Monday, 21 October 2013

Palm Oil 4pm Short 2389 With 7 Ticks Profit

Technical View - The long 2382 at 1130am on 16th October had seen a floating profit of 50 ticks at high 2432 the next morning before the technical trend indicator A was hit with a stop and reverse sell trade signal 2389 at 4pm in the afternoon with only 7 ticks of profit. It generated another losses of 18 ticks in total in the following 3 stop and reverse trades until the long 2395 at 1230pm on 18th October, Friday. 

The long 2395 on technical trend indicator A is holding on until today, seeing high 2446 after opening at 1030am. Its 60-minute stop and reverse trade signals for the next 10 trading sessions will be in a range of 2401 to 2407.

The accumulated loss of this October month had reached 93 ticks which was meant that traders who followed technical trend indicator A had suffered more than RM2,300.00 per contract size until 18th October when the long 2395 was initiated. We shall see how much the long 2395 can help reducing the losses or not in next few trading days.