Short To Close FKLI - Long Tail Means Uncertain

Date of entry: 7 March 2011
Long FKLI March 2011 Future Contract
I longed FKLI March 2011 future contract at 1518.5 for 3 contracts. It is a bullish engulfing candlestick pattern after touching the moving average (purple line).

Date of exit: 8 March 2011
Short To Close FKLI - Long Tail Means Uncertain
I shorted to close FKLI this morning at 1819.5 with a breakeven as the price did not maintain at the high after touching 1529 forming a candle stick with a long tail.Two long tail appeared in a series of the surge would mean a temporary consolidation. Stepping side and waiting seemed to be the only way.