The 50 day moving average appears poised to make a golden cross, with an almost flat 200 day moving average. This positive signal suggests that the current corrective phase is probably temporary and should be resolved on the upside. There is nothing to suggest that the uptrend is over. Annual momentum is just turning up from oversold lows.


For now, though, short-term indicators are still on their way down. Support for the corrective phase is at $1. Resistance is at $1.40. A successful break indicates a target of $1.80(**Investsgx: If you no idea how to derive target at $1.80, kindly email me at investsgx@gmail.com. I vested today, 25 May 2009 after breakout!**). The market is excited because Ezra’s expertise in sub-sea equipment could be much in demand if Australia’s North-West Shelf is to be developed further, market watchers say.
What Does Golden Cross Mean?(more below)

A crossover involving a security's short-term moving average breaking above its long-term moving average or resistance level.

Investopedia explains Golden Cross
As long-term indicators carry more weight, the Golden Cross indicates a bull market on the horizon and is reinforced by high trading volumes. Additionally, the long-term moving average becomes the new support level in the rising market.

Technicians might see this cross as a sign that the market has turned in favor of the stock.

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I am reading some marketing material and someone claimed that they have the best trading strategies in the Forex market to share with me.

They gave the quick summary as follow:

- The 7 steps that will boost any system's win %
- How to avoid being one of the 95% who fail
- Trade management used by the world's elite traders
- How to profit from random noise in the market
- How to avoid the high cost of broker commissions
- How to avoid high stress in trading
- How to have a full-time job and still trade
- How to get a home-run every time you trade

Here is what I thought when I read those lines:

- How to avoid being one of the 95% who fail
Loser outnumbered winner not for no reason. Being difference from the crowd seems to be the logical pre-requisition. However, the most lethal point is that most people think they are unique and difference from Mr. Tom, Dick and Harry sitting beside him. The fact is: We are the same creature of life with too much similarity of heritage weakness.


- Trade management used by the world's elite traders
Will elite traders tell you what they did if their system work?

- How to profit from random noise in the market
Random noise means random market direction? Well, the risk to catch random market is like playing with flying knifes. Trending market is more predictable and likely more profitable with acceptable risk.

- How to avoid the high cost of broker commissions
We have limited choice in Singapore market. Nonetheless, the saving in commissions will not make us richer then what we want to be. I would rather reward the broker with a competitive commission for good services. We shall not assume that we can make good profit and at the same time exploiting them as a discount broker.

- How to avoid high stress in trading
There is not point making money but suffering high stress. The most preferred way is to increase the level of certainty to lower the stress level. However, high risk high return, low risk low return, no risk no return.

- How to have a full-time job and still trade
Who need a full-time job when you have the ‘best trading strategies’ on the planet earth?

- How to get a home-run every time you trade
Me or Mr. Market make a home-run? If we can make a home-run for every trade, who is going to carry the baby at the end of cycle?

- The 7 steps that will boost any system's win %
These 7 steps are perfect plan for an arm chair trader. However, the actual market challenge is obviously much tougher then what everyone could imagine. Instead of strategies, we need action plan before it turn out to be tragedies.

Enjoy the roller coaster ride!

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