New job needed

Need to look for new job to earn back my saving. But its had to find one, as I have not got 1 year of experience. How???

I need a $3k job at least, if not how to cover back? Next year is getting married, money is needed, but I can't find it if I stay on here. Trading had not been successful, so unable to make back my lost and salary.

I am in a big mess here, how to get out of it???????????????????????

End of dream, time to wake up!

Just make a huge loss this month, after making much progress last month. Get caught by the market due to Europe and US crisis. Should have know better, but the emotion got hold of me. Try to revenge. Not really revenge, but to recoup loss.

I got the skill to look at market. That's all, I got no luck in trading, my trading habit is damn bad. Meaning I am not fit to be trading.

Year end coming, just drag through this year. Also have to see I shall go from here. I try my best to change job, really study hard to get into this industry. But my habit killed me.

I feel apologetic to my families, especially my wife which trying her best to support me financially, which is too much for her.

Well, time to goes back to earth and see how I can earn back the money and repay them.

Is it so hard?

I am just trying to survive, why must make it so hard for me?

Everything I do, my intention is to give more to my love ones. Although I never succeed, but I am really trying my best.

Nobody understand, only me who knows it. Can't voice out also.

Everytime is u u u u u u u u... What about me me me me me me???

Tunnel

I use to be walking in a tunnel, I can't see the light at the end of the tunnel, although I had been walking for decades. But I know I am still safe as long as I continue walking, leisurely.
I got sick of it walking for so long, unable to walk out of the tunnel.

One day I decided to try another way to walk through the tunnel. At first it does look promising. But as times goes by, I find myself crawling instead of walking compare to before. Not only did I not see the light, it become even dimmer.

Seriously I do not want to give up. But at the rate this going, I might be gone before I can see some light.

How?! Seriously don't know...

First "warning"

My boss just whisper to me she will help me get some account. Quarter report is out and my revenue again cannot meet the target. The higher up there is questioning her and she need to do something.

I kind of expected it, nevertheless, I am still very disturb by it. Have to buck up now, be it getting client or trading, the lesser the mistake the better. No much time left on my side, not much bullet left.

October only left 14 more days, hopefully market can be kind to me for the rest of the days left in October.

Rebound back towards the end of 1 hour

Got playout, market rebounded instead of going down. No setup base on daily candle, so never enter. But seeing all the stocks go up and not participating sure is torturing... Many up $0.05-$0.10, which can be substantial profit.

Short Wilmar yesterday but today rebounded back also. Haven't broke yesterday high, but should break if US close very positive tonight.

Let's see tomorrow if I have to bite the bullet and take the lost for shorting Wilmar... Sianz...

What it takes

What are some clues that you could be one of the fortunate few that actually could succeed at being a full-time trader? 

Here are a few questions to ask yourself if you think you might be ready to trade futures full-time:

1. Are you a successful part-time trader? You'll need to be successful at trading futures on a part time basis before you think about moving into the full-time trader ranks. Don't be fooled into thinking that trading futures on a full-time basis will allow you to spend more time to cure your part-time trading ailments. In other words, don't say to yourself, "If only I could spend more time trading markets, I could have more success than I've had just trading one lots here and there."

2. Do you have enough money available to live on when – yes, when, not if – you hit a streak of losing trades? A losing streak will inevitably occur, probably sooner rather than later, and it may be a stretch of poor performance of up to six months, or longer.

3. Do you have the psychological stamina to be a full-time futures trader? Quite frankly, most people do not. Can your psyche, not to mention your pocket book, handle six months of mostly losing trades? Ego and emotions can be very demanding forces.

4. Will your immediate family members support you, even during a prolonged rough stretch of trading? For example, if your spouse does not support your decision to trade full-time, then you are likely doomed to failure. The pressure of having to produce winning trades and knowing that your spouse is skeptical of your efforts is almost insurmountable.

5. Will you be able to uphold your family or other important responsibilities even during a rough trading stretch? Or will you brood and kick the dog when it happens to cross your path? Financial strain is not conducive to good relationships and a happy life.

Singapore up 4 days in a row!!

Although last week NFP is good, but US market turn negative towards the end 1 hour before closing.

Market here open up, move up, move down, move up, move down, move up decisively up after Europe open positive.

I already clear all position as market is uncertain. Overall is profit, but miss the 1k plus as after sold, market still moves up. Again could not hold on the position to get greater gain.

Now have to patiencely wait for next chance to enter, but not sure if can catch the right signal to enter.

Will update again as the days goes by.

Market stop falling as ECB step in

European Central Bank step in to provide banks with longer-term liquidity to ward off a new credit crunch.

ECB would start buying covered bonds, reopening €60 billion programme it ran between 2009 and last year by spending €40 billion over a 12-month period beginning next month.

The above decision should see some rebound before the down trend resume again. But as the market had fallen too sharply, we might again see side way movement after the rebound before down trend continue.

Temporary bottoming

Market had drop for about 5 days in a row. US is the first to rebound on Tuesday. It follow through on Wednesday and likely to continue on Thursday.
Singapore market was cautious on Wednesday, but follow through by US install confidence back to traders as they pick up cheap stock for rebound on Thursday. I help my client pick up Noble yesterday. Genting, STXOSV, Indofood today. All 3 is not as strong going up, will be stronger if US can close positive tonight. Noble is still very strong, with Fibonacci, target that it will turn down if it hit $1.50, so need to get ready to take profit when close to $1.50.

Market down 5 days in a row

Global market had been down for 5 days in a row! And I miss all the shorting action due to the stupid reservist! What the hack!!! Supposedly doesn't have to go for this reservist!! Da ma de!!!

My AUD is being threaten again! 3 more days to go only, shit!!

Option selling

First loss of the option selling journey. When AUD is at $1.06, sold it at $0.95, premium was $200.

CME AUSTRALIAN DOLLAR PUT 95.000 0.20 07OCT11

Cut loss when premium was at $430
CME AUSTRALIAN DOLLAR PUT 95.00 0.4307OCT11

Make a loss of $230. Premium was as high as $1500, more than tripled the original premium of $200. Didn't follow the rules to cut loss as I was hoping. The prices manage to rebound and the premium drop back down. But the rebound was short leave and begin to retrace again. So cut loss before the premium goes back up again as the price is getting too close. Still got 2 position at $0.93 and $0.925. With 7 more days to expired, the premium should not go up too much.

Will update again when the option expires.


**********************
2 days to expire, 3 contract at $0.93, $0.925, $0.915 should expire worthless as AUD rebounded from $0.94.

Wanted to add one more contract at $0.91 for premium of $70-$80, but was too late as AUD rebounded quite strongly. Will look for opportunity if it can retrace a bit.

Bear won!

US down 2nd day in a row, -300 plus. Together with Europe down 3%. Asia open low but refuse to go down further. Hk close off low, Singapore also after Europe open. Stocks like Cosco, NOL, Genting close positive.

After Singapore close, Europe turn positive to negative again as the bear take over. US futures also turn negative pointing to negative opening of US session. I bought Genting, now have to see if monday will gap down.

As for AUD, it continue to move lower with no rebound in sight. It certainly look very worrying. Premium have more than triple with 2 weeks more to go. I am dead on the trade!

The long awaited QE3 announcement

Market had been waiting the the US Fed to announce plan on QE3, but in the end, no QE3 is mention, but "operation twist" was announce. It is by selling short term bond and buying long term bond. This does not bores well by the investor.

US market sell off in the last hour of trading market and close -258. Asia market slide, HSI make new low and close down 900+. The sell off carries over to Europe market with Dax, FTSE, CAC all down 4-5%

Option selling in AUD also take a hit as it fell more than 500 pips in 2 days. Now have to cut loss of AUD falls down further...

Blogging using iPhone apps!

Well well, this is the first post using iPhone, going to be easier next time to blog about my thoughts...

Something is wrong, something is not right, but I do not know how to fix it

I am not doing well in trading, lose tons of money, still unable to make back after 5 months of full time monitoring.
I am not doing well in broking, got 30 plus clients, but less than handful trading actively.
I am not doing well in generating commission, owe company few months of pay, yet to be able to repay back.
Only thing doing well is selling option, but so far is only starting with few trades, cannot conclude if it is the passive income I am able to make consistently.

So what now, what to now, how to continue from here? I got the utmost support from my wife, but she got her own career to build on, she is unable to support me all the time.

Well, I am not sure what to do, not sure how to go on from here. Got old bird told me he use 5 yrs to build up the client base, but do I have the luxury of 5 years? If not, what else can I do? I try all my means liao.


I will take this weekend to think over, see if any idea can come out. But sure thing, friday night will be exciting. Everybody is waiting.

Selling Option

Had started selling option. Had made the first trade successful but violating the rules as I sell option less than 30 days. 2nd trade now is expiring, but highly dangerous as I sell sugar put, but magically, the price went down together with DJ many days in a row. It will expire in 3 days time, price is holding, but not really well.

It is definitely a good lesson to show me that option is not that easy, it still takes some judgement, patience to find good trade before can enter.

I now on puts for Euro, as I see Euro should very good support, and I sell fairly far distance away with 31 days to go.

Will update soon on 2 trade expiring next mon for clude oil and sugar.

Lost money again

Had been the worst month since I started "full time" trading. I had already follow rules and enter, but still mount to great amount of losses. The sign already showing that many stocks are in down trend. But when bank is moving the STI up, the temptation to trade is still there. DJ continue down for 8 days, but STI hold strong, so isn't it showing that STI is holding up? NO! Because once DJ break down -600 points in 1 day, the whole world broke with it.

I guess this is the most expensive lesson learnt so far, the thought of giving up comes to mind again. Am I really in for trading? Loss money again and again, when will I ever recover my loss?

My wife ask me 1 question, why am I using CMC to long? Ain't I suppose to use CMC to short the market? Well, its true in some sense, but I am suppose to use the tools to trade both direction. I just in the mist of trading, forget all the rules, and become blur. No excuse, but it is really the heat of moment, can't snap out of it, until all is lost, then manage to wake up.

Having say all this, I will become wiser, hopefully, and start trading from the basic. Trading from the basic is not forcing, but come straight to mind, that this trade can enter or not. Hopefully this shorting market, can let me recoup some losses back for the next leg of up trend.

25th July 2011

0900hrs

Market open down due to the news from US that the debt ceiling had not been raise. Overall region market all down. Tiger start moving around 1000hrs, now up $0.015 at 1045hrs

1200hrs
Market continue to be weak, STI down 31, all 30 components all red except Jardine. Tiger now up $0.03 to $1.18


1400hrs
Market open slightly better but still down, HSI down 202, Nikkei down 82, SSE down 77
Kepcorp turn positive after lunch, driven by dividend payout on 27th July


1700hrs
Market turn up, although still close in red zone, but manage to recover to close negative 11 only.
Europe also turn from negative to positive slowly. US futures also recover but remain to be seen what will happen after market opens.

Update 22nd July 2011

0900hrs
US market was up 152 points at 12724.
Market open up 20 points in the early morning, slowly go up and do not have pull back. Mostly already gap up, which present no opportunity to buy

1400hrs
After lunch still trading strong, blue chips still continuous to move up:
Citydev $10.93 +$0.42
F&N     $6.07 +$0.09
Keppel Corp $11.16 +$0.34
SGX $7.43 +$0.14
UOB $20.16 +$0.17




After a big drop, it is still big cap stocks that moves up, usually using 2BCB to enter, if not is buy bottom or buy on rebound, if not will have no chance to ride this momentum. Cannot use breakout as it will not work!

1700hrs
The market close up 44.44 points to 3182.
Europe is up early afternoon after EU agrees on the final bill out plan
DJ futures are also.
The guess on negative today never happen as the news on Greece bail out materialize
Holding position:
1. Dynamac $0.56
2. Ezra $1.275
3. Osim $1.52
4. Tiger $1.155
5. Wilmar $5.78

Update 21th July 2011

0900hrs
US market was slightly down -15 points at 12571. Market is weak in the early morning, slowly recover after opening. See-Saw the whole morning till lunch time.

1400hrs
After lunch HSI recovers and move into positive directory, STI follows also, stocks that move the STI are Citydev $10.51 +$0.24
F&N $5.98 +$0.05
Keppel Corp $10.82 +$0.02
SGX $7.31 +$0.07
UOB $19.99 +$0.13

1700hrs
The market close up 12 points. Although Europe is down early afternoon and DJ futures are down. The guess is it will be a negative day on 22nd July, lets see. Not holding to any position at the moment except shorting of Capitaland.

Binary option

I have been trying the new Binary option, which is trading most on indices on
HSI(HS42), Nikkei(N225) & STI(Sing blue chips)
Germany 20, FTSE, France 40
SPX500, Wall ST

All the trading is done on IG market, not really to my liking but had been the best I can find, which is the local market. Trading on the size of $100k which is pretty easy. So when have to trade on the size of less than $1k, I guess it will be pretty difficult.

Trading is base on selling level which the indices will not go, or buying level which the indices will not drop to. Much testing still need to be done. Will post the result in the future.

Update 20th July 2011

Market STI up 30 points after bullishness from DJ which up 200 points. But in actual fact, the stocks leading the STI is only UOB, OCBC, DBS, Citydev

Genting was down due to downgrade from Deutache Bank.

Broking....Trading...Optioning...

It had been 4 months into Broking with CIMB. Not very long, not very short...but I have yet see any result. I regard it as temporary(I hope) failure to the short time frame. But in fact I guess is due to my inability to get client that can trade regularly. I also unable to get more client 4 months into my job, as those that I know already sign up. Those that I do not know, I still trying to figure out how to get them. It certainly not same as before which initially thought I have tons of client I can get to trade with me. How come it is different after I got the job? Hmm.....

I guess unless I start stepping out to meet client, I will not be able to get any more clients. One thing I realize is that I cannot rely on others to recommend client to me. Be it, far friends, close friends, even close one also didn't help. I guess it still come down to this word: "Need to do anything, DO IT YOURSELF!"

Let me start getting my mind set ready and start going out to meet client. Let me just relax 1 more week, very last week, and I will start calling, going out.

As for trading, it still not going anywhere. I follow the rules, enter base on using MA as filter. But still not profitable, the main reason being a big loss is incurred in playing speculation stocks. It happen in May and June also, guess I didn't learnt the lesson, and cannot resist the temptation to enter.

I had been reviewing the method and going to stick to the basic and not tweak anything, or add in any other things, keep it simple as it work best. Hope the trading will start working soon, as I really cannot hold on anymore.

Last but not least, I have completed my option course and have start learning the trick to option selling. The hand holding session had been good, and I had start preparing all the necessary items to facilitate my learning. The white board is up in my room, so I can write all the important and related information on the board to keep track of the market and my performance.

Just got info that the trainer will be reviewing his latest strategy on intraday trading on option selling. He will be holding this session on Monday night, which is tonight, 11th July 2011. The intraday can be as short as 1 day to 1 week. Kind of excited if it really works and I can learnt how to do it. Will keep posted once I attend the session.

I am down to my last chip, no more time to waste, no more chip to lose, I have to start making progress. I cannot keep on relying my dearest to keep on feeding me $$ to keep me going. It is not right, and it cannot work this way. I HAVE TO START GOING!!!

I have been to 4 horse road 2 times, ask for advise 2 times, but both times ask me to stay put, stay at the present position. Do not really know what it means. But anyway, will keep myself on toes and be careful.

Notes from a experience trader

"Most traders, especially futures traders, have been taught from their first trading lesson that in order to turn a profit, a series of small losses must be accepted to make that one big gain. It is the potential for this one big gain that keeps traders and gamblers alike coming back time after time and losing money time after time."

"Taking many losses in order to make one big gain is very difficult, even for the most experienced investor. Why? Because it goes against human nature. Humans are cursed with the emotion of hope when involved in an investment situation. We hope our losses will turn around for us and look for excuses to stay in our position for one more day. Yet, when faced with a winning trade, the anxiety of remaining in the position is almost unbearable."


How come I find the above 2 scenario so familiar? Hadn't I been thought this way, and hadn't I experience it so many times? Hahaha....well well well....

 “Cut your losses short, and let your profits run.” Traders have been drilled and instructed continuously that in order to make any money in futures trading, one must accept a large percentage of small losers while waiting for one or two large winning trades to not only recoup all the losses but also to provide an overall profit."

"While we have to agree with this concept in a general sense, applying it in a real-life trading account is extremely difficult, if not impossible, for most individual investors. Stops can be placed to limit losses on futures positions, but floor traders tend to have a feel for where large concentrations of stop orders may be sitting. While we are not suggesting that these floor traders would run these stops deliberately (of course not, floor traders and professionals care about you and would never do that), it is very curious how a market will often crack a key point of support or resistance only to turn around and make a large move in the opposite direction."

"Books on trading answer this by telling you not to be emotional about your trading. How can you not be emotional about your trading? This is your money that we’re talking about! You’re going to be emotional about it no matter what you tell yourself."

"What about deciding when to take profits? Letting a winner run can be even more psychologically difficult than cutting a loss short. A trader is so excited about seeing the market move in her direction that she becomes terrified that it will reverse and take back the profits it so willingly granted her. We’ve seen more traders go bust in not knowing where to take profits than we’ve seen traders who get buried with one or two large losses. The result of this fear is that most traders take profits way too soon, even when they have a nice winner going. There are no hard and fast rules as to when to take profits. Nobody knows if the market is reversing on a given day or only experiencing a short term trend correction. This is one of the many reasons why futures trading is so difficult."

Wrong Wrong Wrong

Wrong timing to enter the job, Wrong timing to trade, Wrong timing to enter the market....Almost everything is wrong....sigh...

Market heading for bigger correction...

The market in June wasn't much better. In fact it is worst then initial thought(My thought), it is heading for a bigger correction. Stocks didn't break down 1 by 1, but take turn to break support and make new low. Even if overnight wall street close very positive, Asia and Singapore will close weak to negative.

Even if got rebound, it will be 1 day affair, the movement will go up on 1 day and come down the next. Shares bought on up day, will have no profit, losses will be incur and close position with losses. Contra can be virtually impossible, holding will see the price getting lower and lower.

If this still goes on to July, then I will have a hard time going by. Only thing is I am on lesser and lesser trade, which is good thing as i incur lesser loss than in May. Must be able to stop trading until direction is clear!!

The month in May and June really sucks, but I can only take this as a lesson to learnt, although a very expensive lesson! I need to remember this 2 month and do not happen in the future again. I can't do anything about the losses for now, only to take back when market is better.

Start blogging again

Hi, been long time since I blog, 4 months to be exact...The last time I blog, I was still and Engineer, now I am a AVP with CIMB! Well, enough of that, I shall get down to business.

I have been in CIMB for 3 months already, times sure flies! It not been a great 3 months for me as the market had not been trending...worst in the month of May as I forgot all my basic and try to trade using my ass instead of my brain. I was trading well in March, not so well in April, but worst in May.

Had the thought of giving up, since I can't make it even I am monitoring full time. My salary sure doesn't support me in paying for the loss. Just when I am in dilemma, I went to 2 seminar which make me reconsider my decision.

The 1st speaker spoke of his experience, which he loss many many more money that I have lost, considering of giving after that also. But he tell himself if he gave up after the loss, he will never had the chance to recover back the lost at all. This thoughts make him go forward by acquiring more skill in trading, better trading plan, and finally he make it. Although I do not know how true is his story, or he is just trying to sell his product, but it sure makes me much clearer what I have to do.

The other speaker in the 2nd seminar, an option trader which spent 40k in learning to trade the market, speak clearly his trading journey of 8 yrs before he can make consistent profit signal to me, my journey is still long ahead. From the way he talk, he sure sounds like a trader which knows what he is trading, and can trade. I will be going for the seminar to see if I can afford the course fees to learn from him in trading option.

US market is really the market to trade as the size and variety of the market is much more bigger, there is higher chance of finding a trade then in Singapore market.

I am also reviewing my technique, to go back to the basic and no more fanciful stuff. The most basic is yet the best method to trade.

Market starts, I shall stop here, soon I will be updating often on my trading result so as to keep track how I am doing.

My journey to be trader...

Had been awhile that I have blog about my journey as a trader…Been busy with engineering work for few months…Well, a little bit, just little bit, is because of laziness. Well, 2010 had not been a good trading years for me. STI have rise from 2000 to 3100 as of Oct, but I haven’t gain anything from it. In fact, I have paid quite a handful of times to the market, as well as money.

Luck has not been with me, most of the time I enter, base on break out, the market already exhausted. So every time I contra, I lost money. Actually, lost more than gain, so still is losing year for me. I will be going for my oversea installation trip next week, 16^th Oct to mid of Dec and year end trip to Korea. So I can consider my trading year close for 2010 already.  

I always question myself, should I have trade when I have no time to monitor the market? Well, so what if I can monitor the market, will I be able to gain and not lost? I am not so sure about that. In fact, when we are trading contra, the risk of time running out before the counter moves are always there. When I have not much capital to pick up the counter, when times out, T+5, no matter win or lose, I still must close my position.

Last year was easy, contra win, contra win. This year seems that the market behaviour change. Most of the time, the moves last only 2 days, sell within 2 days to make money. Hold longer and face losing money. Sep is the month I decided enough is enough, I shall trade demo, record the trade I was suppose to enter, and see how it goes at the end of T+5. Amazingly, I make a lot, too bad its demo, which of course I didn’t recoup what I lost. When I decided to enter real, again I face the same pattern which I encounter in my previous month.

I ask myself, could it be this is really not my year? Or my trading method is wrong? Or is it due to I do not have time to monitor market? Should I stop trading contra since it doesn’t bring me any success? So what can I do when I myself become broker, should I or should I not trade? Or do I trade CFD instead since it can allow me longer time frame and I do not have to sell within the contra period? Who can answer the above question that I have for me? All this doubt is making me thinking should I really quit going for a low paying job which may or may not bring me success in the future.

Now I started to understand why the Asia charts trainer tells me to accumulate more capital before going full time. I guess he faces the same problem I am facing also, except that he can monitor full time, and he can make a lot by teaching people. So he doesn’t really need to trade for a living. When(If) I become a broker, I do not have to trade for a living, I just need to work hard to get more customer, which bring me to think, can I really get a lot of people to trade under me regularly to sustain my salary? This entire question will not be known until I go and try it out. I told myself, my wife that I need to work something out before I turn 40. Because when you reach 40, you can’t choose to do what you want anymore. You will be begging people to employ you instead.

Now I am waiting to see if I can get my license before deciding to quit or not and when to quit. I was suppose to learn how to cook Japanese soup, but was too busy working, before I know it; I need to go oversea already. So now, where do I go from here? I left 2 more years before my customary wedding; can I get my job stable before that? I think 2012 is the year I need to have the wedding already, it had is almost 9 years since I ROM, can’t drag any longer, where is the limit if I drag 1 more time?

(While writing this blog, I have 1 very good entry counter(Noble), again cannot make money, close position with the same price I bought. Lose on commission)

1 thing for sure, I will know the answer to all my question 5 yrs down the road. For now, I can only reflect on what I have been trading and gain experience from there. I got all my trades recorded, will go through all my trading this year while I am oversea, hopefully I got time to do that. 

It never easy to be a trader...especially contra trading. I have cut down on my trading already, until I am confident again in trading the market. Currently, I just stick to my demo trading.

Shorting

The month of shorting started in May 2010...lets see how long it last...My guess would probably last till July, after the world cup 2010.. The market may just correct 50% down from the rally high...

Wilmar being sell down due to Tax invasion news

Wilmar gap down on 19/05/10 due to the news that it is being investigated in Indonesia for tax invasion.
It is sold down for 2 days, including the 3rd day, which gap down when open, due to the 300 points sell down in DJ overnight.

Midway through the 3rd day, reversal happen. (Rebound bound to happen as the sell down was over-reaction) By using 15mins chart, it close the gap on the 3rd candle, sign of reversal is going to happen. Entry point can be when it close the gap, but risk is there.

For confirmation, wait for further sign to happen. It make day high on the 5th candle, pull back on the 6 candle. Entry point is the break high of the 5th candle. Exit point is the close of the long tail candle.

DJ, STI update

3rd of March, DJ is moving up slowly, it is moving above 10438, I see it should be testing 10508 today, but probably this is the level it should be resting. Its a significant resistance

STI manage to stay above 2772 after sideway, see saw up and down the whole day. I see STI should test 2808 on 4th of march. 2808 is more resistance than 2772.

IndoFood

Out of the 3 counter I bought, only Indo did manage to sell higher. Contra loss on Cosco for $100plus, while I pick up Ho Bee, as I see the correction is temporary only...hope I am right...

This is the story on indo. I was MC on the last day of contra T+5. So was able to monitor the counter while I am resting. It started to move after lunch, but was wondering how high I can sell. Saw the Fibo level at $2.18, since it is last day, why not queue $2.18. It is not likely to go much higher as the whole market is not strong. Bingo!!!, manage to get out at $2.18 as it never go higher than that.

Only thing is I got in again at $2.16, as the break out seems valid.

New pattern for entry, usually happen after few days sell down.

Use this pattern cautiously, yet to be proven by William Wise. This pattern should be good during bull run correction. As for bear period, remain to be seen how effective it is.