STI Index
Prices in a mid term converging triangle
Recent high volume in July and August looks pseudo pump and dump imo
Pseudo because this is an Index and tracks all other components
So it perhaps shows a surge in buying increase, but also an equally strong selling signature
Which also tells me that the big fishes might be dumping at this level
Either way, it looks feasible to continue to trade the converging triangle, entering when it is near the lower line and selling when it bounces, with cut losses in place
Better levels to enter long term is near Fib 1.00 (29xx) of both the up and down trend, and then heavier entry if it falls near the Fib Elliot golden downtrend ratio of Fib 1.618 (23xx)
As always, gentle reminder to dyodd
