Trading homework before taking trading action for Singapore market.
Weekly outlook: eg UOB
Ranging, but currently sitting in the middle of range (no man’s land).
Daily outlook: eg UOB
Pattern to note:
– Previously, UOB rallied from its dip, but prices stalled for a while and dipped again. (Referred to red squared zone)
– Presently, UOB rallied from its dip, but prices been stalling. Will it repeat such pattern?
I favour a dip because on 3 Nov weekly homework, i expected UOB to spike first then dip in view of its earnings. But after its earnings, it did spike, but failed to follow through to establish a break out from its tight range (as shown on charts below). In any case, it has reached the end point of the triangle. Judgement day should be near. Let’s see if pattern repeats itself. If it doesn’t be sure to reverse decision in an instance. Pattern failure are money making opportunities too.
Cheers
Strongerhead ways to becoming a better trader
NOTE: All information provided “as is” for informational purposes only, not intended for trading purposes or advice.
