End of day trading review 02 03 2022

#OPINIONLEADER#

FMG buy trades

WPL buy trade

FMG gap up after some heavy selling recently and IO moving higher out of it 670 - 720 yuan per tonne range. FMG first longs were at 18.28 out at 18.26, back in at 18.27 out at 18.23. 18.20 continue to hold with XMM and XJO rallying and made a final attempt at 18.28 with 18.40 offering firm resistance and the dip at 18.30 being bought but the depth was lacking and I played it safe exiting at 18.33. WPL pulled back after it's gap up with 29.20 LOD holding up and the wick to 29.16 was quickly bought up, Oil was really strong over night and held up in this mornings session in at 29.26 and out at 29.36 as 29.40 was firm with offers and Oil was topping out. Back in the green for the month and looking to reinforce exiting quickly when valid. WPL and FMG breaking out after I got out was unfortunate but no chasing and happy with the entries after I let the initial moves play out and came in after pull backs too place and the direction flipped back to long.An additional long was taken at the break over 18.50 entering at 18.53 and with 18.70 failing to be broken and IO coming down after going to over 5.63% up on the day I took an exit at 18.63 getting lucky with the small bounce off 18.60, calling it a day now with markets still lacking except for oil which is keeping WPL on my watch list for tomorrow's session.Took a long on WPL at 30.38 near the close of today's session. Strong bidding pressure near the close on WPL at the break of HOD 30.35 and with brent crude holding near it's high after a dip was bought up suggested a break was on the cards. Stop is at 30.20 don't want to see the Ukraine situation get worse but uncertainty is driving markets for now and playing the risk off sentiment here.

Total = 1.8R