It was rather slow trade. However, it was profitable. Entry at 282.9 and exit at 282.3. It is a very small gain. Exit decision was made as RSI was making higher lows in oversold zone and recent downtrend line was broken. I have considered failure swing in RSI as one of [...]
Short level has been moved up to 282.9. Nikkei extends losses to more than -300 points,12-min chart of Nikkei shows a failure swing of RSI indicator which support my bearish sentiment. SIMSCI has from a descending triangle again.
Short position of SIMSCI has been established after market reopen.
From the desk of Tradergav.com
It does not take a bachelor of science to understand that current market is in very negative sentiment. It looks like more than correction. Though I hesitate to say downtrend is in place. I am waiting for price setup to establish short position of SIMSCI.
I am looking at 282.4 [...]
As mentioned in the morning posting, sentiment was negative.
The entry came later than expected. After failure swing was observed in RSI, short position was established at 290.6. Position was closed as trailing stop was triggered at 289.4, with 1.2 point gain.
From the desk of Tradergav.com
A daily snapshot chart and comment of SIMSCI can be found in Traderswin Futures Trading blog.
From the desk of Tradergav.com
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