SIMSCI futures managed to break above the flag formed since 920am. Long position has been established at 290.3. Intraday resistance seems to be at 292 area.
SIMSCI
SIMSCI 10-JUL-2006
Well, that’s really too bad for France to lose in penalty. Alright, back to business.
As expected, SIMSCI again gapped down during open, but it is moving up now after opening low. Nikkei is losing more than -200 points. On news front, Nippon market is expecting rate hike in Japan this week.
There should be some actions on SIMSCI futures today, though I have not see a clear direction now. And of course, action can only be after my breakfast.
Today’s objective:
Trade with quality, not quantity.
RE: SIMSCI 07-JUL-2006: 2 trades closed:Chart
[photopress:SIMSCI_10_min_1st_trade.jpg,full,pp_image]
SIMSCI 2nd trade: Long
SIMSCI 2nd trade: Long
[photopress:SIMSCI_10_min_2nd_trade..jpg,full,pp_image]
RE:SIMSCI 07-JUL-2006:2nd trade: Long trade closed
Second trade of LONG position was closed at 291.6. After seeing potential negatvie divergence fo MACD-H, failure swing of RSI, increasing in selling volume, and 12-p EMA failed to cross above 21-p EMA, exit decision was made. In addition, HangSeng closed in negative territory did not give me a good feeling of holding on Long position as well. Second trade of the day closed with -0.3 loss.
That’s all for the day. I close my day and week in positive note.
SIMSCI 07-JUL-2006: 2nd trade : Long position
Second trade for today,Long position of SIMSCI was established at 291.9.
RE: SIMSCI 07-JUL-2006: Short position Closed.
This is a quick trade. My target for short position was reached at 290.7 which is the top of intraday support area. One trade closed with +0.7 points gain.
chart will be posted later.
