Thursday 12 May 2011

Palm Oil Futures Sell If 1130am 3253 Or Lower

Don't place stop order before market opening to avoid unnecessary bad price, but stop limit order is allowed like Sell Stop 3251 limit 3246 order can be placed as the losses may be limited to 3246 the lowest for the stop limit order ( actually it will remain a profit even 3246 is traded ).
Since cut loss point will be known when the indicator is turning sell at 1130am, thus, traders may just cut loss at that time although price may be even lower. This is technical trading that traders have to follow to be discipline.
CPO Futures hourly indicator will turn selling once palm oil futures price is traded below 3254 at 1130am sharp today.