Seeing high 2400 yesterday and low 2337 today on cpo futures prices, the long 2277 based on the short term technical trend indicator Y trading guides is riding on the fear and greed that we always like to mention about.
Trading below 2339 today will mean the long 2277 is giving up about 50% of its floating profit against the high 2400 that was traded yesterday during the POC 2015's "star" speaker Mr Dorab Mistry is having his speech! Rising Crude Price and weakening Ringgit is seemed failing to hold on the fall of cpo futures price. Feel the fear and still have the greed!?
Again, as technical trend trader, you have no choice giving up good floating profits! See the charts in the 101indicators On Futures Trading book to find your good trading rhythm and hopefully you will succeed in futures trading in 5 years time from now.
Yes, 5 years in short term trading (full time!) will be almost equivalent to 25 years of long term trading! Believe it or not!
Assuming cpo futures price keeps trading below 2339, the stop and reverse sell trading signal will soon be adjusted much higher and may trigger a sell signal in the afternoon sessions today.
FKLI short 1816.5 which was technically starting with a profit of 15.5 index points being carried forward from last month after the settlement 1823.5, against the long 1801.0, is having another good run since the index futures is traded lower today with no stop and reverse trade signal today.