SA Top 40 Trading Ideas

[Guest Wapper]

Hi

Any Trading ideas and strategies that you would like to share, please do so here. It would be nice to have a dedicated thread for trading the SA Top40

[trade247]

What are your thoughts @Wapper ? I don't really know the market, but I assume it's highly leveraged towards mining sector, iron etc.

[Guest Wapper]

52% of it is made up of Naspers, BHP Billiton, Sasol, Richemont, and Anglo American. Not sure what that tells us. There is a massive move in the morning between 09:00 and 10:00. I think it because most shares making up this index has international exposure and when they gap open they pull it in a direction until buyers and sellers come in to even it out. So if you could analyze that first movement and come up with a strategy, it could be very lucrative. 

[phillo]

This is good, I always look forward to the Roffey Review    https://www.businesslive.co.za/bdtv/

[trade247]

So Naspers owns a hella lot of Tencent doesn't it - so best to keep an eye on that. BHP you can also get an insight pre open (altho I know on IG its 24 hours).

Drill and mining is a big one too. Commodity prices would be the news to keep an eye on. Wonder if there are any technical setups.

[Guest Wapper]

I am in this for very short term trading. Using the 5min in the morning for a quick trade. Now working on something between 1 and 3 min. Looking just to take 50 -70 points. This index will kill you if you stay in too long. 

[Guest Wapper]

Doesn't seem to be an entry point today?

[Caseynotes]

11 minutes ago, Wapper said:

Doesn't seem to be an entry point today?

Could be an opportunity to go long if this 15 min pin/doji is eclipsed, see chart;

[Guest Wapper]

Is that an inverse Head and Shoulders forming on the 5min? that would support the breakout on the 15min

[Caseynotes]

could turn out that way but seems not to be, the market is bullish and it certainly looks like it wants to trade higher but is struggling a bit at the moment, can't eclipse that 15 min candle and can't break lower.

[Caseynotes]

Very much in tune with the Dow as well. Wait for the Dow to try a push higher.