Midas Triangle Breakout , next resistance 1.26 Time for triangle to build up about 4months.

Trendline sloping up, moving average 20 above 40. CCI is high (Overbought) but this is a breakout trade.

Fibonacci numbers are a sequence of numbers in which each successive number is the sum of the two previous numbers:

     1, 1, 2, 3, 5, 8, 13, 21, 34, 55, 89, 144, 233, 377, 610, etc.

These numbers possess an intriguing number of interrelationships, such as the fact that any given number is approximately 1.618 times the preceding number and any given number is approximately 0.618 times the following number.

Fibonacci Projection lines are used to predict potential levels of resistance and support. A minimum of three horizontal lines are drawn showing the projection levels in the market after a consolidation or retracement.

To calculate the Fibonacci Projection levels, you must identify three specific points in a market move:

    A, the beginning of a move up or down, B and C.

    In an uptrend, B is the highest point after A and
C is the lowest point after B.

    In a downtrend, B is the lowest point after A, and
C the highest point after B.

The total market move between A and B is then calculated, and the levels of the lines are then set according to three different ratio figures, using C as a starting level.

STI have a over-extended run which I have been bullish since 20th July. For now , I think it is time to more cautious. Most of the time the market will NOT over-extend beyond 261% before a pull back. This is however , just my personal view.  

You can click on chart to enlarge it . ( Jakarta Composite Index)

How CSI work on ALL index

You need 3 signal to go long

Green Ribbon (at the base)

Blue Candlestick

Buy arrow.

To take profit for long , just wait for color of candle to change from blue to red.

For Short , the signal is

Red Ribbon

Red Candlestick

Red Arrow

The signal to cover you short position is when the candlestick change color from blue to red.

This is main essense of the CSI trading system.

There are other rules like trailing stop loss and re-entry to further enhance the returns.

STI breaking the uptrend line , watch closely.