Friday, 14 August 2015

Palm Oil Short 2184 - Take Profit Turn Long 2028

It is the 3rd time that we have ever recorded for a good trend which stretches over from one month to the other month since the beginning of the year 2015, which mean, a position that has to be carried over to the following month and the profit will only be recorded in the following month, not the same month where a position is initiated.

Understand? In short, we had an accumulated loss for the month of July when the short 2184 was initiated (find them in the Beta page) and the profit for the short 2184 is only recorded today in the month of August, not July.

The indicator Y short 2184 had finally taken profit turned long 2028 at 4pm just now, generating 156 ticks profit in one single trade.

However, we missed the 400 ticks profit target at 1879 already (cpo futures lowest 1958), and we will focus on the long 2028 from now based on the indicator Y trading guides on short term technical trend trading.

Then, where is the next 400 ticks profit target? After the stop and reverse trade 2028, the accumulated profit is now 251 ticks since the beginning of year 2015. Thus, 400 - 251 = 149 ticks will be the range in achieving the 400 ticks profit target.

So, the next 400 ticks profit target is 2177 ( i.e. 149 + 2028 = 2177 ). If hit, it means cpo futures will be up 149 ticks from 2028 to 2177, and... mission accomplished!