PCOR continues to be strong despite a weak PSEi. PCOR first gave a buy signal Nov 23 which I didn't follow, unfortunately. So I waited for a second buy setup. Today it gave its third buy signal after breaking a bull flag. I'll continue to hold and trail my stops. One big lesson again for me is to always follow my signals. I don't know what's with me but when I follow a certain signal, that is when I get a whipsaw. And then the signal that I didn't follow, is the one doing a strong trend! :( ICT also continues to trend in the short term so I nibbled some this week. Looks like it is good to accumulate around the 41.50 to 42 area.
Meanwhile, PX is also trending up in the short term and is consolidating in a Darvas Box. My plan is to add more if 15 is broken. As always, nothing beats good money management in this kind of market.
4 comments:
Hello Harley,
Great analysis. I would agree on these maybe except of ICT I might be bullish on this once it breaks 46 convincingly. I have noticed some movements on WEB and BEL since i think they are also candidates to reach higher levels. Any thoughts on these?
Thanks
Hello FI, agree if ICT breaks 46 then we are back on unchartered territory.
Not really following WEB. If I were holding WEB, I'll just hold and increase my stop just below 15.
I used to trade BEL but I was whipsawed a lot of times. :( 4 is the resistance so I say buy more if 4 is broken with volume and I'll put my stop just below 3.5. :)
Please always trade with caution.
Shux. I sold PCOR yesterday. Hindi ko nabuy back today like planned kasi I didn't watch the market for most of the trading day. Ung last 30 mins lang. Hahaha! I bought PX today. :P I like the engulfing pattern. Then add more on convincing break above 15. :)
Thanks Harley, Indeed caution and stops are really important. Learned some good lessons in the past few months.
My plan is also to add more with PX is to add more within 15-15.2 only if it is convincing
Thanks! :D
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