/2017/03/20/simple-trader-at-bookaka-com/

Simple Trader at Bookaka.com

If you browse through my blog occasionally, you probably came across the poster for my upcoming webinar, Ichimoku Trading Strategies, on April 1 and 8, 2017. Here is the ad for the webinar:

ichimokujpg

The 6-hour  Ichimoku Trading Strategies webinar provides a  thorough understanding of the different Ichimoku elements and their relationships, as well as its creative use with other technical tools.

This webinar comes with a 3-month subscription to the Bookaka premium service of Simple Trader (that’s me).  Here are samples of my work:

pcorbmrcchpimi

As you could see, I used Ichimoku for my charts. I find this system very effective in timing a trade as well as in finding entry and exit points , whether for short term or medium term trades.

If you are unable to attend my webinar, you could consider subscribing to  my premium service at Bookaka .com, where I also guide subscribers on the use of Ichimoku.

Just create an account with Bookaka.com then click on the Simple Trader. It’s only P1,000 for 3 months of charts, tutorials, guidance, etc.  That’s only about P16/ trading day.
 


Many of my charts are already at Bookaka .
Anyway, thanks for reading my blog!

Sincerely,

Pixiu/ Simple Trader

 

 

The Three Thumbs Up volume-price setup- LMG Chemicals (LMG)

The three thumbs up price-volume setup
This is when volume and price action support each other  deliciously  like Peanut Butter and Jelly.

This delightful combination often comes in threes. 

Price up. Volume up. Beautiful.

When they turn around and contradict each other like soy milk and orange juice at breakfast, the results is a catastrophic diarrhea of sorts….

Volume up. Price down. Nasty.

Suddenly, you’re screwed.

lmg

I just made this all up. Carry on.

Ichimoku Trading Strategies Webinar
April 1 and 8, 2017
Details below:

https://pixiutrades.wordpress.com/2017/03/13/ichimoku-trading-strategies-webinar/

 

Petron Corporation (PCOR)

Confluences of Chikou span and fibo levels define supports and resistances in this PCOR chart

The Chikou span bounced off the 50% fibo support level while price bounced above the bottom kumo . This defined the near term support.
Price resistances are also defined by confluences between these two at 9.38/ 10.31 and 11.8

pcor.jpg

Ichimoku Trading Strategies Webinar

https://pixiutrades.wordpress.com/2017/03/13/ichimoku-trading-strategies-webinar/

LMG Chemicals Corporation (LMG)- a post mortem

Hindsight is 20/20.
It is also the best teacher.
Here is what we can take away from LMG’s demise today.

If you were caught with your pants  down today, so to speak, at least we could learn from this expensive lesson.

While a lot of traders got excited when LMG broke out of this pattern after consolidating for weeks, many traders saw peso bills rather than the red flags.

 

lmg.jpg

Of course, we are only human and as traders, we go with the trend and we follow the price.

Nonetheless, LMG is a treacherous stock. The wide bid-ask spread was enough to make me stay away from this. (Yeah , I learned my lesson from my HI trade. Stay away from illiquids.)

One of my friends asked me whether there was any signal at all that this was about to drop today.

That signal started way back in March 1. This is the daily chart.

lmgdaily.jpg

 

Here are the  sell signals on the daily chart.
1) first signal was the break below RSI 70 on March 1
2) second signal was the break below the ema 4 line on huge volume
3) third was the break below ema 21 line on higher volumes
4) break below the bullish fibo area of 38.2%
5) consecutive breaks of fibo levels

There were also SELL signals on the 5 minute chart

lmg.jpg

Sell signals, 5 min chart
1) It made a bearish crossover at 8.45 then there was a drop in prices. It never made a buy signal from thereon.

2) There were huge volumes on the red candles and low volumes on the green candles, validating the sell signal

3) At the same time , RSI broke below 50.  RSI 50 is the bull-bear line so that cross below 50 is also a warning to sell.

LMG’s demise today was a tragedy. I have friends caught in this drop too. Don’t let this bring you down. Wipe the tears away , find   your next prospect , and remember the lessons you learned from LMG. 

 

Ichimoku Trading Strategies Webinar

April 1 and 8, 2017

Details below:

https://pixiutrades.wordpress.com/2017/03/13/ichimoku-trading-strategies-webinar/

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