SMZ1 trade ideas
Sino Biopharma- Double three in action. HKEX:1177
Current wave analysis suggests that the stock has already completed a regular flat and zig-zag action.
Price action suggest that the stock is heading for further downside correction as rising wedge formation gave some hint that the stock is losing its steam on bullish momentum.
Thursday bullish pin bar/hammer is considered failed as the bullish rally on Friday (14th Feb) is rejected at the final hours, forming a bearish hammer below the supply region, which confluent with the 78.6% of the Fibonacci level.
1177, Sino Biopharm - Trailing Stop and Ascending TriangleHKEX:1177
After our long entry on the head and shoulders of reversing, we are managing the position by gradually moving the stop profits below the last lows.
Currently an upward triangle is forming within our trailing stop, which if it broke the resistance level would probably further give a bullish input and benefit the position value.
Trading is an activity that requires patience, and if you succeed you can really have great satisfaction.
1177, Sino Biopharm - Trailing Stop after Breakingout on H&SHKEX:1177
Here too we continue to move the stop loss in trailing stop mode, until we reach our primary objective, that is Break Even Point, equal to the entry point plus commissions.
Remember that Risk Management and Position Sizing are the fundamental points to have a positive trading operation.
Strategy alone is not enough.