Here we not mean about the profit taking at the top or bottom, it is more about the floating profits being gave up when a stop and reverse trade signal is triggered that makes readers traders feeling the heat of giving up a big floating profit from the top or bottom.
For example, we will not talk much about how high can the index futures reach even though it did a high at 1817.5 this morning, giving good profit for the long 1779.5 according to the short term technical trend indicator Y trading guides. We never set a profit taking target for readers traders, it is
up to readers traders' own judgement since we only comment on the stop and reverse trade signals.
We like to emphasize on the low of cpo futures at 2128 that readers traders will have to miss when the stop and reverse trade signal is triggered. Trading above 2200 may probably push the stop and reverse buy trade signal much lower in the afternoon and trigger a buy signal in near future against its short 2295 according to the short term technical trend indicator Y trading guides.
Above 2200 against the 2128 low is definitely a big floating profit that have to give up in following the indicator Y! Therefore, bear in mind, it is a kind of pain that may psychologically affect readers traders' discipline if cannot manage well.
Looking at the short term trend trading in FKLI FCPO using indicator Y, this month will probably be the best month since the beginning of the year 2015! Traders who have the 101indicators On Futures Trading book should have doing very well, better than the indicator Y.