Trading with Trend
Let's continue with the topic on trading with the trend.
First hour trading for SiMSCI (SiMSCI open at 8:30am Singapore time). Market open above Pink & Purple belt. Trend is up.
First buy signal appear at 8:47am, and it start to trend all the way up to PAPLine-R2. That is 42 tics profit if you use PAPLines as your profit exit.
As you can see from the chart, price starts to reject and turn Autumn at PAPLine-R2. It's a great place for intraday trader to cover their profit.
Same goes to Taiwan Futures. Price above purple belt, trend is UP.
In today's Taiwan trading plan, wait for it to retrace back to support zone, PAPLine-S1 & S2. Profit take at PAPLines R1 or R2.
What about Nikkei 225?
Price hold at pink belt, a hammer formed. traded up to first PAPLine for you to take profit.
Some of our regular FB traders are doing well this morning by following this simple setup and posting their winning trades too.