DrBourse TA Help for Beginners

[DrBourse]

Another Example for Beginners....
The following Chart of BHP on Last Night’s NYSE…


Note the following…
2/5/24 was a RED Candle, so Sellers were still in Control at the End of The Day…

The CCI 10 BLUE Line has just crossed up through its WMA 10, so that’s My 1st Entry Point,… BUT that needs Confirmation of some sort, A Green Candle would be Great…

The DMI 7 (as per the RULES), shows that the GREEN Line is UP, and the RED Line is DOWN, that combo suggests a ST Uptrend… BUT that needs Confirmation of some sort, The RED Line going DOWN through the BLUE, and the GREEN Line continuing UP would also be Great….
The last Entry is SUGGESTED if/when both the BLUE & GREEN Lines go above the RED Line….

The MFI 30 is just below its Centreline, so it is still just “Under Water”… That needs to cross UP through “to ABOVE it’s Centreline”…


Now, look back to 13/11/23 (the Blue Dotted Vertical Line) – on that day the CCI gave its Entry Signal – the DMI GREEN Line was UP, and the RED Line was DOWN – the next day, 14/11/23 the GREEN & BLUE Lines are above the RED… The MFI was already ABOVE it’s Centreline…

Look at where the SP went after that combination of CCI, DMI & MFI Signals were given.

Admitedly, Those of you with the God Given Ability to correctly call a ST Trend Bottom MAY have been able to enter on 8/11/23 - Personally, I don't like Falling Knives...

Once again - Good Luck with all that - AND REMEMBER that TA is a DAILY Event... So DYOR....

Cheers...
DrB.

 

[DrBourse]

Another Example for Beginners....
The following Chart of BHP on Last Night’s NYSE…
View attachment 176168

Note the following…
2/5/24 was a RED Candle, so Sellers were still in Control at the End of The Day…

The CCI 10 BLUE Line has just crossed up through its WMA 10, so that’s My 1st Entry Point,… BUT that needs Confirmation of some sort, A Green Candle would be Great…

The DMI 7 (as per the RULES), shows that the GREEN Line is UP, and the RED Line is DOWN, that combo suggests a ST Uptrend… BUT that needs Confirmation of some sort, The RED Line going DOWN through the BLUE, and the GREEN Line continuing UP would also be Great….
The last Entry is SUGGESTED if/when both the BLUE & GREEN Lines go above the RED Line….

The MFI 30 is just below its Centreline, so it is still just “Under Water”… That needs to cross UP through “to ABOVE it’s Centreline”…


Now, look back to 13/11/23 (the Blue Dotted Vertical Line) – on that day the CCI gave its Entry Signal – the DMI GREEN Line was UP, and the RED Line was DOWN – the next day, 14/11/23 the GREEN & BLUE Lines are above the RED… The MFI was already ABOVE it’s Centreline…

Look at where the SP went after that combination of CCI, DMI & MFI Signals were given.

Admitedly, Those of you with the God Given Ability to correctly call a ST Trend Bottom MAY have been able to enter on 8/11/23 - Personally, I don't like Falling Knives...

Once again - Good Luck with all that - AND REMEMBER that TA is a DAILY Event... So DYOR....

Cheers...
DrB.

Refer to my Post #261 dated 3/5/24, where I looked at BHP on the NYSE for the overnight signals….


Now, as a follow-up, I show the chart for BHP on our ASX as at Friday Close 10/5/24…


Although we were given a CCI 10 Entry Signal on the BHP NYSE Chart, on our ASX Chart for the next week after 2/5/24, the DMI 7 & MFI 30 failed to give me any guidance or confirmation that BHP MAY be heading for a ST Uptrend..

So that shows the benefit of waiting for some form of confirmation after receiving the original CCI 10 Entry signal….

Now the MFI 30 & the DMI 7 both suggest a ST sideways move…

Need to watch the DMI & MFI over the next week, as this may still be a viable trade should these 2 Indicators move in the right directions…

Cheers..
DrB

 

[DrBourse]

For those of you that follow my posts, you will realise that I use the CCI 10 (pages 108 & 109) as my "Early Warning Indicator"... BUT I Never BUY on that Indicator Alone - sometimes it is just a bit too early with it's signals....

I often use it in my Scanner, My parameters would be. "any Rise Up From Below -100", and Secondly "where the CCI 10 Crosses UP Through it's WMA 10".....

Then after that initial "early warning", I would watch the DMI 7 (pages 105, 106 & 107) & MFI 30 ( page 95) & Candlesticks & Other TA Tools of Trade, for confirmation signals....

As the 'MeerKats say' - SIMPLE...

Just follow the Rules....


Cheers,,
DrB.

 

[DrBourse]

Another interesting TA Signal for Beginners to watch for a few days….

The 1st Candle was on 3/6/24 and todays (4/9/24) candle - It’s a Containment Candle Formation (See page 30), on CSL….






It is obviously a Lower Grade Containment Formation as there is no Gap between the 2 candles….

Nevertheless, the theory is the same as listed in the above snapshot…..

Have a look at the last Doji on 28/3/24 – What happened after 28/3/24 ?? – Will that happen again ??....

Look at the CCI & DMI signals, favourable, but tracking sideways….

CSL obviously does not like that $286.50 Resistance Line….

Note the Colour of the 2 Candles in question in relation to the eventual breakout, there are clues for you to learn within the candle colours...

What will CSL’s next move be ?? – my call is Down to the $271.20 Support Line in the ST…. REMEMBER TO DYOR....

Remember that there are 2 versions of TA - first there is the TA offered to the general public via books & training sites/seminars...
And, secondly there is the TA used by Brokers, Analysts, Merchant Bankers, etc, that I utalise....

Cheers..
DrB.

 

[DrBourse]

Just made a few small edits to my last post - sorry bout that folks....

 

[DrBourse]

Another Warning to Beginners - Don't believe everything that web sites put out there for you - sometimes the sites "have no idea what they are talking about - Some are just typo's - and others are just downright misleading"....

Have a look at the following - they have no idea what they are publishing IMO.... and they never produce any evidence to substantiate the call.

Your Call Folks...


Cheers...
DrB.

 

[DrBourse]

Another interesting TA Signal for Beginners to watch for a few days….

The 1st Candle was on 3/6/24 and todays (4/9/24) candle - It’s a Containment Candle Formation (See page 30), on CSL….

View attachment 178122
View attachment 178123

View attachment 178121

It is obviously a Lower Grade Containment Formation as there is no Gap between the 2 candles….

Nevertheless, the theory is the same as listed in the above snapshot…..

Have a look at the last Doji on 28/3/24 – What happened after 28/3/24 ?? – Will that happen again ??....

Look at the CCI & DMI signals, favourable, but tracking sideways….

CSL obviously does not like that $286.50 Resistance Line….

Note the Colour of the 2 Candles in question in relation to the eventual breakout, there are clues for you to learn within the candle colours...

What will CSL’s next move be ?? – my call is Down to the $271.20 Support Line in the ST…. REMEMBER TO DYOR....

Remember that there are 2 versions of TA - first there is the TA offered to the general public via books & training sites/seminars...
And, secondly there is the TA used by Brokers, Analysts, Merchant Bankers, etc, that I utalise....

Cheers..
DrB.

Another Typo from me….. Having a bad day with this bloody keyboard…

The sentence “The 1st Candle was on 3/6/24 and todays (4/9/24) candle - It’s a Containment Candle Formation (See page 30), should read:-

The Candles were on 30/5/24 and 31/5/24 - It’s a Containment Candle Formation (See page 30),



Once again – Sorry bout that…. Going to the Naughty Corner now..

 

[Skate]

Going to the Naughty Corner now..

@DrBourse, no "Naughty Corner" for you. At times, our fingers can't keep up with the rapid pace of our thoughts, and minor mishaps are a common occurrence. What truly matters is how we respond to those mistakes "demonstrates" the strength of one's character.

While my three posts today may not be as inspiring as I had hoped, they do reflect my current thoughts.

Post #1. Navigating the Wealth of Trading Information
This post talks about the sheer volume of data and how differing opinions can be "overwhelming".

Post #2. More Than Money
This is where I talk about the "enjoyment" of being involved in the markets.

Remember that there are 2 versions of TA - first there is the TA offered to the general public via books & training sites/seminars...
And, secondly there is the TA used by Brokers, Analysts, Merchant Bankers, etc, that I utalise....

Post #3. The Pitfalls of Over-Reliance on Others
This post is about "underestimating" the value of our intuition.

Keep up the great work - it is truly appreciated by many.

Skate.

 

[Rabbithop]

Dr.B, you are a champion..cos you are a careful person, you rechecked your postings, picked up your typo errors which often happen to All of us from time to time or the smart tool we using pick the wrong word. You point out your error, correct it n apologise unlike others failed to do what a champion should do.

 

[DrBourse]

Another Typo from me….. Having a bad day with this bloody keyboard…

The sentence “The 1st Candle was on 3/6/24 and todays (4/9/24) candle - It’s a Containment Candle Formation (See page 30), should read:-

The Candles were on 30/5/24 and 31/5/24 - It’s a Containment Candle Formation (See page 30),



Once again – Sorry bout that…. Going to the Naughty Corner now..

So Far CSL is going to plan - 6/6/24 and the ST days after that will give us some confirmation to the next direction for CSL....

 

[DrBourse]

So Far CSL is going to plan - 6/6/24 and the ST days after that will give us some confirmation to the next direction for CSL....
View attachment 178172

So far I have made 12 precise calls on CSL’s TA progress - All Correct so far....

Well call Nr 13 is upon us… So this is probably going to be the one I get wrong…

It looks as though the Containment Candle Formation of 30/5/24 & 31/5/24 has been broken, And we have the CCI & MFI suggesting a ST Uptrend –

However the CSL SP is still within the 100 day L/R (Pink & Blue Linear Regression Indicator) – So the Candle for 6/6/24 is the key.. I need the SP 2B above the $286.50 BCF Line… However, the Final Confirmation Signal will come from the Candle for 6/6/24…

That is, a Green Candle above the $286.50 would be ideal – On the other hand a Red Candle anywhere for 6/6/24 would prompt a very quick recalculation…



Remember that TA & Indicators require Confirmation of some sort – NOBODY should act on just one unconfirmed TA Indicator – as explained above I have the CCI, the MFI, the Containment Candle Formation, the Candle for 6/6/24 AND the BCF Top Resistance Line guiding my decision…. If all the ducks line up I will act... BUT I will not tell anybody, as I cannot give Entry/Exit advice…. I may get the signals I need, but there may be unforeseen information that could over-ride all the above….

This is a tricky occupation – If it were easy, everybody in the ASX Sandpit would be a winner…

SO DYOR ….

Cheers...
DrB.

 

[DrBourse]

Of course all that work & TA goes "Out the Window" if the CSL Board issue one of their typical "foot-in-mouth" announcements

 

[Rabbithop]

Too right...This is a tricky occupation otherwise we are all billionaires. Similar to the casino or clubs Grand jkpt, many pple think that it is a sure thing, jkpt of that high shld/ wld come down today..most time one goes home with empty pockets or bank account.
Similar to Melbourne cup, that horse is a sure winner, take out a personal loan, empty the life saving/ bank acc or mortgage the house to place the bet..just one go at even pay out, I would still be a winner..
Guess it's all bad news in the end, horse came in 3rd or 4th.
Winners are those who stay away from the Race.
Shocking if CSL drop to $200, maybe then, I will open my wallet.

 

[divs4ever]

maybe then, I will open my wallet.

not for me , the numbers don't crunch well for me

IF such was to occur , i would glance AUI ( with a view to adding extra ) as CSL drops seem to affect AUI disproportionately

 

[Garpal Gumnut]

Of course all that work & TA goes "Out the Window" if the CSL Board issue one of their typical "foot-in-mouth" announcements

Now he tells me !

gg

 

[DrBourse]

Thursday 6/6/24 7.30am....
The CSL Scenario Continues:- ....

Overseas this morning, in the USA, at COB 5/6/24, CSLLY on the OTC Market is up by 1.83% as at 6am Australian Time 6/6/24…. And the CSJ by 1.88% on the FWB German Market ….

Therefore ,we would anticipate CSL, on our Market today 6/6/24, would rise by 1% pretty easily….

The only drawback for us is that CSL will probably Gap Up on Open - Unless CSL develop “Foot-in-Mouth” problems B4 todays Open….

Should we have entered CSL on our Close yesterday 5/6/24 @ about $285.80 – I would not, You may have decided otherwise….

When ST Trading, you must have your sell screen ready to go within a few seconds notice immediately after your Entry….

Notice that all 3 charts are similar in appearance….





Good Hunting & Good Luck with all that - AND REMEMBER TO DYOR....
Cheers..
DrB.

 

[DrBourse]

 

[DrBourse]

Thursday 6/6/24 7.30am....
The CSL Scenario Continues:- ....

Overseas this morning, in the USA, at COB 5/6/24, CSLLY on the OTC Market is up by 1.83% as at 6am Australian Time 6/6/24…. And the CSJ by 1.88% on the FWB German Market ….

Therefore ,we would anticipate CSL, on our Market today 6/6/24, would rise by 1% pretty easily….

The only drawback for us is that CSL will probably Gap Up on Open - Unless CSL develop “Foot-in-Mouth” problems B4 todays Open….

Should we have entered CSL on our Close yesterday 5/6/24 @ about $285.80 – I would not, You may have decided otherwise….

When ST Trading, you must have your sell screen ready to go within a few seconds notice immediately after your Entry….

Notice that all 3 charts are similar in appearance….

View attachment 178223
View attachment 178227
View attachment 178225

Good Hunting & Good Luck with all that - AND REMEMBER TO DYOR....
Cheers..
DrB.

Looks as though an Entry on open was the way to go -eh?....
But keep your finger on thr sell trigger, just in case....

Note that the CCI Indicator is not Happy atm....
Cheers..
DrB.

 

[DrBourse]

Note that the CCI is now Very Unhappy, BUT the MFI & DMI are ok.....
The Q is, What Will You Do?....

 

[DrBourse]

Read pages 108 & 109 for characteristics when the CCI Stays High.... It is currently at a SHH....