Support/Resistance complement with trendlines

Lets take BIMB as as example. I did mention about her on 18/Dec , http://reiccs.blogspot.com/2011/12/momentum-play-bimb.html
That day, I was entering at 1.94 which is a bit late base on resistant breakout play. I did mention I saw her later, based on Technical landscape which is still positive, I decided is still okay to enter.

Based on the chart, one should enter at 1.86 as she has broken a resistance, 20MA & 200MA, with all those MACD & Stochastic giving bullish signals. Today my post objective is about when to P . In my previous post I mention P should be around 2.07~2.09. Well, in 7 days time she did reached 2.07, so I have sold based on my plan. That time when I do this plan I just intend to make a short term MP. But if one to have more PATIENCE (an important factor for Share Trading), you can go for TREND CHANNEL strategies. Let see below chart.

I have sold on 3 Jan base on my trading plan (P at 2.07~2.09). In the above chart, I draw the trend channel which project the price will reach 2.28 at the upper trendlines. Indeed, she manage to climb till 2.28 and started retrace after this.

Further extension of the chart shown above, she again manage to push further after retracing to lower bollinger band and touch again the upper TRENDLINE which give a good 11% return at 2.40. So, the next questions is, will she retrace to lower band and climb one more time or this time she will retraces to the LOWER TRENDLINES around


 So, my story here is that no one strategies is the best or 100% correct, one must choose his or her best suited strategies & trading plan to trade and do not regret . Bottom line is PROFIT in most of our trade and my objectives is to be better than or at least on par with the best unit trust returns.