Market Update: 30 Nov 2013

We have come to the last month of 2013. Usually December seem to be low volatility month where by people start packing their luggage for holidays especially Index like STI which been floating sideway for so long. However the bull on other indices seems not interested for a holiday trip yet. They have been going higher and higher where by people believe X’mas gift will come before the day itself.
Anyway let’s look back on those indices which I charted out last week and another 2 chart which consist of Gold & AUDNZD. 

Please trade wisely :)

DJI seem like going to approach my highlighted resistance. Watch out for any reverse candlestick

HangSeng have touched 24000. If the next candlestick able to stay above this 24k whole figure resistance. Watch out for the next resistance.

Shanghai in the weekly chart candlestick show a successfully breakout which i have pointed out last week on my blog. Let's see whether it able to go for the next resistance.

STI remain the least movement for the week. symmetrical triangle still in play. Like I mentioned during last week. Perhaps STI will stuck inbetween the FIBO till end of year.

Congrats to those who follow my blog and traded on this breakout in the 4Hour chart. For those who traded on the breakout, my advise will be do a trail stop or step breakeven your stoplost.

AUDNZD have been in trend playing for weeks. The first circle which break below the support may seem to be a fake breakout. If you are keen in this trade. my advise will be: Entry after it break the trend line which i draw on the chart with a stop lost @ 1.110. RR is good with a 90pips stop lost over 300pips of profit target. (side note, both currency are strong and they are interested to lower the strength of their currency. So wont be one-sided game. Side way trading will seem to be fine)