Tuesday, 4 November 2014

Indicator Y - Long 2137 Stop Loss 2270

After hitting 2298 stop loss due to fear factor, traders may have another level to clear all long position at 2270 level as once there is 2270 at much lower at any session close, it may affect hourly indicator Y and keep adjusting higher in next trading session.

There is still no stop and reverse sell trade signal at 6pm today based on the hourly indicator Y trading guides. It is also not a stop and reverse sell at 2270 which is just a protective stop against the long 2137 because it is believed that once cpo futures price is traded at that level, the hourly indicator Y will turn sell in a very near future.