FKLI 29th July 2009

As yesterday,
FKLI overnight short position covered @1164
loss 9 point/ lot
established new short position @ 1174.

Results:
3 safe, 0 con, 7 losses, 2 win

Outlook,
FKLI seems top side on technical yet seems bullish
base on my wave count, i think there are 3 possibilities
1st, major wave 3 complete, objective 1180, today hit 1178
2nd, major wave 5 complete, objective 1176, today hit 1178
3rd, minor wave 3 complete, objective 1177, today hit 1178.

if break 1178, then looking possible to reach 1209 levels.

strategy,
if above 1180, bullish, turn long, cut loss at previous 15 min bar low
if above 1177, short position cut.
if below 1174.5, very mild short signal, short, cut loss at 1177 + 3 points.
if below 1153, candlestick short signal, short, cut loss at 15 min previous 2 bar high +3 points.

monitor dow jones and nikkei.