Recording this trade:
Long Tencent
-Entry: $343.80
-Stop: $340.80
-Target: $350.80
.
I was quite conflicted while taking this long trade as I was wondering why did Tencent drop when peers like Ping An and Xiaomi were all rallying.
There was good news on the trade war side and I did read reports of challenging times for Tencent. I have even considered going short but then I realized that this is a short intra-day pullback and decided to go long.
I don't have any special analysis on this long trade, just the simple candlestick chart that shows a bullish Tencent and general belief that the market had turned bullish despite concerns on Chinese growth and debt levels (even with the Qinghai default).
.
Recording this to see how the trade will go.
.
Long Tencent
-Entry: $343.80
-Stop: $340.80
-Target: $350.80
.
I was quite conflicted while taking this long trade as I was wondering why did Tencent drop when peers like Ping An and Xiaomi were all rallying.
There was good news on the trade war side and I did read reports of challenging times for Tencent. I have even considered going short but then I realized that this is a short intra-day pullback and decided to go long.
I don't have any special analysis on this long trade, just the simple candlestick chart that shows a bullish Tencent and general belief that the market had turned bullish despite concerns on Chinese growth and debt levels (even with the Qinghai default).
.
Recording this to see how the trade will go.
.