After making two rounds of good profits in this month, 134 ticks and 34 ticks, the indicator Y long 2283 was hit with a loss in a very short period of time. The long 2283 had cut loss turned selling at 2247 at 4pm just now, incurring a loss of 36 ticks. Accumulated profit for June had been reduced to 132 ticks.
As mentioned in the previous post, the 400 ticks target will probably fail to reach by end of the month. However, we will keep posting the write-up until end of the month before we call it a day!
From now on, we will focus on the short 2247 until the next stop and reverse buy trade signal is published. As long as no indicative price is posted, readers traders shall assume that the short 2247 will be holding on.
The 400 ticks target will be at a range of 164 ticks below 2255 (amended to 2247, not 2255 as written due to typo error when published the post), meaning if cpo futures price is traded 2083, we achieve the 400 ticks target. 164 ticks!
The Basic of Crude Palm Oil Futures Trading On Bursa Malaysia Derivatives Based On Technical Analysis.
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