FKLI 17th Aug 2009

As yesterday,
short position @82 still holding.
cut loss move to 1200.

Results:
3 safe, 0 con, 10 losses, 3 win.
Average -35 points/lots

Outlook,
market still consolidate.
range from 1172 - 1196. uptrend channel. i think it's more like upwards diagonal.
it's possible wave 3 tail end, possible reach 1191, 1196 or possible already met target.

strategy,
if FKLI >1191, on 15 min chart closing, short position cut loss. but cautious around 1191, 1196, possible to short again based on candle signal. but i'll follow plan cut loss first, then short later.

if FKLI > 1189.5, possible reach target will be 1191, 1196, 1198, 1209.

if FKLI 1178 < x <1190, stay out. trading based on support resistance strategy.

if FKLI <1178, on 15min chart closing, sell signal, cut loss at 2 previous 15 min bar high +3 points.

next support at 1172, 1163.

situation will be change according to fibonacci projection.