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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.
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