Saturday, February 20, 2010

Straits Asia again

This trade has been quite stressful:
  • My broker called me yesterday to suggest that critical support was at 2.03 (200 EMA) several hours before it bounced off from there... She suggested I buy more but I didn't because don't want to risk any more on one trade.
  • She said critical resistance is around 2.25, which is the 50MA and the blue trendline (connecting head and shoulder).

In hindsight, maybe I should have waited for the trend to be clearer before buying both for:
  • the overall market, and
  • to break the head/right-shoulder trend line. Or at least a HHHL.

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