What a start to year 2024. If you referred to my previous post, I entered
PFE
at USD28.79 after a bullish ice cream weekly candle was formed at key support level.
On 2nd January 2024, when the whole market tanked,
PFE
moved up 5% in a day, I was hoping for a higher gain over a longer run but I would prefer to bag 5% gain instead.
Moving on to my second trade of the year, $ORCL. Honestly this is more like a bet trade instead, setup is not too perfect to risk but since the price is testing weekly 50SMA I would expect it to bounce up by 5-10% in 1-2 weeks time. My setup is as follows:
Entry: 102.95
TP: 108 - 114
SL: 99.22
Risk-Reward is not too great but time will tell if my instinct is right.
PFE
at USD28.79 after a bullish ice cream weekly candle was formed at key support level. On 2nd January 2024, when the whole market tanked,
PFE
moved up 5% in a day, I was hoping for a higher gain over a longer run but I would prefer to bag 5% gain instead. Moving on to my second trade of the year, $ORCL. Honestly this is more like a bet trade instead, setup is not too perfect to risk but since the price is testing weekly 50SMA I would expect it to bounce up by 5-10% in 1-2 weeks time. My setup is as follows:
Entry: 102.95
TP: 108 - 114
SL: 99.22
Risk-Reward is not too great but time will tell if my instinct is right.