Tuesday - 25th November 2008
8.30 a.m. - Malaysian Time
8.55 a.m. - a little bit of updating
Can you be really sure that if you follow the trend, the chances of winning the trade is better? Well, it is hard to say. Sometimes you may loose a lot if you do that. I give an example; the market is now on the way down and you expect the market to go further down and so you put a short and suddenly the market go against you and it goes passing your stop loss. You do it again at a different level and again it goes aginst you, so you loss! Or after placing the short, the market goes against you and after passing your stop loss, then only the market starts to fall down. By this time, you have already loss quite a lot!
So, let's get back to my forecast for today:
The market , in short term, is still bullish, so is the very very short term.
1) If the market opens between 1493 to 1503. Buy after the market has passed the level between 1504 to 1510. Any profits, just lock them up, man.
2) If the market opens between 1468 to 1478. Sell after the market has passed down the level between 1460 to 1467. If this happens, the market may fall further and a black bar may be formed today or at least in the early part of the day especially if the market manages to pass down the level between 1445 to 1451.
3) If the market opens between 1443 to 1467. Sell after the has moved up a bit and then falls down 5 points below the opening level.
4) If the market opens above 1530. The market may go up further
5) If the market opens below 1375. The market may fall further.
6) Other than the above. It is your call, I just do not know what to say.
7) Look for trendlines - a clear pattern, off course.
8) Please refer to #9 ( Thursday's Tips dated 26th June 2008 )
9) Also refer to # 9 and # 10 ( Tuesday's Tips dated 1st July 2008)
That's about it. If not sure , do contact your broker ( CPO futures dealer) or may be your Yoga teacher!
Have a nice trading day.