With the STI coming into a potential level of significance, we need to watch for the reaction.

Not the time to get greedy, regardless which direction you’re trading in.

Not for shorts since we’re into support.

Not to be greedy for longs because we could be heading into choppy conditions in the near term.

If you want to know what to do at every point in the market,

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STI

We’re hitting that 3250-70 level so watch for the reaction in this area.

Whether we bounce or continue sliding, will give us a hint of what’s to come and how to position ourselves.

STI testing the 3250-70 area

OCBC

OCBC is still running, be patient and folow system.

Watch for candles to turn red.

OCBC be patient and follow system

Wing Tai

Wing Tai is holding well despite the STI continuing lower.

We react off the 2.08 previous resistance level.

This is good strength, so be patient and follow system.

Wing Tai is holding well.

ComfortDelGro

So we have ComfortDelGro moving lower as well.

As mentioned in this post, $2.15 is reached just as STI is hitting the 3250-70 area, so we should be looking to take some profit.

If you believe the STI will continue sliding lower or get stuck, then wait for STI to bounce off before taking profits on your position.

Otherwise, be patient and follow system.

ComfortDelGro take some profit around 2.15

Wilmar

Sliding lower towards that $3.00 target.

As mentioned in the previous post here, watch for $3.10 where price might get stuck.

Right now we have just reacted off the $3.10 level, get ready to take some off if price stalls here.

Be patient and follow system.

Wilmar approaching the $3.10 level

Breadtalk

Doesn’t look so good with that large move lower.

Watch for the next buy signal then evaluate if it’s worth entering.

If we clear under 1.60 again, I would be much less interested.

If you’re in already, wait for the candles to turn red for exit.

Note that this counter’s volume is getting a little low again.

Breadtalk not so good under $1.60

Genting

Be patient and wait for the signal

Genting be patient and wait for signal.

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Remember to take profits.

Good trading folks!

The post 18th August STI Market Update: STI Testing The 3250-70 Area. appeared first on The Systematic Trader | Trading Courses | Collin Seow.