vssebuyungo

Chinese Stocks Are Moving Up!

Long
NYSE:TME   Tencent Music Entertainment Group
Watch BIDU TME CWEB BABA NTES PDD . Most are breaking out
Scoop up some strong ones!!

Reasoning
  • Whole Industry is moving!
  • Use strong bars to draw trendlines, most times spikes should be left out!
  • Consolidation seems done
  • Correction is not overextended
  • Good Relative Strength
  • Great earnings
  • RSI tested bullish range multiple times
  • Multiple Bullish Days
  • Always try to use 2 timeframes

My Would Be Trade Plan
  • - Risk about 1.5ATR and aim to ride up to 4.5ATR (1:3)
  • - Raise stop once Trade moves 2ATR in your direction
  • - Add on new highs after a pullback. (Then raise stop to keep original risk and also do not modify the target price)

Main Sources of My Knowledge
  • Mark Minervini
  • Constance Brown
  • William O'neil
  • Speakers on Trader Lion Youtube
  • Adam Khoo

My Indicators

14 Period RSI.
  • 9SMA and 45EMA Moving Averages added

Composite by Constance Brown
  • This is for catching failures in the RSI.
  • The RSI is a bounded indicator so sometimes fails to catch divergences. This indicator helps show that
  • Composite Settings
  • Author : Constance Brown (Connie Brown)
  • RSI Length : 14
  • RSI Momentum Length : 9
  • SMA Length : 3
  • Fast Simple Moving Average : 13
  • Slow Exponential Moving Average : 33

Disclaimer

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