ASX end of day trading review 25 08 2021
FMG buy trades
I left this long open with the iron ore price moving considerably higher overnight, I've attached the daily time frame to highlight there was a small pull back today and the RVOL was down but compared with the monthly average still elevated. Match price closed out flat during after hours and it's aggressive given the uncertainties with China to leave this open with the full position although I didn't get any clear indicators to exit this trade. For tomorrow if the iron ore price again keeps moving higher I'll leave this trade to play out during the first hour with a push back over 20.50 will be on watch alternatively a move below 20.20 with lower RVOL compared with what we've seen recently will be the exit sign and I'll leave this one to chop around.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
Hot
No comment on record. Start new comment.