The CPO ( Crude Palm Oil ) futures for February contract open at 2474 and closed at 2495 yesterday. The highest was at 2498 and the lowest was at 2445. The market ended higher with a white bar.If you look at my forecast yesterday, see # 1, and had put a sell, say at 2455 ( anyway, if you were uncertain, you could place the sell position at 2453), you would have been able to make a maximum profits of 10 points provided if you decided to liquidate your position before lunch. If you decided to prolong to after lunch, you would definitely have your finger burt! If you look again , the market open at the highest level of the 2464-to-2474 levels and in fact it was quite risky to enter the market, further more the entrance at 2455 ( or 2453 ) was a little bit late as far as this strategy ( after opening strategy ) is concerned ( see # 6, my posting dated 12th January). Well, sometimes you have to take the risk, guys! No risks no gain!
That's about it.
Have a nice trading day, guys....
8.42am
