STI – Ranging Near Key 3000 Level

 

The Straits Times Index has spent the last 2 weeks trickling downwards to test the 3,000 level after its previous breakout, and is now hovering around that level. Since the US markets are also hovering their key levels, we will most likely be waiting for their cue. To trade this range, I would buy near the green line and sell near the red line. In the mean time, trading is slow and the daily range is extremely small, hence I will be focusing on other markets for the time being. This is why it is important to have a playbook of various setups that enable you to trade different markets under different market scenarios.

Cheers
Spencer
https://www.facebook.com/iamrecneps
https://www.instagram.com/iamrecneps

Free Download: 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, Bitcoin, etc), with just 15 minutes a day.

Spencer Li is a trader, investor & entrepreneur who achieved financial freedom at 27 (2013), having to date accumulated a diversified portfolio of properties, stocks, REITs, and 10+ businesses across different industries. As a professional trader, he has over 10 years of market experience, and has been featured on more than 20 occasions in the media.

Join our new FREE facebook discussion group!

Join our community of 6,000+ traders in this fast-growing facebook group on forex and cryptocurrencies. Receive free education and signals, and take the chance to ask us any questions!

1 reply

Trackbacks & Pingbacks

  1. […] my previous post here, the market has surged up to the red line on the back of QE3. Now, the time has come to take a step […]

Leave a Reply

Want to join the discussion?
Feel free to contribute!

Leave a Reply