- I wanted to enter on the 24 Sep, but was apprehensive as price was not near the resistance line.
- On the 25 Sep just around the open at 9.30am I realise that the price was near the resistance line and so I entered.
- I wonder if I should have waited till 11am where the market open rush would have normalised.
- I think price will go down because of the divergence in ADL & Price. Which means that price (11 Sep - 21 Sep) was moving up despite there being more sellers.
- It also seems like a good point as it is testing a previous support that is the 0.7 Fib.
- RSI is not overbought territory.
- This upside divergence in my POV is probably short term as it was driven by last week's easing sentiment towards the trade wars.
- I have moved my trade SL to 161.501 which means I book in a 1.2k profit if price hits my SL
- I entered a second trade at 154.989 with the same number of units as the first but with a SL of 1.2k. If price hits this SL, it would mean I net out with my profit from trade 1.
- However if price breaks 152.82 (current support) I see it going lower
- This aligns with the negative sentiment of CN stocks due to the current CN hacking through the server micro chips. I think Trump might attempt to strike back as it impacts his image as we head into the mid terms.
- Moved my SL for trade 1 and 2 to 158
- Entered a 3rd trade with a SL of 158, but to ensure a similar risk to my 2nd trade, I have sold only a 100units
- Overall with all 3 trades combined I am currently freerolling with no risk and a small $300 profit
- All Trade SL have been moved to 158.82. If price reaches here it would be a clear reversal.
- I am now freerolling with profit. yay!
President Xi Jinping vowed "unwavering" support for non-state firms, while the country's stock exchanges committed to help manage share-pledge risks. China also released its widely-expected plan to cut personal income taxes after data showed the nation's economy grew at the slowest pace since 2009.