Sentiment is positive biased. Though not bullish. HangSeng futures turned from negative open to positive while Nikkei futures stays above positive. I am looking for price setup in SIMSCI for intraday Long position.
Rant
RE: SIMSCI 31-May-2006 : Potential short
[photopress:simsci_12_min_closed_trade_1.jpg,full,pp_image]
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 important factor to enter the trade, and same treatment is for exit. The objective here is to capture the intraday movement with the effect of market sentiment and profit from it. Small gain +0.6 point. This is 12-min chart of SIMSCI.
Re: SIMSCI 31-May-2006 : Potential short
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.
SIMSCI 31-May-2006: Potential Short
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 entry level for short position.
Re:SIMSCI 30-May-2006 : Potential Short
[photopress:simsci_fullday_12_min.JPG,full,pp_image]
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.
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.
SIMSCI 30-May-2006 : Potential Short
I am looking at a weaker session of SIMSCI today. With Nikkei trading flat and negative Hang Seng, sentiment is negatively biased. Price setup is still incomplete at this point of time.
1028am.
