Saturday, January 30, 2021

Tips for BOUNCE PLAYS

 



BOUNCE PLAYS - tips on playing the bounce:


1) Look for strong confluence support areas - overlap key levels on the daily charts with possible intraday levels. Notice how the gap level for BSC and PHA at the daily held their levels? It's ok to plot fibo levels pero basic na yan, it's just a measuring tool. At the end of the day levels of support and resistance are important kasi these can somehow measure levels of buying interest/demand.


2) BE PREPARED, be very prepared - on bounce plays, the market can play out its scenarios dynamically, from gap downs to sideways opens to gap ups - how well you can manage these scenarios is key.


3) ADAPT AND REACT - this is the only way to be able to execute in bounce plays. Sometimes pag di ako nakakabili sa level na gusto ko I maintain my composure and look for the next possible buying area.


4) WAG MAGPAKA GINYUS - Di kelangan makabili sa pinaka baba, wag na magpaka ginyus please lang, pede naman bumili on signs of strength or as the stock is going up. Ang goal mo sa bounce play is to have a setup you can profit from in a short span of time.


5) KALMA LANG - when it comes to exits, FOLLOW YOUR PLAN, especially when it's just your buy day. Don't just react prematurely to every candle, trade the move/levels. Monitor your targets and your stops.

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