Jayron's Stocks Trades 11 August 19

Disclaimer: The charts displayed are meant for educational purpose. None of the content contained here constitutes a recommendation to make any investment. I am not responsible for any loss arising from any investment based on any information contained here. Readers are expected to perform their own due diligence before venturing in any investments.


One hell of a roller coaster ride in the stock markets last week. We started off with US President Trump's tariffs. According to South China Morning Post, He threatened 10 per cent tariff on US$300 billion of Chinese goods from 1 September, blaming Beijing for not buying American farm goods. Following that, China's currency depreciated greatly and this incurred the wrath of Trump, claiming that China is manipulating its currency unfairly. More information here. The stock markets looks like it was plunging to a great recession at the start of the week but it managed to reverse and stabilise just before the week ends.


Utilising price action analysis enabled me to lead the market and identify the aforementioned stock markets decline earlier as compared to traditional lagging technical indicators or fundamental economic analysis. Last weekend, I identified that many stocks had reached a temporary top and it will be more probable that the stock market will be experiencing a decline. Click here to see the trade analysis last week.



Along the way, I've seen many people liquidate their stocks only to see their stocks reverse in their direction. This is the epitome of a bear trap. Utilising price action analysis, I have identified that many stocks are experience a bear trap and are showing a greater probability of reversing to the upside. Do note that I don't aim to predict the market. Rather I try to identify high probability trades and practice money management. I don't strive to be right 100% of the time (that's impossible). As long as I can be right 50% of the time and I predefined my profits taking point to be great than my predefined stop loss losses (i.e. Take profit at a level that is at least more than 1X the distance of my stop loss from entry), I will be able to create a positive edge and be profitable in the long run. That's the essence of trading.


Two topics are presented in this article.

  • Updates on closed trades last week (5 to 9 Aug)

  • Trading opportunities next week (12 to 16 Aug)

Last week trading results (closed from 5 to 9 Aug)

Legend

Entry price (cyan horizontal line)

Entry date (white vertical line)

Stop loss price (red horizontal line)

Take profit price (green horizontal line)

Short Stock: SRPT

Signal date: End of 19 July 19

Entry price (cyan line): $151.09

Stop loss (red line): $158.81

Take profit (green line): $135.65

Feedback: Hit trailing take profit at $130.05 (2.72R)

Short Stock: FRTA

Signal date: End of 2 August 19

Entry price (cyan line): $6.37

Stop loss (red line): $7.24

Take profit (green line): $4.63

Feedback: Hit preliminary stop loss at $6.74 (-0.43R)

Short Stock: CCRN

Signal date: End of 2 August 19

Entry price (cyan line): $9.39

Stop loss (red line): $10.25

Take profit (green line): $7.67

Feedback: Hit preliminary stop loss at $9.88 (-0.59R)


This week's trading opportunities identified

(To enter on 12 August 2019)

Stocks to go long: NXST, ADSK, FBP, FLIR, GGB, PWR (Charts attached below)

Stocks to go short: None


How quickly the situation reversed completely since last week. Last week, all of the identified stock opportunities were pointing bearish. Now it's all bullish! Anyway, this week's bear trap is really obvious and plenty of stocks are presenting the same conditions. I am leaning towards going long. If you are looking to invest in any stocks, I believe this is really a good time to go long (discretion advised).

Legend

Entry price (cyan horizontal line)

Entry date (white vertical line)

Stop loss price (red horizontal line)

Take profit price (green horizontal line)







Wishing you and your family a happy long weekend and holidays and may the markets be with you. Thanks for viewing.

If you wish to see more similar trades done in the past weeks, click here.

To connect with me via Facebook, click here.

Call to Action Gimmick! XD

If you are reading our content, we will like to CONNECT with you.

We believe in networking with people of the same growth mindset and exchanging knowledge on wealth and resources will save a lot of time!

Join our Facebook Group below! #No Hard Sell

  • Facebook
  • Black Facebook Icon
  • Black Instagram Icon
  • logo-large_edited_edited
  • Black LinkedIn Icon
  • Black YouTube Icon

© 2020 by Jayron Ong