About Me

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I am a young invester/Trader, i mostly focus on Short term or Intra day trading on the equities or Forex markets. I have recently completed my Bachelor of Commerce double major in Finance and Property. I have also completed my RG146 in securities and Financial planning and while trading is a passion my desire is to work within the stockbroking industry or as a trader for an investment bank. This blog I have set up to help share ideas to others on trades and tips i have picked up from my time in the market. I hope you enjoy my blog and some of my ideas :)

Twitter / scilliams

This blog i have designed for a bit of fun, education and sharing of my thoughts in regards to trading the ASX or general equities trading and also FOREX trading. I am no expert and nothing on this blog should be taken as financial advice, it is merely just a tool for myself to share any trading thoughts i have and for people to enjoy reading :)

Wednesday, December 16, 2009

CHEAP PETROL

Caltex - caltex

When everyone thinks she was sinking We came to the rescue... Let me show you why below...

ctx 15-12-09


She is holding the $8 resistance levels from back in 2004.

Is showing an inverted head and shoulders pattern on the chart and has completed the down range to the resistance. She is looking way oversold and is ready for a move up. Long term i would be lookng for around the $15 mark possibly but i think a more realistic target between 12-13 is more likely attainable. no need to be greedy. hehehe

Minimal risk entry with a tight stop just below $8 and plenty of upside left.

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