Thursday, 21 November 2013

Palm Oil Long 2640 At 1130am Today

After selling 2583@4pm on 18th November as hinted in the previous post, palm oil futures prices was trading in a volatile mode and the short term technical trend indicator A was having see a low of 2545 before it was hit with multiple losing trades that unable to be updated on time.

The short term technical trend indicator A or KEY indicator as always quoted in this blog previously had turned long 2589@4pm and short 2579@6pm on the same day of 20th November, with losses of 6 and 10 ticks respectively against its previous trades. The loss of 61 ticks was another pain taking action when the key indicator cut loss and turned long 2640@1130am today. The accumulated profit since the beginning of November had substantially reduced from 115 ticks to 38 ticks only after the last 3 losing trades.

The long 2640@1130am today will keep holding on unless hitting stop and reverse sell signals of 2604 in next 5 hourly trading sessions. The stop and reverse sell signals may have been changed to a higher level and no instant updates will be available on time for free public viewing.