(+ 20%) # Vard #SGX week12 bear flag from downtrend

D1 Big Picture

Venturing into various Equities market to have more oppoturnities to hit on A Grade Price Action setup.

Vard is a SGX equity that has been on a strong downmove since 2012. It was first identified in week9.

week9 Vard w1 bearish trend 240215

D1 Bear flag setup

With the bearish trend identified , I then looked for a pullback to get entry into. There was a solid Resistance in the form of 2014 Low, that happened to cap this bear flag, hence providing a good SL level.

week9 Vard D1 bear flag 240215

D1 bulltrap trigger

The trigger came in the form of the a bearish engulfing which acted as a bulltrap.

week9 Vard D1 bearish engulfing day 270215

Outcome

3weeks later, exited at 40c for a 25% move. Verdict is that trades can definitely be held longer as I am playing for a downtrend continuation. Good identification of direction and timing overall but exit of the trade could have been better.

I believe this is the first prototype for equities trade that I am applying current forex trading principle onto equities. Although trade duration is much longer, it seems to be more stable as well. I am looking forward to have more success in CFD , so in the future I have more markets at disposal, as my edge lies not in extreme master of a particular fx pair, but rather the repeated use of trading methods based on trend, pullbacks & trigger.

Hence a plethora of markets should serve me better.

What I need to do next is to find out what happens if there are issues of counters suspension which may affect CFD trading.

week13 Vard D1 exited due to strong FOMC movement 190315

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