We have a fresh signal from a familiar name, MM2.

Perhaps you’ll identify better with them as the organizers of the famed Avengers S.T.A.T.I.O.N. exhibition?

This counter has been on a long term uptrend since 2015 and we have seen our first major retracement!

This is exciting because it could mean another major multi-month trend move next!

Just a reminder, only a few selected TradersGPS signals here because this blog is a public medium.

Need to be fair to the TradersGPS graduate community. =)

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STI

STI is sitting right on the 3200 level now.

Not a lot to do now, be patient.

STI sitting on 3200

Wilmar

The system has kept us in this trade despite the volatility.

We’re back in profit again from our entry at $3.32

Today seems a little bullish as with the STI.

Anyway we’ve already taken partial profits on this trade previously.

Unless this counter makes a meaning full run lower, I believe exit signal will trigger soon.

Be patient and follow system.

Wilmar, looking out for exit signal.

Yanlord

Exited the remainder at the open of the next following the previous post, $1.81

So based on the average price of our 2 entries, it’s a small loss of about 4 bids or about 2%.

Risk management is a key part of trading.

I cannot emphasize how important it is to keep losses small, because we cannot be right 100% of the time.

Well managed trade everyone!

Yanlord well managed trade everyone!

Sembcorp Ind

We’re still stuck in this range.

Be patient and follow system.

Sembcorp be patient and follow system

Mandarin Oriental

Made a huge drop today, this is the benefit of taking profits where we did.

Apparently they decided not to make the sale of their Hong Kong hotel as the offers were too low.

You can read more about it on this Reuters news article here.

So our entry at $2.10, partial exit at $2.70 means a +$0.60 profit.

Now price is trading just under $2.00 so even if you exit here, the profits you took earlier would more than cover for the loss.

I will follow system and wait for the low of candle to break before exiting.

But it’s perfectly fine if you decide to exit here around $2.00 as well, that was around where the consolidation was before the run higher.

This is still a solid winner more than 10%, so congratulations everyone!

Mandarin Oriental good trade for net +10%!

MM2

Fresh Signal from MM2

This counter has been on a major uptrend.Recent few months it did a good retracement and now seems to be showing signs that it wants to continue higher.

First valid signal just came out last week and triggered just today at $0.525!

Levels to watch are $0.57 then $0.6 then $0.63 and if $0.645 goes, we could have another multi-month megatrend on our hands.

MM2 megatrend to continue?

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The post 27th Sept 2017 STI Market Update: MM2 Megatrend Ready To Continue? appeared first on The Systematic Trader | Trading Courses | Collin Seow.