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DASAR ANALISA TEHNIKAL

23.50 |


                                                                           
Prinsip-prinsip di dalam Analisis Tehnikal bermula dari pengamatan di pasar finansial selama beberapa ratus tahun yang lalu. Petunjuk tertua tentang Analisis Tehnikal didapat dari catatan Joseph de la Vega saat mengamati pasar financial Di Belanda pada abad ke 17. Di Asia contoh Analisis Tehnikal tertua dapat dilihat dari Candlestick, yang berawal dan dikembangkan oleh Homma Munehisa pada awal abad ke 18. Analisis Tehnikal modern berpijak pada Dow Theory, yang dibuat berdasarkan tulisan Charles Dow. Tulisan-tulisannya tersebut menjadi inspirasi penggunaan dan pengembangan Analisis Tehnikal mulai dari akhir abad ke 19. Ahli Analisis Tehnikal yang lain adalah Ralph Nelson Elliot dan Williem Delbert Gann yang mengembangkan tehniknya sendiri pada awal abad ke 20.
                                                                            
Charles Dow -an American journalist who co-fou...
Charles Dow -an American journalist who co-founded Dow Jones & Company with Edward Jones and Charles Bergstresser. (Photo credit: Wikipedia)

Analisis Tehnikal modern berkembang dari prinsip-prinsip tertentu yang berlaku secara umum. Prinsip-prinsip ini berasal dari Dow Theory. Di Tahun 1897, Charles Dow mengembangkan dua market averages ( semacam indeks saham ), yaitu " Industrial Average " yang memiliki 12 saham blue-chip dan " Railroad Average " yang terdiri dari 20 perusahaan kereta api. Sekarang keduanya dikenal sebagai Dow Jones Industrial Average dan Dow Jones Transportation AverageDow Theory awalnya hanya digunakan sebagai barometer untuk mengetahui kondisi bisnis secara umum, tidak digunakan untuk memprediksi harga saham. Namun sekarang menjadi prinsip umum yang diyakini oleh para analis tehnikal modern. Dan akhirnya pengembangan Analisis Tehnikal masa kini menggunakan teori ini sebagai dasar.

Dow Theory memiliki 6 asumsi penting yaitu :

1. Market Action Discounts Everything.
Harga saham merefleksikan semua informasi yang ada padanya.
Dan ketika ada informasi baru, pelaku pasar dengan cepat menerjemahkan informasi dalam bentuk penyesuaian harga. Dengan demikian secara umum, pasar mendiskon dan merefleksikan semua informasi yg dimiliki oleh para pelaku pasar.

2. The Market Is Comprised of Three Trends.
Ada 3 trends yang berlaku di pasar, yaitu Primary Trend, Secondary Trend dan Minor Trend. Di dalam Primary Trend, pasar bisa bergerak naik (bullish) atau turun (bearish) dan biasanya berlangsung lebih dari 1 tahun sampai beberapa tahun. Secondary Trend adalah koreksi terhadap Primary Trend, dan biasa berlangsung selama 1 sampai 3 bulan. Dan Minor Trend adalah pergerakan harga dakam jangka pendek yang berlangsung dalam 1 hari sampai 3 minggu. Secondary Trend dapat dibilang terdiri dari beberapa Minor Trend. Dow Theory mengatakan bahwa Primary Trend dan Secondary Trend tidak bisa dimanipulasi. Tetapi Minor Trend memiliki kemungkinan dimanipulasi (misalnya harga digerakkan oleh institusi besar), karena itu Minor Trend bisa memberikan petunjuk yang salah.

3. Primary Trends Have Three phases.
Dow Theory mengatakan bahwa Primary Trend mempunyai 3 fase. Fase pertama terjadi saat investor tertentu melakukan pembelian secara masif untuk mengantisipasi pemulihan ekonomi dan pertumbuhan jangka panjang. Kebanyakan investor masih merasakan fase ini sebagai muram. Hanya investor tertentu yang melakukan pembelian karena memiliki keyakinan tersendiri. Fase kedua ditandai dengan meningkatnya pendapatan perusahaan dan meningkatnya kondisi ekonomi, investor mulai mengakumulasi saham. Fase ketiga ditandai dengan pendapatan perusahaan yang mencapai puncak dan kondisi ekonomi makro yang sangat baik, investor retail mulai merasa aman untuk berpartisipasi dalam investasi saham. Mereka yakin bahwa saham akan bisa tumbuh lebih tinggi, sehingga mereka membeli lebih banyak saham. Saat itu terjadi eforia saham, dimana investor publik membeli saham jauh lebih banyak lagi. Dan di fase ini, investor yang melakukan pembelian saham di fase pertama mulai menjual sahamnya untuk mengantisipasi penurunan harga sahamnya.

4. The Averages Must Confirm Each Other.
Harga indeks saham ( Industrial Average dan Transportation Average ) harus saling mengkonfirmasi supaya trend yang valid terjadi. Kedua average harus melebihi puncak Secondary Trend sebelumnya, supaya trend bisa dikonfirmasi.

5. The Volume Confirms the Trend.
Dow Theory terfokus pada pergerakan harga. Volume hanya digunakan untuk mengkonfirmasi situasi yang tidak pasti. Volume harus meningkat sesuai pergerakan Primary Trend. Jika Primary Trend bersifat turun, volume harus meningkat saat pasar jatuh. Dan sebaliknya jika Primary Trend bersifat naik, maka volume harus meningkat saat pasar bergerak naik. 

6. A Trend Remains Intact Until It Gives A Definite Reversal Signal.
Uptrend ditunjukkan oleh serangkaian pergerakan harga yang berhasil mencapai puncak lebih tinggi. Dan supaya terjadi pembalikan arah, maka harga harus setidaknya gagal  mencapai kembali puncak yang sudah terjadi sebelumnya ( terbentuk lower high ), lalu terjadi penurunan yang lebih dalam dari koreksi sebelumnya ( terbentuk lower low ). Ketika pembalikan arah di Primary Trend ditunjukkan bersama-sama oleh Industrial Average dan Transportation Average, kemungkinan terjadinya pembalikan arah dan berlanjut ke trend tersebut semakin besar. Bagaimanapun, jika semakin lama suatu trend berlangsung, maka kemungkinan trend tersebut berlanjut semakin kecil.

Prinsip-prinsip didalam Dow Theory diatas memang awalnya diperuntukkan ke pasar saham. Tetapi secara umum dapat diaplikasikan ke instrumen financial yang lain. Dapat disimpulkan bahwa Analis Tehnikal meyakini bahwa harga bergerak dalam pola tertentu, sehingga dapat dipergunakan untuk memprediksi pergerakan harga berikutnya.
Dan selalu ada yang pro dan kontra, maka ada yang berpendapat bahwa pergerakan harga instrumen finansial tidak mengikuti pola tertentu. Pendapat ini dianut oleh Random Walk Theory. Menurut ahli yang mendukung pendapat ini, bahwa harga bergerak tanpa dapat diprediksi. Sehingga memprediksi suatu pergerakan harga instrumen finansial merupakan suatu kegiatan yang sia-sia .

Referensi dari Buku :
Japanese Candlestick Charting Techniques, second edition, Steve Nison
Forex Shockwave Analysis, James L.Bickford
Forex Wave Theory, James L.Bickford

Sekian.
MOH EFFENDI__TRADER DI MAXCO FUTURES.



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BEAR VS BULL. What Next For GOLD

02.15 |



Prediksi EURUSD 11.04.2017

07.05 |

BUY DI $.1,05920, STOPLOSS $.1,05500 DAN TAKE PROFIT $.1,07000





GOOD LUCK

Prediksi Gold 11 April 2017

06.57 |

BUY LIMIT DI $.1240.00, STOPLOSS $.1230.00 DAN TAKE PROFIT $.1280.00





GOOD LUCK


COT Gold, Silver and US Dollar Index Report - April 7, 2017

22.04 |



COT Gold, Silver and US Dollar Index Report - April 7, 2017



Published: Friday, 7 April 2017. 
Gold COT Report - Futures
Large Speculators
Commercial
Total
Long
Short
Spreading
Long
Short
Long
Short
239,061
83,625
49,043
96,115
267,131
384,219
399,799
Change from Prior Reporting Period
11,222
-6,394
-25,762
-8,645
10,257
-23,185
-21,899
Traders
168
87
78
45
52
246
186


Small Speculators




Long
Short
Open Interest



43,589
28,009
427,808



1,575
289
-21,610



non reportable positions
Change from the previous reporting period

COT Gold Report - Positions as of
Tuesday, April 04, 2017

Gold COT Report - Futures & Options Combined
Large Speculators
Commercial
Total
Long
Short
Spreading
Long
Short
Long
Short
241,650
80,467
161,559
177,186
354,401
580,395
596,427
Change from Prior Reporting Period
10,350
-6,945
-23,829
-7,705
9,011
-21,184
-21,763
Traders
194
102
146
51
56
305
246


Small Speculators




Long
Short
Open Interest



47,659
31,627
628,054



3,932
4,512
-17,252



non reportable positions
Change from the previous reporting period

COT Gold Report - Positions as of
Tuesday, April 04, 2017

Silver COT Report: Futures
Large Speculators
Commercial
Long
Short
Spreading
Long
Short
126,524
25,142
21,540
47,639
159,985
14,327
3,633
2,694
-488
10,091
Traders
100
44
45
28
37
Small Speculators
Open Interest
Total
Long
Short
219,160
Long
Short
23,457
12,493
195,703
206,667
798
913
17,331
16,533
16,418
non reportable positions
Positions as of:
149
112
 COT Silver Report
Tuesday, April 04, 2017
 

Silver COT Report: Futures & Options Combined
Large Speculators
Commercial
Long
Short
Spreading
Long
Short
126,698
24,229
32,139
52,623
166,567
14,383
3,364
2,953
-724
10,302
Traders
114
48
73
33
41
Small Speculators
Open Interest
Total
Long
Short
236,784
Long
Short
25,324
13,850
211,460
222,934
1,079
1,072
17,691
16,612
16,620
non reportable positions
Positions as of:
177
138
 COT Silver Report
Tuesday, April 04, 2017
 

US Dollar Index COT Report - Futures
Large Speculators
Commercial
Total
Long
Short
Spreading
Long
Short
Long
Short
48,816
5,857
1,836
10,643
59,014
61,295
66,707
-4,096
-2,779
124
-1,346
-2,827
-5,318
-5,482
Traders
90
25
17
11
7
110
44

Small Speculators




Long
Short
Open Interest



8,044
2,632
69,339



7
171
-5,311



non reportable positions
Change from the previous reporting period

COT US Dollar Index Report - Positions as of
Tuesday, April 04, 2017

US Dollar Index COT Report - Futures & Options Combined
Large Speculators
Commercial
Total
Long
Short
Spreading
Long
Short
Long
Short
48,839
5,925
2,005
10,674
59,033
61,518
66,963
-4,037
-2,722
85
-1,343
-2,827
-5,296
-5,465
Traders
93
26
22
12
8
116
49

Small Speculators




Long
Short
Open Interest



8,104
2,659
69,622



2
172
-5,293



non reportable positions
Change from the previous reporting period

COT US Dollar Index Report - Positions as of
Tuesday, April 04, 2017
  
The COT reports which we look at each week provide a breakdown of each Tuesday's open interest for markets in which 20 or more traders hold positions equal to or above the reporting levels established by the CFTC.   The weekly reports for Futures-and-Options-Combined Commitments of Traders are released every Friday at 3:30 p.m. Eastern time.   The short report shows open interest separately by reportable and Non-reportable positions.   For reportable positions, additional data is provided for commercial and non-commercial holdings, spreading, changes from the previous report.

Futures and Options Combined
What does this title mean?   A future is a standardized contract traded through regulated exchanges where an investor buys or sells a contract at a specified price for a specific date in the future.   The price includes the interest charge due to the seller by the buyer from the date of the contract to the due date.   An option is the ‘right to buy or sell’ a contract at a fixed date in the future at a specific [strike] price.   The difference is that a futures contract is an agreement to buy or sell, whereas an option gives the holder the right to buy or sell.   An option holder can decide not to take up that right and will only lose the cost of buying the option.   His loss is therefore definable at the start of his investment, while the potential profit has not limit to it.   A futures contract is usually leveraged [a loan provided] up to 90% of the contract.   However, with the owner liable to top up his ‘margin’ to maintain this 10% his potential losses can rise far higher than his investment.  A ‘long’ [buying] contract limits its loss to the full price of the item, whereas the ‘short’ [selling] contract has no limit except the height that the price of the item can rise to.

The Commitment of Traders report [COT] is therefore a report on the overall position of the Commodity Exchange [COMEX or NYMEX].

Large & Small Speculators
The word “speculator” implies that the person is simply making a bet on the way he thinks the price of the item is going to move.   In essence, he is a gambler.   A trader might be this, but then again he might be an Arbitrageur, buying in one market and selling in another to capture the price difference between the two.   He wants to deal as fast as possible so as to minimize his risk of a price movement while he is exposed.   We would not put him in the same category as a speculator.

Contract
One contract is 100 ounces of gold, or 5,000 ounces silver.   The numbers referred to above are therefore the number of contracts in that position.   The net long speculative position is found by adding the large and small speculators bought contracts and deducting the large and small speculators sold contracts.   We work on there being 32,150 ounces in a tonne.

Buy [Long]
A long position is where an investor, trader, speculator buys 100 ounces x the number of contracts.     

Sell [Short]
A short position is where an investor, trader, speculator sells 100 ounces x the number contracts.

Spreading
For the options-and-futures-combined report, spreading measures the extent to which each non-commercial trader holds equal combined-long and combined-short positions. For example, if a non-commercial trader in Gold futures holds 2,000 long contracts and 1,500 short contracts, 500 contracts will appear in the "Long" category and 1,500 contracts will appear in the "Spreading" category.

Open Interest
Open interest is the total of all futures and/or option contracts entered into and not yet offset by a transaction, by delivery, by exercise, etc. The aggregate of all long open interest is equal to the aggregate of all short open interest.

Reportable Positions
Clearing members, futures commission merchants, and foreign brokers (collectively called "reporting firms") file daily reports with the Commission. Those reports show the futures and option positions of traders that hold positions above specific reporting levels set by CFTC regulations.

Commercial and Non-commercial Traders
When an individual reportable trader is identified to the Commodities Futures Trading Commission, the trader is classified either as "commercial" or "non-commercial." All of a trader's reported futures positions in a commodity are classified as commercial if the trader uses futures contracts in that particular commodity for hedging as defined in the Commission's regulations (1.3(z)).

Non-reportable Positions
The long and short open interest shown as "Non-reportable Positions" are derived by subtracting total long and short "Reportable Positions" from the total open interest. Accordingly, for "Non-reportable Positions," the number of traders involved and the commercial/non-commercial classification of each trader are unknown.

Changes in Commitments from Previous Reports
Changes represent the differences between the data for the current report date and the data published in the previous report.

Number of Traders
To determine the total number of reportable traders in a market, a trader is counted only once regardless whether the trader appears in more than one category (non-commercial traders may be long or short only and may be spreading; commercial traders may be long and short). To determine the number of traders in each category, however, a trader is counted in each category in which the trader holds a position. Therefore, the sum of the numbers of traders in each category will often exceed the "Total" number of traders in that market.