Weekly Update

I am thinking because it is so time consuming to post here i might limit it down to once a week (weekends) is when i do most my analysis.

I mean i don'd mind sharing my thoughts but it takes so long to post charts up and for this reason i will limit this unless people want specific things answered then please feel free to send me an email and i will work on your questions. scilliamstrading@gmail.com

Anyway i will give my update and thoughts for the week but in much more detail.

Try make it more of a newsletter wrap up thing but with more of a focus of what i will be watching in the week. Obviously it is better to follow on twitter as i update that live as i am taking trades and see things. But remember you all need to make your own decisions. I will try doing videos during the week when i have the time. :)

FIRST WEEK OF OCTOBER: we are now into the first week of October... where has this year gone!

This week there is the RBA interest rate decision and that will have a major play on the markets im assuming. (personally i dont think they will raise interest rates) i feel that the AUD has been given to much probability of a rate rise and will get sold off on the announcement regardless...

I am this week going to watch JBH. I feel JBH might be coming near to making a top and taking a decline back to between $15 or $17 area. (indicated by the blue highlight on chart)



This area is also 180 degrees or square of the highs and coincidently the 50% fib level from the last major range up. There are 2 major repeating ranges down both which project a target to around this area. From here i want to see a lower top formed with over bought Daily indicators. Once this has happened i would look to take the entry. However i should indicate that i want this to be within 25% of my monthly ranges.

I am thinking JBH will be a great long for monday when you play the openers rule with it. I would be looking for a target around initially $21 and then $21.20 area. Once a swing looks confirmed i will open a short position with stops over the highs at $22.50 area and try and short the stock back down to around $15/$17. I will assess as the position begins to shape up as there is still the risk that it will make a double top before going down.

I thought i would share that plan here as its open to interpretation and is more of a longer term look for the stock.

Hope it was useful :)