With the STI coming into a potential level of significance, we need to watch for the reaction.
Not the time to get greedy, regardless which direction you’re trading in.
Not for shorts since we’re into support.
Not to be greedy for longs because we could be heading into choppy conditions in the near term.
If you want to know what to do at every point in the market,
We’re hitting that 3250-70 level so watch for the reaction in this area.
Whether we bounce or continue sliding, will give us a hint of what’s to come and how to position ourselves.
OCBC is still running, be patient and folow system.
Watch for candles to turn red.
Wing Tai is holding well despite the STI continuing lower.
We react off the 2.08 previous resistance level.
This is good strength, so be patient and follow system.
So we have ComfortDelGro moving lower as well.
As mentioned in this post, $2.15 is reached just as STI is hitting the 3250-70 area, so we should be looking to take some profit.
If you believe the STI will continue sliding lower or get stuck, then wait for STI to bounce off before taking profits on your position.
Otherwise, be patient and follow system.
Sliding lower towards that $3.00 target.
As mentioned in the previous post here, watch for $3.10 where price might get stuck.
Right now we have just reacted off the $3.10 level, get ready to take some off if price stalls here.
Be patient and follow system.
Doesn’t look so good with that large move lower.
Watch for the next buy signal then evaluate if it’s worth entering.
If we clear under 1.60 again, I would be much less interested.
If you’re in already, wait for the candles to turn red for exit.
Note that this counter’s volume is getting a little low again.
Be patient and wait for the signal
If you would like to know how to which “mode” to be in at every point in the market,
Remember to take profits.
Good trading folks!