I will open up the chart and obviously this line is already drawn but when you first up the chart, obviously you don’t draw any lines. Without drawing any lines, you can actually start to see straight away that Singapore Telecoms, Singtel are one of the most liquid stock, highly traded stock, or high average traded value. Actually has a very nice trend.
Also these are the kind of charts or the kind of stocks that we want to look at trading from my personal angle of longer term swing trading. That’s the reason why you see I use a daily chart to actually look at the chart itself, and then once I plot in the line, thereafter I noticed that there are some very clear horizontal support resistance level, very clear horizontal support reversal kind of levels, as well as very clear trend lines and even trend channels as well.
So these are the kinds of stocks you want to keep them inside your watchlist. So this is a keeper. I’m not saying that this is the right time to trade this stock right now, but this is the kind of stock or the chart that you want to put in your watch list so that you can keep on referring and looking at it to see or notice whenever trading opportunity arise at those key levels that you have personally indicated on the chart itself. So a few more examples, for example like this, this is Genting Singapore, it’s also one of the most highly average traded stock in Singapore.
And again, this stock has very clear uptrend, downtrend, channel as well as horizontal support resistance level. Now of course I wouldn’t have the time and I’m not going to explain exactly how to look for trading setups in this particular session. So this session is going to just focus on how to filter down the list of stocks into your watchlist so that you can actually regularly look at them for trading ideas thereafter from the angle of a discretionary price action trader.
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