Thursday, October 29, 2009

Trade Setup 002

Ok Boys and Girls, game time ~_~
1st thing 1st, lets look at the sentiments:
-U.S. stocks sank, extending a global slump, as an unexpected decrease in new-home sales added to concern the seven-month rally in equities outpaced prospects for economic growth. The dollar rose against most major currencies and Treasuries gained, while oil and metals tumbled.
 -The Nikkei average slid more than 2 percent on Thursday below the 10,000 mark for the first time in three weeks, as a stronger yen hurt shares of exporters and after weak new U.S. home sales data sparked a broad sell-off on Wall Street. Hong Kong shares tumbled out of the open, in tandem with other Asian markets, as the benchmark Hang Seng Index fell 2.2% to 21,293.7 in early Thursday action.
          Today Special :
1. Short setup on FKLI Nov 09
2. Overall uptrend health on FCPO   

1.) Short setup on FKLI Nov 09
Alright you read the news, now lets look at the set up. This might be the moment I waiting for, a short set up on FKLI Nov 09. Today breakout seems valid and there might be a follow through selling right after previous bearish candle. Short set up check list as below:
a.) Breakouts - Check 
b.) Indicator - Check
c.) Divergence - Check
d.) Candlestick formation - Check on Weekly charts 
e.) Recent candle - 2x Check 
f.) Volume -Check
g.) Lower High Or Lower Low - Not Check ( Cant wait for that because knowing this market it come 3 weeks after it)  
h.) Market Cycle - Check 
i.) Regional Indices and Sentiment - Check 
j.) Money Management - Check,  Risk = Stop @ 1,255, Reward = 1st Target 1,210, 2nd target = On 20 Points trailing.
k.) SHORT 1 lot @ 1,238, another SHORT @ 1240.  
Ok, not all check because not everything is perfect when you enter a trade.  Now let see what i mean above.
FKLI Daily / Weekly Chart

Now, lets roll the DICE !!!!

2. Overall uptrend health on FCPO  
It seems like palm oil might be following the same fate as his rival, soya bean. The apple wont fall far from its tree this time. Nonetheless, I have maximum tolerance for this retrace as describe in the chart below. Either way, I am not going to do anything with CPO, it might be just a crappy sideways market from now on. We might have a trade set up in there is another LOWER HIGH or HIGHER LOW.
FCPO Daily Chart

P/S: I cant believe I am writing all these for FREE. Sharing is caring. So please leave a comment if you wish.
Disclaimer: The author is not liable for any loss incur due to this write up and trade recommendations made by this websites.


  1. hi,

    sorry, may i know what is your name ?

    i knew one guy from chinese cari forum that he n joined the grand pine future course (rm4500), walau ehhh.....

    according to him, this system indicator them to buy long for this month nov.

    he long at 1254


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