As yesterday,
i did nothing as i busy creating my new system.
but, based on opening, i'm safe for not short.
Results:
3 safe, 0 con, 5 losses, 2 win
FKLI outlook:
Daily chart show consolidate despite 1 spike up head but still manage to close below the range.
Hourly chart shows 1160 is upper trendline resistance.
Based wave count,
yesterday almost complete
last%@1163
last%@1161.5
200%@1163.5
238.1@1164.5
This show there is still possibility that FKLI might touch the resistance again.
However, complete this 1163, might 2 possibility
1 minor sell down or 1 extreme major sell down.
Strategy:
If FKLI gap up > 1165, turn bullish
If FKLI gap up > 1152, stay out from market
if FKLI < 1145, short, cut loss at previous 15min bar high + 3 points
if FKLI <1131, sell signal confirmed. short, cut loss at previous 2 15 min bar high.
Monitor,
Dow Jones closing.
Wednesday FED chairman Bernanke gives monetary policy testimony to the Senate.
Thursday FED governor Tarullo gives banking regulatory testimony to the Senate.
Weekly Jobless claims are released, along with Existing home sales and the UofM Consumer sentiment reading
Sunday FED chairman Bernanke is hosting a town hall event at the Kansas City FED.
Nikkei Opening.
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FKLI open at 1147.5.
ReplyDeletesupport seen at 1145, 1131.
follow plan.
break 1145, short, cut loss at 1149.5
As expected, FKLI rebound.
ReplyDeleteit's not a bull rally this time.
wait for short.
FKLI, once break 1155, establish short position
ReplyDeletecut loss at 1161
short position established @1155, cut loss at 1160.
ReplyDeletePlanning an optimum trading strategy is must to win in stock market with profitable returns. Get best sample calls of market experts by following epic research.
ReplyDelete