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Candlesticks and Fibonacci Secrets

I was quite disappointed with last Thursday's Wealth Academy Trader preview session.

Reasons:
  1. He shared more useful information at the Value Investing Seminar
  2. His focus was on the US market and on Options Trading.

Options trading is risky and not for everyone. More research and hardwork are required and these alone does not mean one will be successful. Ultimately it is your winning psychology which determines success (60%), whichever instrument you trade.


Only thing I liked was he shared his view that US is a bear market, either move down or sideways until 2011. And if rally does occur from 2012, it might last till 2016. He did not explain why. My guess is he is using the 4-year US Presidential Cycle to do his forecast.

I still stick to my Stock Market Forecast for the Next 8 Years. Understanding Market Cycle is important to determine the Equity Investment Strategy one should adopt.

Now the Secrets of Candlesticks and Fibonacci


I coined this, not him. Have you heard about the secret of number 3 and 7? I understand the stock market has a tendency to fluctuate every 3 or 7 days, months or years or multiples of that time-frame. This applies to the US market very well.

By fluctuate, I mean the trend reverses. Conrad said his experience was the market reverses on the 8th candlestick. A candlestick can represent 1 day, 1 month or any time-frame you set on the charts. And this coincides with Fibonacci numbers which is a series of numbers – 1,1,3,5,8,13....


Interesting? So next time, monitor and be extra careful when those numbers ie, 3 or 7 or multiples of these, and 8 comes!


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