Date of entry: 13 June 2011
Shorted FKLI On Break Down
I shorted FKLI June 2011 Future Contract at 1542 for 1 contract. The price finally broke down recent low. I only committed 1 contract (half of my usual size) because I expect the price to bound before continue the downward. If it does not, a least I have 1 contract shorted.
Date of exit: 14 June 2011
Exited Earlier On Breakeven
I longed to exit the trade at 1541 this morning after it touched the low of 1536 and formed a hammer candlestick pattern. The price is now 1545.5 forming a bullish candle. What a trade!
You are on the right side but late-entry, why don't try on a smaller timeframe chart instead of 120min..just to share an idea.
ReplyDeleteNajib
Hi Najib,
ReplyDeleteThank you for your suggestion. I back tested using 1 hourly chart before, but the result was not good.
Since you suggest, maybe I will relook again.
Thanks
Abel