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.

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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.

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