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Cc59

Use of weekly CC59 support line as an entry for stock trading.In this photo, A sky-blue horizontal line was generated by CC59 counting down to -9. When this line was tested as a support level and the stock price could close above this line again, that point would have high possibility to give at least 4% return from a buy entry. To copy the setting of this graph into your own TradingView chart, just click on the magaphone icon (Share) at the bottom right and click on "Make This Mine" button in the pop-up window.
NASDAQ:TSLAEducation
by nimit.chomnawang
20190115 Trading the "1" in EURUSD M15.Trading in 20190115 EURUSD M15 chart was studied. At the time 02:15 UTC+7 Graph Reader Pro for TradingView counted CC59 downward and completed its required cycle at -9 (but the count continued to -14). At 03:45 CC59 counting changed upward to +1 but next bars could not close above its high point so this +1 bar was then discarded. At 05:00 the forex market started its new day. From this point on, Graph Reader Pro laid 3 white horizontal lines for the opening level of the day in the middle and for opening +- ADR/2 at the top and bottom respectively. It also laid 2 green horizontal lines for the high/low of yesterday at the top and bottom respectively. At 06:00 bar, an alarm with a message of "CC59 = +1" was sent out on the screen, to the email, and to a smart phone. This +1 bar was a long bullish one with a high of 1.14713 USD/EUR. At 06:30 the +3 bar closed at 1.14717 USD/EUR above the high of the +1 bar this was a buy point. After that at 08:30, the price climbed up to 1.14897 USD/EUR during the +11 bar or went up +18 pips in 2 hours. If an investor expect a reasonable profit such as +15 pips, this trade would have been a good one to slowly grow an account.
by nimit.chomnawang
20181228 Study of the recent rise of SET:PTT. 3.bp.blogspot.com In this educational idea, stock graphs of SET:PTT the largest oil company in Thailand are studied in comparison between daily (left) and weekly (right) time frames. With a few tools chosen from the Graph Reader Pro 4.0 for TradingView such as SMA3 (green), SMA13 (aqua), SMA50(yellow/magenta), SMA200 (blue) and CC59 counting with CC59 Resistance (horizontal orange), CC59 Support (horizontal aqua), RSI(14) and MACD(12,26,9). The Price rally of PTT began in July 2017 and ended in May 2018. The gain was about 50% in 10 months. In July 2017, the daily RSI was at 30% and the weekly RSI was about 50%. The price then climbed up quickly until the weekly CC59 counted up to "+9" and the RSI in both time frames reached 70%. This was the first rise that followed by correction/accumulation for about 2 months. The second rise was then started with CC59 count +1 up to +9. Then a few weeks of correction/accumulation followed. The third rise shot up the initial peak very quickly within two weeks. Eight weeks later the second peak was created at the level slightly higher than the initial peak. Although the second peak was higher than the first one, its corresponding RSI was lower. This indicated a bearish divergence state that signaled the end of the uptrend. Investors with trained eyes had two weeks to spot this divergence and take profit before the long downtrend started. It can be seen that the weekly graph is cleaner and easier to read .
SET:PTT
by nimit.chomnawang
Second 4% profit of SISB after CC59 counting to -9 has met.Singapore International School of Bangkok (SISB) M15 chart showed CC59 counting from -1 to -9 in the first IPO trading day. The -9 bar told possibility that the price reversal might be near. Some investors who trade the nine entered the market after the long and red stop hunting anchor bar. On the beginning of the second trading day, some big volumes got in causing a price slippage up and giving a nice 4% profit taking. CC59 counting could be done by hand or by a helper like Graph Reader Pro 4.0 for TradingView. Contact me to get invited to use this tool.
SET:SISB
by nimit.chomnawang
Investment in TASC01P1903A derivative warrant with SET:TASCO H1.This educational idea studies an hourly graph of SET:TASCO, a big asphalt refining company in Thailand. The aim of this study is to learn spotting a setup for a new downtrend so that a PUT Derivative Warrant referencing this stock could be entered for short-term investments. With Graph Reader Pro 4.0 for TradingView, many tasks for this study are done automatically. From the left of the chart, CC59 resistance (orange line) and CC59 support (light blue line) are generated by completions of -9 and +9 at 15.50 THB and 15.20 THB respectively. The price goes from between these lines down to below the light blue line to set the first "Min" point. Two bars later, the "MACDSig" label is printed to show that the MACD value is now higher than its own SMA9. This confirms a new uptrend. In addition, a series of positive CC59 counting is started. It is completed with the +9 bar. At this point the new CC59 support line is drawn at 14.90 THB. The price is also now crosses above both original light blue and orange lines. After that a tall bullish "Anchor" bar appears to create an "RSI>70" warning. The highest price of 16.10 THB is marked manually to see whether the price movement could go higher from here. Two bars later, the second "Min" point is printed. A dotted yellow demand line linking both "Min" points is then drawn manually to check for the beginning of a new downtrend. Four bars later the SMA3 line changes its color to red showing that the MACD value is now decreasing. The price bar also closes below the dotted yellow demand line. At 20181018 10:00, the label "MACD<Sig" is printed to confirm a new downtrend. This is an opportunity to buy TASC01P1903A PUT derivative warrant referencing SET:TASCO at the price 0.54 THB. At 20181024 09:00 (six days later), the price of SET:TASCO closes below the new CC59 support line (14.90 THB) while the price of TASC01P1903A PUT derivative warrant hits its previous high. This is a good exit point at 0.64 THB since the return of this investment is already +18.5%. To get invited to use the Graph Reader Pro 4.0 for TradingView, please contact me in the chat box.
SET:TASCOEducation
by nimit.chomnawang
Trading SET:DOD in its first IPO day with a M15 graph.In this educational idea, I bring up a case study of a Thai stock SET:DOD in its first trading day 20180620 with a graph of 15-minute time frame. With the custom indicator "Forex Insight Pro 7.0", many tool options such as local max/min, sma2 and sma3 crossing, sma ribbon, cc59 counting, gap finding, rsi warning provided useful information that could help in profitable trading. Starting from the left, the second bar at 20180620 10:00 showed a price rejection from the down side. The script mark a "Min" below that bar. Three bars later at 20180620 10:45 and four bars after that at 20180620 11:45, two "Max" bars were printed. If you drew a trend line between these two bars, a supply line was created. At 20180620 14:15, the market broke above this supply line giving a buy entry. This bar also close higher than the sma5 red line and higher than the close of four bars earlier. So the cc59 counting printed "+1" above this bar. The cc59 counting printed consecutive positive numbers as the price clibed upward along the sma5 red line until the ninth or "+9" was printed. Then a cc59 support light blue line was drawn at the lowest price among those from +1 to +9 bars. This was the profit taking point for those traders who follow "trading the nineth" strategy. At the next bar of 20180620 16:30 (last bar of the first trading day), the "Gap" mark was printed. At the next day's first bar, the price came down to close yesterday's gap. At 20180621 10:00 the marks "SMA2<3" was printed suggesting that the price uptrend had been exhausted. This confirmed the exit decision of those who "traded the nineth". Also, the mark "Min" was printed below this price bar. Drawing a trend line between the first "Min" mark from the left of the screen to this second "Min" bar gave a demand line. At 20180621 11:00, the price fully closed below this demand line suggesting that the uptrend had been exhausted and some traders could take the profit here. Notice that at this bar the mark "SMA2<3" also printed again. Three bars later at 20180621 11:45, the price closed below the red sma5 line suggesting another place to take the profits. At 20180621 14:15, the mark "RSI<70" was printed to tell that the relative strength index rsi14 moved downward from overbought region to below 70% level suggesting that the uptrend was exhausted. Notice that during this uptrend, the sma ribbon of gray lines above and below the red sma5 line was expanding. It started contracting again after the cc59's "+9" mark was printed. During the next 4 bars, the market makers pumped up the price to trigger those stop-buy orders. They then unload their positions heavily to end the first price rally of this newly listed stock. By the time this happened, "the nineth traders" who had taken their profits since the "+9" mark was printed were gone to find new opportunities for their hard-earned money. The Forex Insight Pro 7.0 for TradingView can be used to help in trading of both stocks and forex since printing out technical events or "stories" on the graph reminds the traders of things worth considerations. TradingView members can search for this script and request for a 7-day trial to use this script by dropping a comment in the "Forex Insight Pro 7.0" script page.
SET:DOD
by nimit.chomnawang