Market breadth is still positive, so still stay in long positions, for me 🙂
Below is a mail I send out to my clients regarding a “pseudo portfolio”…
So if we traded the STI index from 03Dec…. the current holding would be this for a 10k capital…
Its been a long long time since I have dabbled with triple screen… so here’s a try on it again. Without getting into any counters in the pseudo portfolio, this looks like a very good candidate.
Please note this is just an attempt at picking a trending counter with ths triple screen system, not a trade advisory….Im not qualified to do so anyway…
Weekly chart is uptrend, and short term moving average is up, clear.
Above is the daily chart. Stochastic and MacdHistorgam ticking up from negative, impulse red to blue (actually green as my short term moving average ticked up too…)
Price in the value zone of short term and mid term moving average.
All looks good for a entry in the next trading session upon price confirmation (trade higher tha today’s high).
Stop loss will be the immediate prior minor low at around 1.91, target around the upper price channel of 2.04
As usual, risk management and position sizing for me will be (assuming risk of $500) = $500/(entry-stop loss) = 500/(1.97-1.91) = 8,333 = 8lots