Conditions at entry: A general uptrend direction. Support was moving up after a retracement in Oct 09. Volume is good and consistent. Entered after price broke the second peak after the retracement at a price of S$2.72.
Trade exited at S$2.62 after it broke the support.
Trade details:
| Counter: | Olam |
| Trade: | Long |
| Method: | S1 |
| Date of Entry: | 26/11/09 |
| Entry Price: | 2.72 |
| No. of shares traded | 1,000 |
| Exit Price: | 2.61 |
| Exit Time: | 10/12/09 |
| Reason for Exiting the Trade: | Break Trough |
| Profit / Loss: | -S$110 |
You may also like:
- USDCHF (short) – closed on 4 Dec 09
- USDCAD (short) – closed on 8 Dec 09
- Recording your trades
- Trading Report Card – Nov 09
- Trading Report Card – Aug 09
- Trading Report Card – Apr 09
- Trading Report Card – Oct 09
- Trading Report Card – Sep 09
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{ 4 comments… read them below or add one }
A resistance is formed at the 2.85 region, created on 20 oct. An alternative strategy would be perhaps to take profit at this region, given current volatile market conditions?
Just sharing a trading idea.
Regards
Ed
A resistance is formed at the 2.85 region, created on 20 oct. An alternative strategy would be perhaps to take profit at this region, given current volatile market conditions?
Just sharing a trading idea.
Regards
Ed
Thanks Ed for sharing. Indeed, it was not able to break the resistance at 2.85. However, at this point in time I prefer to follow the rules of the system, which does not suggest to profit take at 2.85.
Thanks Ed for sharing. Indeed, it was not able to break the resistance at 2.85. However, at this point in time I prefer to follow the rules of the system, which does not suggest to profit take at 2.85.
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