I am looking at Short position of Mini Dow at 11,112. A established downtrend is shown in 10-min chart.
Archives for June 2006
RE: SIMSCI 22-June-2006: Long Trade Closed
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Long position of SIMSCI was closed at 282.4. Volume did not support buyers to push up further, and RSI was forming failure swing. A descending triangle was forming as well. I do not like the situation like this. Closed the trade with small gain. +0.4 point.
I was very unhappy with the liquidity of SIMSCI. Sometimes it does give me the feeling of ‘Why on the earth I am wasting my time trading this dummy index futures?’. Look at the daily volume, it is hardly cross 5000 contracts.
I do see opportunity in SIMSCI futures trading, however, given the lack of liquidity, I am considering switching to some other better choice.
This is 10-min chart of SIMSCI as at 3.30pm.
RE: SIMSCI 22-June-2006: Long Trade
After Nikkei gaining +400 points. I have established a Long position of SIMSCI at 282. SIMSCI does not seem to be strong. Closed trailing stop is placed.
RE: SIMSCI 22-June-2006: Potential Long
In fact, there were two opportunities to establish short position for SIMSCI at 1010am (281.7) and 1140am (281.3) , and these opportunities were proven to be profitable before lunch break. No action was taken as Nikkei and HangSeng were showing strong gain with more than 200 to 300 points gain. With positive regional sentiment, I would rather go Long or simply not trading.
SIMSCI 22-June-2006: Potential Long
It is a positive morning, with 3-digit gain in DJ last nite, both Nikkei and SIMSCI opened higher. Nikkei is trading near +300 point, while SIMSCI is trading around +4 point gain. I am looking for opportunity to enter Long position.
Paper Trade Series: Mini Dow 21-June-2006
It is a excited opening for U.S market. From 1 min chart of Mini Dow,there was a good setup for Long position. Mini Dow futures was trading above 10, 15, and 30 period moving averages and closed above CBL entry level. RSI supported the entry decision by making higher lows. Entry was at 11075 with exit at trailing stop 11114.
