Advance Exit Signal in Hourly Chart - MY E.G. (0138.KL)
A timely exit strategy for your trades are as important as your entry strategy. Exit strategy is extremely important in that they assist you with overcoming emotion and reducing risk in trading. Hourly chart can be useful to detect the Hidden Potential Selling once the stock is rally in the Mark-Up stage. Below are the few examples in MY E.G, hourly chart:
1. Mark-Up stage with price increased almost 48% since buy signal
2. Price unable to break above RM1.81
3. Sign of Weakness (UT) at resistance level in the hourly chart indicates smart money start to distribute
4. 2 exit signals based on hourly chart after the Sign of Weakness
a. Red HeatZone on 27.09.18, 10am - RM1.76
b. ATR Stop Loss on 27.09.18, 12pm - RM1.73
The weakness and distribution is further been confirmed in hourly chart with 2 Sell Off bar on 2 & 3 October 2018.
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