Sappi long and Clicks short
With the shenanigans of the past 24 hours creating a lot of volatility across the board I was initially reluctant to post these trades as the outcomes appear quite remote at face value. However, as the system has been stress tested across a range of market conditions, far be it for me to start second guessing at this point and to allow market volatility fear to prevent the pulling of the figurative trigger should potential trades be triggered tomorrow. Having said that, overall open risk should and will also be evaluated and that would be a factor for consideration pre- entering either of these positions.
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SAP: Long entry zone between R63.23 and R60.24 with a stop as a close below R57.24 and upside targets at R69.22/R75.21 and R78.21
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CLS short entry zone between R83.45 and R87.68 with a stop as a close above R91.91 and downside targets at R74.99/R66.53 and R62.30
SAP long entered at R61.73
ReplyDeleteCLS short entered at R85.57
ReplyDeleteClosed out CLS after 3LB painted green but only managed a R96.25 exit so loss was 1.7 -1 on a 12.5% price movement
ReplyDeleteAfter a month of being in the SAP position and on the brink of stopping out with opposing setups being in play, a second 3LB breakout has materialised allowing for an end of day soft stop to be brought in at R63.43 with upside targets at R71.25/R75.16 and R77.12
ReplyDeleteSAP finally closed out at R68.00 for a 1.4-1 reward-risk
ReplyDelete