Friday, 3 October 2014

Indicator Y - Short 2150 At 6pm Yesterday

As mentioned in previous, the stop and reverse sell trade signal was finally triggered at 6pm close at 2150 yesterday. It is far away from the high 2223.

Traders should be able to realize by now that the long 2133 will have to be taken profit and turned selling 2150 from now on. Even though the 2150 may be just a theoretical price that hard to be filled in last seconds, it will be the guide based on the 60-minute indicator Y for the short positions to be initiated.

There will be no stop and reverse buy signals at 1130am today and therefore it is a kind of trading psychology that traders need patiently to wait in cut loss level which will only be known in next few trading sessions only after 1130am today.