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My Charting Blog

It is interesting that I start off this Blog when the Singapore Stock Market is heading south. However, this makes it more interesting for me to write on as the market turned volatile. My interest is Technical Analysis, TA for short. I love to look at charts and predicting where they are heading. This blog is or me to record my thoughts on the market. The articles on this blog are based solely on my personal opinion on the charts that I read and readers should not take it as absolute.

10/06/2010

The use of NLP Circle of Excellence

It has been quite a while since I have last used the NLP resources on myself.I have been a coach in the past applying all the methods from NLP until one day I got a little sick of it.

Since I am really (really) down these few days, I have decided to use one of the method to overcome my weakness, I chose Circle of Excellence. It is not that easy to use because you need to build resources on an object and then absorb the energy of the resources. The advantage is that you can build more than one resource and you can reuse the object. Everytime you touch the object, the resources will automatically be available to you.

So from a simple circle of excellence, I can diversify into phone of excellence, door of excellence, notebook of excellence, etc. The only problem with the creation is that people will think you are a wierdo holding on to an object while looking like having an orgasm.

But then, the circle of excellence worked for me today and I felt much better afterward.


Fig 1 STI Daily Chart

I have been writing about STI these few days because the development is quite interesting. As I mentioned yesterday, the market seems to be celebrating LKY's wife passing, it again went another notch higher.

The interesting part of today's move is that it is stopped at the 38.2% Fibonacci projection of 3,197. At the end of the day, it retraced to 3,190.

The Stochastic somehow retraced while RSI continued to climb. The only problem with that is that the up-side is limited. Further more, the index is reaching a turning point base on the Gann Grid line that I have placed. So I supposed this time the evening star would be more plausible than the last.

At present STI will be supported by its 23.6% Fibonacci projection support at 3,141. IF going higher, the next resistance will be 50% Fibonacci Projection at 3,244.

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