FKLI 20th July 2009

As yesterday,
FKLI short position covered, losses, 7 points/lots
no position hold overnight.

i suddenly realize that i did not follow my plan to long once break 1081 levels.
else, i'll be holding long position until now.

i also realize my position always from profit turn to losses.
maybe i should adopt more short term strategy.
need to revise my profit taking and entry strategy.

Results:
2 safe, 5 losses, 1 win

For FKLI,
FKLI stopped at 1128.5
Based on wave count.

Strategy,
if FKLI >1129.5, long, cut loss at 1122.5 on 15min closing. profit at 1143. (1st target)
if FKLI <1123, on 15min closing, short, cut loss at 1126 on 15min closing. profit at 1110.5 (1st target)
if FKLI 1123 < x < 1129.5, stay out.

Monitor,
Dow Jones +32

Nikkei Opening on morning session.