FKLI 27th July 2009

As yesterday,
short position covered. cut loss. loss 8 points/ lots
despite i know it is a diagonal, i still cut loss based on the principle following system

results:
3 safe, 0 con, 6 losses, 2 win

FKLI outlook,
still looking topped.
based on the diagonal formation formed, tail- end of uptrend has higher possibilities.
however, seem like yesterday INSIGNIFICANT possibilities happened on yesterday trading.

Strategy,
If FKLI >1160, temporary clear short intention.
If FKLI >1171, bullish signal. turn long, cut loss at 2 previous 15 min bar low.

If FKLI <1151, short signal appear, short, cut loss 2 previous 15 min bar higher + 3 points or 1158 on closing, which ever is lower.

If FKLI <1145, short signal appear, wave 4 bottom break.

Monitor,
Dow Jones +23

watch for nikkei monday morning opening.