Wednesday, 14 January 2015

Indicator Y Short 2348

The short term indicator Y did not turn sell in the morning trading sessions which the cpo futures price was closed above 2334. Read back the previous post to know what was the last update.

However, the short term indicator Y long 2293 had finally done its stop and reverse trade in the afternoon trading sessions by taking profit and turning sell at 2348. Profit 55 points per contract size.

Looking at the previous high 2383, it was a painful trade in giving up almost 40 points of floating profit, it is, however, a part of short term technical trend trading that traders have no choice to let it go.

((FKLI long 1728.5 is still holding on and facing some pressure after seeing highest price 1748 it reached))