Ok, this is another 'do-nothing'day for SG market. There is no rewarding entry level for SIMSCI. It opened high with impressive +8 points gain,
however, it was drifting down subsequently and staying flat for the whole trading day. Here I am showing how ugly is the SIMSCI 10-min chart for the day.
4 comments:
Consider using 1 min chart and moving averages crossing (10 20 40), may identify trading better opportunity. There will not be so many chart patterns for trading within one day.
My strategy is built on 10-min for SIMSCI. I am not into 1 min scalping. Mixing around different timeframe to find opportunity does not optimize performance.
The last position I would take for this type of situation is sitting on cash. Cash is a position as well.
You might want to program alerts on certain divergences e.g. macd, rsi divergence. This should allow you to trace more markets. One thing for sure is make sure the alert programmed is stringent, or not u'll get alot of unneccessary trade calls. That way you could slide in and out of markets easily.
hi Jest,
My charting service does not allow me to program divergence. My trade setup is more than indicator divergence, that's why I have to concentrate on the real time movement. Anyway, it is a good idea to have the alert program Do you have any of them in mind? Do drop me an email to discuss.
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