Those who believe SET has entered phase 4, then the direction is down south. I am ready to follow the pennant flag pattern, with a target of 1230-ish, and that number coincides with the bottom of, what I call, the "covid-panic-island" which should offer some suppport so could be a good place to lock in some profits.
Trade active
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Trade triggered well, even though SET stopped at and gapped up from the long-term support and resistance (1315 area), I still feel confident in this bearish trade and that the parabolic run will at least fall back and test FIB.50 (at the target area). I will wait until it has cleared 1315, before I move my stop-loss to protect my trade.
Was triggered today. I hope we get past the resistance and support’s on the way to our target. Forgot to put out my stop-loss but its over the pennant and just over the gravestone doji's (5th of March) open, so at 1393
By the way, my bullish setup was also triggered today so they will work as a hedge, between themselves. Remember, do your best to lose small!
SamuiTrader
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I have also posted a bullish way of looking at it, if you're more on that side for the future of SET. That setup is a Buy the Dip, while this one is more to play the breakout.
By the way, my bullish setup was also triggered today so they will work as a hedge, between themselves. Remember, do your best to lose small!