BrendanKZN

STEINHOFF Idea

Long
JSE:SNH   STEINHOFF INT HLDGS N.V
Is STEINHOFF trying to recover? Is this the best price we will see in a long time?
Testing some price action ideas. Testing.
Wait for the new monthly pivot , watch what price does on lower time frames, be cautious.
Price can do anything.
Beware the anchor.

Comments

Amazing work! Keep it up and leave us a like aswell :)
+4 Reply
BrendanKZN DACapitalTrading
@DACapitalTrading, Thank you!
+1 Reply
Really appreciate it, thank you.
+1 Reply
Hi Brendan
Where do you see the bottom for Steinhoff
Reply
BrendanKZN GOVENDLO
@GOVENDLO, Hi there, it is a bit difficult to tell now, there is no previous price action data to find a "bottom". If you trade with price action, there would be better setups on other stocks with higher "probabilities" to trade. I would just watch this for now and see how price behaves, with the history of this stock there is no telling what it could do now. Take care.
Reply
BrendanKZN GOVENDLO
@GOVENDLO, This could have been a "shakeout" or "stoploss hunt", price will go where there is liquidity. And a new low would have found lots of it at a cheap price.
Reply
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