Friday, March 18, 2016

Example of using Fibonacci calculator in PTTEP weekly investment.

In this post, I have an example of using online [ Fibonacci calculator ] (bookmark the page for your own usage) along with a weekly chart to invest in PTTEP.

In July 2015, PTTEP had moved sideways-down for a while with a zig-zag pattern of a-b-c at 124.00-105.50-115.00 THB. At point c, 5-day simple moving average line had already crossed down that of 10 days suggesting more bearish downtrend. Two weeks later, the price broke down below point b at 105.50 THB. This confirmed further downtrend. At the open of following week, you could sell short some PTTEP shares for 105.00 THB. If you checked with the online [ Fibonacci calculator ] for the downtrend targets, you would see the numbers as in the table below.

The calculator showed a standard Fibonacci target of 161.8% at 85.07 THB. So you set a take-profit order in advance at 85.07 THB. After 6 weeks, your PTTEP shares would have been bought back to close the short position with a profit of 23.43%.

Simple is beautiful. Keep looking for an opportunity like the example in this post. Do your homework! Too busy or lazy to do homework ? [Let the manager helps you.]

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