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Friday, October 2, 2009

The Failed Ascending Triangle

I anticipated market is going to have a breakout of its resistance few post back, and now the chances to breaking upside become slim. As so many stocks breaking their support level very hard. The ascending triangle on STI was failed with a gap down. The lesson here is if a resistance was hit so many times and it didn't break, it doesn't mean it will break one day, the fact is we are still under resistance and should not go long at resistance level.

No anticipation, No ambitious, not go long at resistance.I told myself. Market is always there ready to take advantage over any weakness of us.

I'll do a post late sat or sun,as I'll be on a airplane later. Again. Wish you happy Autumn Festival.

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