It’s time for our Monthly Update again!
From the previous update, I would like to congratulate all those who took up short positions following the 10th June update and profited from Brexit along the way.
The pullback did occur, followed by Brexit.
What is going to happen next?
STI has broken out of the descending channel and is in consolidation. It has reached a critical zone. More often than not, STI will burst out in either direction following a period of consolidation.
- I would love to see an attempted breakout followed by a correction.
- A pullback to occur.
For SG, I will adopt a wait-and-see approach and see which direction it breaks after consolidation. Waiting is part of the trading strategy.
DJI and S&P
Both charts are similar and congratulations to those who shorted from my previous update with a trailing stop.
From the charts, you can see that both Dow Jones and S&P were moving sideways and went into a narrower sideways movement. – which is why I have taken quite a few US long positions upon the 2nd pullback. You can view my portfolio below.
What is going to happen next?
Going forward, you can either,
- Short upon the next pullback – for a shorter time-frame
- Long after the next pullback, followed by a bullish candle.
Those who have any questions or need any help, feel free to leave me a comment. Cheers!
Stock Portfolio on $10k Challenge
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