HSI have been ranging from 29000 and 27800 for while. This make range play possible from buying at the bottom of the range or shorting at the top. On a weekly time frame, the trend is on the downside thus it might make more sense to short at the top range then to buy at the bottom. The decision to long is purely personal preference. If you are uncomfortable with counter-trend trading, it is understandable to forgo this trade. Eventually price will breakout on either side. The argument on which side it will breakout is equally strong, thus I will not jump the gun by making any pre-assumption and unnecessarily exposing myself to additional risk. Should it break down, adhere to the Stop Loss at all cost.
Remember guys, as retail trader, survival is more important than profits. If you survive long enough, profits will come automatically ;)
If my posts have benefited you, please help out by liking my posts and following me. Do visit my Patreon page. Thank you for your support.
www.patreon.com/patreonsaint
Remember guys, as retail trader, survival is more important than profits. If you survive long enough, profits will come automatically ;)
If my posts have benefited you, please help out by liking my posts and following me. Do visit my Patreon page. Thank you for your support.
www.patreon.com/patreonsaint
Trade closed manually:
Another Trade closed within a few days! Awesome 400 points profit in less than 24 hours!!
