Week 24 August – 28 August 2020 Trading plan & update

Monday 24 August 2020

Market open 9:10 AM Placing a buy stop order on The Foschini group (FTG) above R76.61, at R76.65.

Place stop loss

ATR 2.68 

Stop loss R71.17

direction : Long.

Reason for trade: Bullish Divergence

About the trade:

https://villagetrader.co.za/2020/08/09/tfg-bullish-divergence-trade/

Trade update:

BHPGroup PLC
  • Updated stop loss  to: 47.60. Above the high of the previous bearish candle. 47.40.
  • Updated risk 0% risk.
  • Current paper profit: R88.47
  • Trading plan link
  • Implala Plat 
    • Updated stop loss. R171 on Thursday August 2020 based on 2X ATR
    • On friday 2XATR was at above current stop at R175.80 meaning doing nothing with the trade.
    • Trading plan link

GlencoreSA (GLN).

  • My Sell stop order was hit on Friday 21 August 2020
  • Stop loss R40.40
  • Initial risk: 1.95% of current R1067.86 account balance at entry
  • Entry: R38.09
  • Trading plan link:

Pending Trades

Bidvest (BVT)
  • Trigger candle’s high R148.47 after breaking through the neckline of H&S. 
  • Stop loss below the low of the right shoulder. At R137.76
  • Initial Risk 2.03%
  • Direction Long.
  • Trading plan link

Closed Trades

Sasol (SOL)

  • Entry R153
  • Stop loss: 126.31
  • Take profit: 217
  • Actual exit: 126.31 Initial stop out.

Potential Trade

British American Tobacco SA.

Trade style/System breakout of rectangle trading range.
Resistance: 589
Support: 561 

Account update:

Current balance (Margin) : 971.43

Current Equity: 1079.61

Paper P/L: 108.

Account % move (incl paper P/L): +7.8% 

VT portfolio unit value :  R10.80 +8.62 from R9.94 

 

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