Date of entry: 24 Sept 2010
Long CPO - Bullish Candle Stick Pattern
I longed CPO Dec 2010 Future Contract at 2709 for 1 contract. It is a white bullish candle. There is higher chance that the market could continue the upside.
Date: 27 Sept 2010
CPO - Potential Reversal
The price opened with a gap at 2755 and closed well above recent high of 2733 at 2735. I was nervous at time when the price dropped to 2717 (the low of the day). With the formation of 'hang man candle stick pattern', there is potential weakness market tomorrow. The price did not successfully maintained at the high.
Date of exit: 29 Sept 2010
CPO - Exit Long Position
I exited the long position at 2711 with a break-even since the price did not continue the up side. It might stay at range bound for the time being. Until there is break out, I will stay aside and wait
Ya, you are right, but remember the strong resistance at 2730 !
ReplyDeleteFred
yup hang man.... it is reversal signal but not confirm yet...
ReplyDeleteFred, you are on the mark about the strong resistance of 2730. Could you share more of your trading method here? Thank you.
ReplyDelete~ Chun