First Resources – time to take profits at the end of the markup phase | Technical Analysis | Singapore Stocks

A climatic move up will exhaust demand for the moment, meaning that it is time to get out until further price action gives a new buy signal. It is also unlikely to break through the strong psychological resistance on its first try, hence a quite short swing trade may be attempted, since risk is limited if a stop is placed at that level. With a lower close on a doji pattern which is also an evening star, it is starting its decline.

Get Started: Trading Foundation Workshop

Get instant access to this exclusive 2-hour online video tutorial series -
If you are new to trading or are struggling to get consistent results, this workshop will show you how any trader can make consistent & stress-free monthly profits on any market (stocks, forex, crypto, etc) with just 15 minutes a day.

Spencer Li is a trader, investor and entrepreneur who currently manages his own portfolio of stocks, REITs, currencies, cryptocurrencies, properties, and 10+ businesses across different industries, while providing consultancy services to individuals & corporations. As a former professional in private equity and proprietary funds, he has over 10 years of market experience, and has been featured on more than 20 occasions in the media.

0 replies

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply