ASX end of day trading review 18 11 2021

#OPINIONLEADER#

FMG buy trade

EVN buy trades

FMG went long at 15.60 that A trade was to dip buy that gap down did have a sleep in and reflecting honestly this was a FOMO trade as the tape around 15.60 was very much a coin toss. Stayed in until I got out at 15.46 with no flipping short at the break of VWAP as I had EVN on already and buyers hung around in the mid 15.30's so left it be to avoid going into tilt, the daily chart attached is showing a real lack of buying volume and iron ore continues to creep lower so the bias short is coming into focus for me and will have to make sure to still stay flexible and if need be stay out to stop getting into the chop. EVN entered at 4.35 and 4.36 as the HOD was approaching after a dip to 4.26 RVOL was very high and buying volume was strong wasn't a fast moving stock but has good upside with the daily chart showing buying volume has picked up and has a catalyst in the gold and silver mining space as the precious metals come into favor with more inflation present globally. Holding EVN over night with a second day play with the initial target being 450 and the uplift in gold and silver for the rest of the week the plan. Put a bit more effort with my review today and the depth on FMG was lacking any clear sign of wither buyer or seller strength and the push to 15.66 was the last ditch effort for the day with the iron ore price moving lower recently in afternoon trade saying to me that catch a gap down for a quick dip buy will be the play tomorrow and not trying to make a break out trade after a run up. The EVN depth for all three entries had fresh bidders coming in on the 5 min depth and sellers kept getting hit at 4.40, and was ok to add into this with a significant move on the daily buying volume and positive catalyst. Plan A was to leave it until 4.30 was approached for a dup buy but buyers kept coming in and I feel there is more upside possible here.