$Tencent 5xLongSG270930(PSJW.SG)New week, same Tencent position. This one has really tested my patience over the past few weeks. We went from being quite deep in the red, recovered back into profit, dropped again, and now we’re sitting almost exactly around my entry level again.

For me, that price action actually makes this week quite interesting. Tencent has shown that buyers are still willing to step in after weakness, but at the same time there hasn’t been enough momentum yet to produce a clean breakout. So rather than focusing too much on whether I’m slightly green or red on the position, I’m watching whether the underlying stock can finally establish a stronger direction.

Fundamentally, I still like the Tencent story. Gaming remains a major cash generator, advertising has become increasingly important, and AI/cloud could provide another growth engine over the longer term. The key for me is whether earnings growth can continue supporting the valuation and whether sentiment toward Chinese tech remains constructive.

This is also a 5x DLC, so patience has to come together with risk management. Sideways movement is not necessarily harmless when leverage is involved, and I don’t want to hold simply because I’ve already spent so much time waiting for it.

For this week I’m giving the position some room. If Tencent can regain momentum and buyers start pushing it through the recent range, I think the risk/reward becomes much more interesting. If the underlying thesis or price structure starts breaking down, then I’ll reassess instead of getting emotionally attached to the trade. @Captain's Treasure