Kumba and the Top 40

Today's trading action has seen the development of 2 potential long setups on an end of day 3LB system which we've been developing. The systems rules have been uploaded here . The setups are as follows:

Kumba

Entry would be to go long on Kumba at a break of the previous day's high around the R93.60 level with an end of day stop below R88.52. We are targeting a move back to R108.84 which would yield a 3-1 reward-risk on the trade but will also look to ratchet up the stop as the trade moves into profit.


T40

Entry would be to go long on the T40 at a break of the previous day's high around the 44,848 level with an end of day stop below 43,869. We are targeting a move back to 47,166 which would yield a 2-1 reward-risk on the trade but will also look to ratchet up the stop as the trade moves into profit.