Archive for July 11th, 2006
Tuesday, July 11th, 2006
[photopress:SIMSCI_10min_review.JPG,full,pp_image]
After reading the chart retrospectively, mistakes were found. Mistakes were found in the second trade. While for first trade, false breakout is expected portion of breakout trading.
In the second trade, stop loss calculation was wrong, instead of 289.5, correct stop loss level should be at 289.7, if short entry was ...
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Tuesday, July 11th, 2006
[photopress:SIMSCI_afternoon_second_trade.JPG,full,pp_image]
It is indeed not so good day to me. I have two losing trades today. Second trade was a SHORT on SIMSCI at 288.9. After the spike of afternoon session opening, SIMSCI looked weak.
Trailing stop was moved to 289.5 and triggered. Instead, a 'W' bottom is in the making and ...
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Tuesday, July 11th, 2006
[photopress:SIMsCI_10_morning.JPG,full,pp_image]
It was a disappointed trade. Nikkei failed to push up further, instead, it formed a lower high, which does not look good to me. I have exited Long position of SIMSCI at 289.7. Initial stop loss was at 289.3.
One trade closed: -0.2 loss
Trade summary:
Direction: Long
Entry: 289.9
Exit: 289.7
P/L: -0.2
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Tuesday, July 11th, 2006
After seeing Nikkei futures recovering again, and SIMSCI futures breaking up day high, I have established a Long position at 289.9. Bull strength is not significantly strong, I am watching stop loss closely. Intraday resistance level seems to be at 292 area.
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Tuesday, July 11th, 2006
Nikkei Futures seems to be breaking a descending triangle in 10-min chart with failure of RSI. I expect it to lose a little bit more. SIMSCI, being one of the weak index in the region is likely to follow any fluctuation in Nikkei and HangSeng.
It is pretty hard for me ...
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