I did not complete the trade with Yanlord today but instead bought Golden Agri as it had a clearer uptrend and its day GMMA just expanding after a squeeze.
The trade will be according to this plan:
Entry: 0.57
SL: 0.52
However, the true action lies in the Chinese stocks, with Hengxin +40%, CAO +15% and China XLX +9%.
Hengxin has gone too far off, so will ignore this one. CAO however, shows a lot of promise as it broke its year high on very high volumes. China XLX is also up but it has a weaker chart than CAO.
Will I be jumping in? Not yet, as I think prices are bound to come down soon on profit-taking. Only then will I join in the fun.
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