Updated ASX watchlist and Current positions
It is the end of another week and the ASX continues to be a battle for both investors and intraday traders as price action has been thin and choppy. Many setups have failed to materialise or, if they have, failed to give any follow through. Such is the nature of the market at the moment with traders unwilling to commit to too much new risk in portfolios and for good reason.
I expect that the coming interest rate rising cycle is going to change the trading dynamics and will not treat laziness lightly. Gone are the days of Buy The Dip (into anything) with bad stock choices still paying off, being swept up and supported by the overall bullishness of the market. So to are the outsized returns that many have been accustomed to and expect will/should continue. I feel that the new paradigm will be a traders market where identifying prime price action, stock selection and correct risk management will yield positive results.
I have therefore culled the ASX watchlist as many have failed to play out and the ones that setup, did not kick on to new highs. There have been some new additions to the list that are on watch and two that I feel are setup now and ready to trigger.
For more the full list; Go to the ‘SUBSCRIPTION ONLY’ channel in Discord or in the Members Area on the website for updates. If you do not have Discord or having problems viewing the private content, feel free to email me at firstname.lastname@example.org and I will get you up and running.
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Currently No OPen positions
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