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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 :)

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Scilliams Trading Blog

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, July 14, 2010

Charts

I have taken 2 position trades for longer term moves on both LGL, NCM and QBE.

I am bearish on gold hence the shorts, i am anticipating a lower swing top to be formed on both of these charts. i have only taken P1 here and will add on a confirmation.

I have the LGL chart here forming a double top and then lower top also. today was a turn date on LGL so took P1 today and with NCM. Stops are above the highs which can be moved when move begins.

LGL weekly

QBE i took a part postion today anticipating a break of that $18 resistance and then a move up to $20.

Will trade the swings on this one based on weekly time frame. So many things line up that let me know that this could be a good trade. For tighter stops place stops below 17.50

QBE Weekly
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