I normally do not transact on a Friday, but I broke the "rules" today with SGX. The reasons?
SGX is clearly on a nice uptrend: properly lined up MAs, and it broke its year high (8.00) on heavy volume today (very reassuring sign).
Good results expected on Aug 5, giving me ample time to ride the uptrend.
Therefore, my trade as follows:
EP: 8.20
Size: 1 lot (I'm extremely careful, particularly at this late juncture)
TP: 8.88 (notice only 1 TP, I'm playing for a grab-and-snatch)
SL: 7.86
Risk-reward: 1:2
Let's enjoy the ride.
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