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SET trade ideas

Yeah! What a weekley finish SET gave usWe've got a turtle soup pattern AND Friday closed with a --close to perfect-- bullish shaved top candle. And all of this went down, and changed power around the support resistance, I have been mentioning for so long, 1315. Bullish shaved top candles, is most often followed by a smaller pullback in the next candle or coming coming candles. But it is a very bullish candlestick! What I would put my trigger over the middle of last Thursdays large bearish candle, since the middle of large candles often offers support and resistance. And if you go into the hourly chart you will see the resistance SET will face (in the middle of the previous day's candle, 1330) although, if SET opens with a gap above the middle, 1330 will become a short-term support! In the graph I show my 3 step play from here. No. 1 would be to size down or sell all at the falling resistance. No. 2 then if SET breaks through, wait for the retest (in a lower timeframe) and trade it from there. No. 3 If it doesn't make it through the resistance, then wait for a candle pattern (lower timeframe) worth following, closer down to support level around 1315. Trade setups No. 1-3 is done with a stop-loss because NEVER swing- or day trade without one! Well that is my simple rule :)
SET:SETLong
by SamuiTrader
6
SET broke through the pennant bottomHello traders out there! We can now see the full force of the bearish engulfing, the 22nd of July, I hope everyone with active SET trades has protected them, with a stop-loss, or taken out profits since then. If the slow shielded animal (more explanation about the phrase later) won’t give protection to SET I can still see nice turning points. Mainly due to the simple fact that this run was done with so many gaps. Investors need to get familiar with a simple fact, that gaps will get filled –sometime in the future, in some timeframe, they will most defiantly get filled. First of all, I put some trust in 1300 (double zero) support and resistance, and if it gives up, then SET is back in in the “gap-island” support. At the bottom of the island I will also put FIB.50 and if the support from here, either, find the strength to have SET bounce back, well then I would say; “prepare for a setup that can very much mean SET will test March lows” Finally, let’s finish this with a positive note, for all Bulls out there: can always hope for a classic turtle soup pattern, i.e. false breakout, occur and if it does then be prepared for a ride up north. breakout is almost always a strong signal to the opposite way of the breakout.
SET:SETShort
by SamuiTrader
2
Yet, again I ask myself the question; where is SET going?SET has been consolidating now for a while, hope you haven’t been greedy and has taken out your short term profits, since early June. So what happened today? Did SET fool traders, with a false breakout, or is it simply retesting the breakout? Well, if we tomorrow get a Gap and Go, it could be a bullish ride worth to follow for, a while. If today’s pattern of a Bearish Engulfing is confirmed by SET tomorrow, then I hope all traders out there, do use a stop-loss to protect their losses. Happy trading!
SET:SET
by SamuiTrader
2
Let's see if SET will choose a direction today, up or down.I am guessing that most traders believe that today will be a red day, after BoT decision over Thai banks, and who knows if other sectors will follow because have many been able to make any profits, for interim dividends and buybacks? In the graph there I don't see anything saying, up or down, but I see that a big move is too come quite soon. The day is still upwards looking, and in 30 min (shown here) is showing that it has been collected power, for a few days. Not in what direction it will go, though. If we go in the daily graph, and expects SET to follow the trend. Then go bullish today, as there will probably be good “buy low” setups you can find. Or if you believe the BoT decision will be what stopped the bullish retraction in the bigger downwards trend. Then look for good selling opportunities. Whatever you believe, it is often much smarter to wait for the market to decide for itself, so my recommendation would be to wait, at least 30-60 minutes before you make you decision.
SET:SET
by SamuiTrader
2
Where is SET going??SET is building up power to, either go bullish or collect more strength further down south. In a purely technical sense I am neutral, until it has closed in either direction of the last 5 days triangle pattern. Although the market has shown that the underlying sentiment is bullish. So my primary target is therefore, to go in the northern direction, to at first test the last highs around to 1450. If it is not happy with where it’s at now and needs to go further down south, then I see a couple of targets on the downside. First is at the long-term support around 1315 and secondly to test the gap island (from the Covid panic fall), around 1250-1300, I can also find FIB.618 at 1285 so just in the middle of my first target south of where SET is at now.
SET:SET
by SamuiTrader