Sell order was executed at 285.6 immediately after market reopen for afternoon session. However, selling force was not strong. It was hanging in the air with small flunctuation. U.S futures are in negative territory now. Watch out for Nikkei futures reopen at 330pm.
Rant
SIMSCI 05-June-2006: Potential Short
With negative biased sentiment. I am looking for price setup for possible short sell opportunity for intraday SIMSCI.
Market seems to be very quiet at this point of time.
RE: SIMSCI 02-June-2006: Potential short: LongTrade Closed
[photopress:SIMSci_12_min_full.PNG,full,pp_image]
This is 12-min chart of SIMSCI.
It is indeed a good day. After Short setup failed to form, I observed a Long opportunity. Long position was established at 284.6. Initial target was 287. To be frank, I thought the target was too far away. I was obviously wrong. Target was exceeded. Trade was closed at 288.1. As target was achieved, I turned to 9-min chart to follow the fast move. Failure swing was found in overbought zone. This gives a strong signal for me to take profit. Market might continue moving up, however, the objective here is to captured the intraday sentiment and profit from it. Gain +3.5
It is indeed a good day. After Short setup failed to form, I observed a Long opportunity. Long position was established at 284.6. Initial target was 287. To be frank, I thought the target was too far away. I was obviously wrong. Target was exceeded. Trade was closed at 288.1. As target was achieved, I turned to 9-min chart to follow the fast move. Failure swing was found in overbought zone. This gives a strong signal for me to take profit. Market might continue moving up, however, the objective here is to captured the intraday sentiment and profit from it. Gain +3.5
In the morning, I was caught in a prejudiced situation to insist of short opportunity. It did not take me long to decide twisting my mentality to accept the reversal of trend. Trade with the fact, instead of personal opinion is proven to be profitable in this case.
RE: SIMSCI 02-June-2006: Potential short
I was waiting for a descending triangle to be formed in order to setup my short position. However, trend reversed. Descending triangle formation was failed, and downtrend line was broken upward. Higher lows formed a uptrend line. A swing trade setup is completed. I am now looking at Long position at 284.6.
SIMSCI 02-June-2006: Potential short
The market is not as good as the crowd were expected. With Nikkei moved from positive to negative and Hang open flat, I am in fact not expecting a rally in SG market. Sentiment in the first hour of trading is flat with negative biased. I am looking at possible Short side instead.
RE: SIMSCI 01-June-2006: Potential Long
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It was a dissapointed day. Sentiment changed from positive to flat and then negative. No position was established. To be exact, one opportunity was missed and two were ignored. It is the challenged of real time trading. I do not know what is going to happen at the right side of chart, experience and skills makes the judgement call. Short entry at 11:24am was missed. Subsequently a descending triangle was formed, it was ignored as RSI is diving in oversold zone. The last opportunity was a bearish flag, it was again ignored as entry level is too closed to day support level. No trade for today. Gain 0 point.
