Monday, 16 November 2015

[Bullish Setup] - Yangzijiang Shipbuilding (SGX: BS6)

I have been watching this ticker for quite some time after I exited my position. There seems to be a long opportunity and I will be watching it closely today.

Entry: $1.165
Stop Loss: $1.12
Take Profit: $1.23

RRR: 1.55

Always remember to give the market some time to adjust itself and not to jump in right as the market opens because there is a potential that your entry might be triggered not by actual shift in momentum, but by marginal investors adjusting their position.

As always, happy trading.


Thursday, 12 November 2015

[Bearish Setup] - WPX Energy (NYSE: WPX)

Entered a short position for WPX Energy yesterday.

Entry: $8.47
Stop Loss: $9.37
Take Profit: $6.68

RRR: 2

I entered this trade because of the indecision of the market the the past couple of days and judging from the volume, it shows the loss of momentum of the uptrend. My profit taking level is based on the prior resistance level.

As always, happy trading.