Thursday, 5 December 2013

The Long 2651 At 4pm

At 4pm yesterday, key indicator based on hourly technical trend trading had hit a stop and reverse buy signal 2651 against its short 2634 as mentioned in previous post. It had a loss of 17 ticks or equivalent to RM425.00 per contract size.

At the long 2651, the December month has already started with 2 losing trades with total accumulated losses of 23 ticks so far. The long 2651 will hold on from now on unless the next 5 hourly trading sessions on cpo futures show any price below the range of 2641 to 2632 with morning 2 sessions at 2641 and afternoon 3 sessions at 2641 to 2632 as the stop and reverse trade signals.