I am looking to buy on a dip. Hence if Wilmar goes to 6.34 and more I am considering in. My stop is 6.18. Risk is 16cts at entry 6.34. 16X3=48cts implies my target must be 6.82 thereabouts. Hmmm... very close to 6.9. If my entry is 6.38, risk is 20ct, my target needs to be 20X3=60cts more, i.e 6.98.
Entry Target
6.34 6.82
6.35 6.86
6.36 6.90
6.37 6.94
6.38 6.98
Considering my risk per trade, I think I will just bid at 6.28 now, look at the Dow in the morning and see whether I need to adjust my bid to a max of 6.34 (bullish), withdraw entirely (bearish), or just wait at 6.28 (mildly bullish)
No comments:
Post a Comment