Chinese Stocks Are Moving Up!

15 июн. 2023 г.

Watch BIDU TME CWEB BABA NTES PDD . Most are breaking out
Scoop up some strong ones!!

Reasoning

• Whole Industry is moving!
  
• Use strong bars to draw trendlines, most times spikes should be left out!
  
• Consolidation seems done
  
• Correction is not overextended
  
• Good Relative Strength
  
• Great earnings
  
• RSI tested bullish range multiple times
  
• Multiple Bullish Days
  
• Always try to use 2 timeframes
  

My Would Be Trade Plan

• - Risk about 1.5ATR and aim to ride up to 4.5ATR (1:3)
  
• - Raise stop once Trade moves 2ATR in your direction
  
• - Add on new highs after a pullback. (Then raise stop to keep original risk and also do not modify the target price)
  

Main Sources of My Knowledge

• Mark Minervini
  
• Constance Brown
  
• William O'neil
  
• Speakers on Trader Lion Youtube
  
• Adam Khoo
  

My Indicators

14 Period RSI.

• 9SMA and 45EMA Moving Averages added
  

Composite by Constance Brown

• This is for catching failures in the RSI.
  
• The RSI is a bounded indicator so sometimes fails to catch divergences. This indicator helps show that
  
• Composite Settings
  
• Author : Constance Brown (Connie Brown)
  
• RSI Length : 14
  
• RSI Momentum Length : 9
  
• SMA Length : 3
  
• Fast Simple Moving Average : 13
  
• Slow Exponential Moving Average : 33