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Forum KLSE (Stock Market) Technical Analysis
Calculation of target price. (0 viewing) 
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Calculation of target price.
#1291
Mr Tee (User)
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graphgraph
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10 Months, 3 Weeks ago
  
Read this article in a Singapore trading blog.

Interestingly, seeing how the chart is plotted and target price hence calculated.

Hope someone will shine the light here coz ....Hmmmmmm.......am I learning something right ?

Kindly comments.



.Link to chart.

The statement goes like this:

" A symmetrical triangle is created from 8 Oct 2007 to 3 Jan 2008. Today, it breakout from the triangle, hit high at $1.21, and closed at $1.19. There is also a bullish centerline crossover. RSI and stochastic look good to have more upside. ­base­d on symmetrical triangle, assume $1.09 is the breakout price, the target price is $1.09 + ($1.43 - $0.86) = $1.66. Prices to watch are $1.24, $1.34, $1.50. Immediate supports are 14dMA, Line A. "

Disclaimer: Only for discussion and learning purpose only.
 
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#1293
ttt (User)
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10 Months, 3 Weeks ago
  



Using Fibonacci Retracement, I get similar price resistances on its way up @ 1.24, 1.34, and of course 1.50. As for target price, I would rather let it run and monitor reversal sign through candlestick pattern.
 
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Last Edit: 2008/01/06 05:53 By ttt.
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#1296
Max (User)
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10 Months, 2 Weeks ago
  
Strictly Pattern Study Texts - the calculation would be right.
However, I myself also prefer not to use these type of targets. Trailing stop is preferred.
 
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#1297
Max (User)
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graphgraph
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10 Months, 2 Weeks ago
  
Strictly Pattern Study Texts - the calculation would be right.
However, I myself also prefer not to use these type of targets. Trailing stop is preferred.
 
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#1303
Jeff (User)
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10 Months, 2 Weeks ago
  
Max, do u mind to share ur trailing stop, i m learning how to use it and which point to determine. I m think to use previous close or today open. Izzit something that u r using too?
 
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#1304
Max (User)
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10 Months, 2 Weeks ago
  
Similar in a sense but slightly different in another - what I use is a point of which where touched, the probability of the trend reversal is high.
 
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#1305
Mr Tee (User)
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10 Months, 2 Weeks ago
  
For the sell stop....i have no chance to use it as yet for Malaysian market.

For the trailing buy-stop....as learned from the book by elder..which I still very much stick to it, is to place the entry price one tick above the previous high, provided the the wave against the tide while the latter in uptrend.

Jeff, you may have a look at the elder's ebook....trading for a living , in the section triple screen method.

Keep Learning..!
 
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#1311
Jeff (User)
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10 Months, 2 Weeks ago
  
Hmm... Mr. Tee, I m trying to search in the book, but i can't find it, do u mind to tell me in which page?

Thx...
 
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#1312
Mr Tee (User)
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10 Months, 2 Weeks ago
  
In the ebook..Trading for a living. Open the adobe, browse to page 250/304 and u will get it.

Happy learning.
 
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#1314
Jeff (User)
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10 Months, 2 Weeks ago
  
Thank you very much Mr. Tee. I will look for it :-)
 
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