As the 5pm stop and reverse sell trade signal, or SAR, 2192 was triggered after cpo futures price was last traded 2175 at 5pm, we have finally seen another stop and reverse trade on FCPO in April. We will focus on the short 2175 from now on.
Giving up about 70 points floating profit at high 2250 after turning long 2177, we thought of the indicator Y also hit with another multiple losing trades as what we said in the previous post. The short term indicator Y had actually hit the 7th multiple losing trades with 2 points loss! What a painful trade seeing good floating profit turned to loss!
In April month, the indicator Y started with a 12 points loss on its first stop and reverse trade and 2 points loss in this second stop and reverse trade; thus, the accumulated loss in April is 14 points.
We will probably be able to see the stop and reverse sell signal on FKLI tomorrow if the index futures is closed at the low today.