Wednesday, 19 November 2014

Indicator Y Short 2222 - Cut Loss Turn Long 1130am!

Without taking into any consideration of any unforeseen circumstances like higher high lower low, the hourly indicator Y short 2222 will have to cut loss and turn long if cpo futures price is lasted at 1130am above 2229. The 3rd active contract month was closed 2251 yesterday which is above 20 points higher than the 1130am stop and reverse buy trade signal.

As mentioned in previous post, the stop and reverse trade signal will be adjusted much lower than expected if cpo futures price was closed higher yesterday and readers traders therefore should realize now that the stop and reverse trade signal that not being given yesterday will suddenly have such a low stop and reverse trade signal.

Let's wait and see what will be the last traded price at 1130am today. Update will be available once the 1130am data is collected. At any price above 2229, the hourly indicator Y will face another losing trade - three losing trades in a row as specifically categorized as multiple losing trades in this CPO Futures blog.