Get The Ultimate Guide to Price Action Trading

  • How to decode what the markets are telling you so you can identify high probability trading setups—consistently and profitably
  • How to identify hidden strength and weakness in the markets so you can “predict” market reversals before the crowd
  • A simple trading strategy that allows you to profit in bull & bear markets (without any indicators)
__CONFIG_colors_palette__{"active_palette":0,"config":{"colors":{"62516":{"name":"Main Accent","parent":-1}},"gradients":[]},"palettes":[{"name":"Default Palette","value":{"colors":{"62516":{"val":"var(--tcb-color-0)","hsl":{"h":20,"s":0.99,"l":0.01}}},"gradients":[]}}]}__CONFIG_colors_palette__
Yes, Give it to me

Sembcorp Marine — Descending Triangle Pattern 

Last Updated: July 26, 2019

By Rayner


5 Facts About Sembcorp Marine

1) Price is currently below 200 and 100 EMA, which indicates the medium to longer term trend is towards the downside.

2) Only 3 out of the last 11 months, did Sembcorp Marine closed higher for the month.

3) Price did a false breakout on 10/6/2015, which should have gathered some long interest.

4) We have a 7 month old descending triangle pattern.

5) Price is forming lower highs into key 2.85 – 2.90 support.

Trading Plan

There could be resting stop orders just below the recent swing low, from traders who went long after the false breakout.

If price trades below the recent swing low, I will look to short with stop loss of 2 ATR.

This is not trading advice. Kindly do your due diligence before risking your hard earned money.

As always, comments are welcomed and encouraged. Cheers!

Do you know the 5 Secrets of trend following that makes it profitable over the last 200 years?
In my FREE trading course I reveal to you what are the 5 secrets, and how it can improve your trading immediately.
You can download it here for FREE.
{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}