[ANALYSIS] How much 'entry plays' you need to succeed in your trade

'Headways are starting to materialize further in the banking, energy, food and mining sectors. Be ready to buy or buy back.' Analysis

We normally assume that entry, otherwise called as market timing, is very important because it is the first step in the cycle of a trade.

Nitpickers, on the other hand, insist on buying right now. The market is near the breakout level of 6,600. Their rationale is you make more money when the market actually breaks out. As it turned out, the market barely managed to climb higher. It made a net gain of only 9.63 points or 0.14% on Monday, June 5, when it settled for the day at 6,521,64. Total volume was high with 1.7 billion shares but total value turnover was low at Php3.36 billion.

On Wednesday, June 7, the market closed the day at 6,564.70, with a huge net gain of 84.77points or +1.30% on a trading volume of 801.80 million shares and total value turnover of Php4.14 billion. Foreign investors’ trading activities and direction contributed significantly to the market’s climb. They accounted for 58.81% of total market transactions and played as net buyers for the day.Inflation rate, or the pace of increase in the prices of goods and services, went down further to 6.1% in May.

So, be ready to buy or buy back, as the case may be. When? Between the trading calls discussed earlier, I recommend that you follow the strategy of entering or re-entering “after the market gets back above its current 6,600-resistance level.” The recovery is an indication that the failure has been overcome and that the underlying trend can resume.The trading equation is a cycle made up of two individual components: the entry or buy side and the exit or sell side.

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