Removing Indicator from Price Chart

Here's the fastest way to remove a technical indicator that is plotted on the price.

1. Point your mouse over the indicator, until your mouse pointer until the arrow on your pointer changes to a palm.

2. Right click and a dialog box will appear and then click on the first option "Delete - [indicator].

That's all. See the video demonstration below:

FOREX: EURUSD Ready for rebound?

Two days ago, the EURUSD (Euro Dollar / US Dollar) currency pair tested the 50% Fibonacci Retracement Level. Currently after 2 days at 1.5729, the price still stays above this level and a bullish move today may suggest a rally upwards. It may probably test the 1.5950 resistance level.


Daily EUR/USD Chart as at 9 July 2008 using NextVIEW Advisor

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Crude Palm Oil Futures may rebound

Looks like the Crude Palm Oil Futures FCPO traded in Bursa Malaysia is ready for a rebound.

"Malaysia cash palm oil trades at lower levels on renewed buying interest after recent fall in prices. Cash palm olein trades at $1,187.50/ton, $1,185/ton, says trader in Singapore. "Some importers consider it to be a good time to book purchases with limited downside potential," says trader in Mumbai. Cash CPO for prompt shipment offered unchanged at MYR3,470/ton." DOW JONES NEWSWIRE.

"The Crude Palm Oil futures price, traded in Bursa Malaysia has rebounded of the RM3,430 support level and today closed at RM3,515. Technically, it may rally up to test the resistance level at RM3,650 to RM3,700." Benny Lee

Below is the chart for FCPO 3rd month contract on a continuous chart, from NextVIEW Advisor:

Trading Article: Endowment Theory

Whilst trading routinely involves decision making, there are no more important decisions you have to make than when to close positions. Quite a few traders often overlook this part of trading or underestimate how important that it is. It is selling that impacts directly on whether or not you make any money trading. Buying shares is simply a means of putting yourself in a position to make money from trading.

There is a typical experiment which is conducted in Economic and similar classes, which relates well to selling shares. It involves dividing a room of people into two groups. Everybody in the first group is handed an imaginary coffee mug. People in the second group receive nothing.

Everybody in the first group is asked to write down on a piece of paper how much they would be prepared to sell their coffee mug for. Everybody in the second group is asked to write down on a piece of paper how much they would be prepared to buy the coffee mug for.

The amounts from all people within each group are compiled and an average calculated for each group. Generally speaking the average amount from the owners of the coffee mugs is double that of the average amount from the potential buyers of the coffee mugs. This observation supports the Endowment Theory.

The Endowment Theory suggests that people who own something place a greater value on it than those who do not have it. This is applicable in the sharemarket, and can affect your decision making when deciding to sell shares that you should be selling. Often you will find yourself owning shares and believing that they are worth more than what the present share price is. The only unfortunate thing about that is the real price is what it is presently trading for on the market and not what you think they should be worth.

This can affect you by convincing you not to sell shares when you may be best advised to sell them to stop any further potential loss. You may have bought shares for $4.00 and set a stop loss at $3.50 for example. A week later the shares are trading at $3.50 and you have received your cue to sell them. Thoughts enter you mind about how it was only a week ago that you paid $4.00 for them and how you think they are still worth that especially when you consider the report they released last week concerning future growth, for example.

These thoughts can paralyse you to take no action and not cut your losses and consequently have you breaking one of the most important time tested rules you can follow.

Article by Stuart McPhee

Thailand SETI: More downside for the SETI

A string of street protests against the current government has caused confidence in the equity market to be weak as well. The SETI is now back to its level where it was before the new government was formed. It is at the major support level of 734 points. The SETI closed at 743.03 on Friday. The current trend is obviously down and the momentum indicators like RSI and MACD are still indicating a strong down trend.

There are no indications of price reversal detected on the SETI as opposed to other markets. Therefore, more downside for the SETI is expected and it may test the support level of 734 points again and most probably would break below this level this time to continue the down trend. The next support level is at the psychological 700 points level. Current resistance level is at 786 points. By Benny Lee

Singapore STI: Technical Rebound expected

The Singapore market was drifting sideways with a downward bias as worries about soaring crude oil price and other commodities may lead to lack of confidence in the equities market. As of Friday, the STI closed at 2,892.54 points. The STI went to a low of 2,862.27 on Thursday and formed a Candlestick “Doji” pattern which represents uncertainty and on Friday, that pattern turned into a “morning star” which represents a price reversal. Therefore, a technical rebound is expected to happen. Furthermore, the STI is currently oversold in the short term as Stochastic is below 30 and the average price range for STI is between 3,000 points and 3,100 points.

The current trend is still down and with strong momentum. This means that the technical rebound may be small and down trend shall resume once the rally on the rebound is over. Resistance is expected to be at 3,000 points while support level, which is a major one, is at 2,750 points. By Benny Lee