SIMSCI daily chart snapshot

This is daily chart ended yesterday (29-May-2006). It is a nice picture of correction. After touching upper channel, it retreats. The main support is at 200-day moving average. I would prefer to concentrate on short site instead of hoping bull run comes back. Trade with the fact is more realiable.

I will be writing specific intraday trading for Better Trading Blog.

Have a profitable day

SIMSCI & HangSeng 29-May-2006

HangSeng

This is daily chart of HangSeng Futures. Bearish sentiment is still dominating with small improvement. Resistance is found at area of 16330. No significant signs of correction completion.

SIMSCI

This is daily chart of SIMSC. Directional analysis shows that bearish sentiment is still dominating but with low ADX value which indicates low trend strength. Bullish sentiment is at low but starts ticking up.
Moving average analysis wise, short term trend is still staying below long term trend , however, it starts ticking up from bottom as well. Market sentiment is still negative with slight improvement is observed.
From price action, as shown in the chart, SIMSCI is still moving within the recent downtrend channel. However, it has reached upper channel band.
These observations give me a feeling of short term rally is on its way while it is too early to conclude current correction is completed and uptrend will resume.

I am day trading SIMSCI. Specific trading strategy and analysis will be posted in
Better Trading blog.

Have a profitable.

SIMSCI 26-May-2006

Regional market lead by Nikkei and HangSeng are doing pretty.

Some trading opportunities appear in SIMSCI. Though, it failed to perform as expected in the afternoon session.

I have written SIMSCI trade for Better Trading Blog.

I will continue to write my market view in this blog and any specific trading opportunity for Better Trading Blog.

Have a profitable day

Writing for Better Trading blog

I will be contributing my analysis work on Stocks and Futures to

Better Trading blog

http://better-trading.blogspot.com/

Please visit the blog for more articles and charts

Have a profitable day.

Re: Short SIMSCI 23-May-2006

The mistake of the day is trying to trade out of choppy market. Short position was stop out at trailing stop 287.8. With -0.6 loss.

From the 12-min chart of SIMSCI it is indeed choppy. The decision to get into the trade on either side was wrong.

Here is 12-min chart.

Have a profitable day

Short SIMSCI : 23 May 2006

It is a choppy day with negative bias. I am interested in looking at Short side for the afternoon session.

Short level 287.2 with initial stoploss 288.6.

Have a profitable day

Re: SIMSCI intraday : Short

It was a very bearish day. And market moved in the way that I did not get my price setup correctly. Basically I did not have a chance to establish a position.

Here is the 15-min chart

Have a profitable day

SIMSCI intraday : Short

Sentiment setup is completed. I am looking at SIMSCI short position for the afternoon session. Currently, there is no clear price action setup. I am waiting for the opportunity to establish short position.

Have a profitable day.

SIMSCI & HangSeng

HangSeng Futures

It is not bullish enough to end current correction, while at the same time, though HangSeng is experiencing short term downtrend, down trend strength is weak.

SIMSCI Futures

I have yet to see any signal to end current correction. While I am not bearish as well. Curent down trend strenght is weak.

Have a profitable day

It is indeed a disappointed day. Stop loss was triggered at 297.8 with 0.6 loss. In fact , from 15-minute chart, a descending triangle was formed. It was rather bearish at that point of time.

Weekend is coming again.

Long SIMSCI: 19-May-2006

Sentiment is pretty positive to me. My entry setup is completed. I am keeping my Long position in SIMSCI at 298.4 with initial stop loss 297.8 for this afternoon session.

There may be some positive movements for today.

Have a profitable day.

SIMSCI short order canceled

Instead of going south, SIMSCI rebounds in the afternoon. Short order has been canceled as this is meant for intraday trading and setup is not completed. No overnight position is intended.


Have a profitable day

Short SIMSCI : 18-May-2006

Setiment setup is almost completed. I am looking at short position for this afternoon. It is time to dance with wolves again.

I am looking to short SIMSCI at 295.3 level and initial stop loss at 296.7.

Have a profitable day

Not so bullish .. yet. SIMSCI , HangSeng : 18-May-2006

This is daily chart of HangSeng Futures. Yesterday's gain did not give me too much bullish sign. Instead, correction doesn't seem to be over just yet. Sentiment indicator is still in negative zone.


This is daily chart of Simsci futures. Similar to hangseng, I am not so bullish now. The straight trend line of recent uptrend seems to be resistance now. Sentiment is still negative.

With Dow Industrial fell another 214 points, how bullish the sentiment can be today? I am watching for intraday trade opportunity today.

Have a profitable day.

SIMSCI trade close : 17-May-2006

This is a small intraday gain , entry 303.6 , exit 304.9 as profit target hit. It is indeed a small bull.

Not a bad day,after all. There are wolves in the market. Follow them, never go against them.

Wolves, usually hunt in packs, fight for their own benefit without fear. Once target is reached or missing, they retreat and dismiss.

The wolf is a carnivore, an animal suited for catching, killing and eating other creatures. Wolves prey primarily on large, hoofed mammals called ungulates.

Here is the 15-Min chart.

Have a profitable day.

Long SIMSCI : 17-May-2006

Sentiment setup is pretty positive. Nikkei is up again, with HK is still above +100 points gain.

It is time to dance with wolf again. I am looking to long SIMSCI in the afternoon session at 303.6. With stop at 302.

Have a profitable day

SIMSCI 15-min chart 16 May 2006

This is a quick trade on SIMSCI 15-minute chart. Negative tone is well set. And my short trade setup is established. Short level at 300 was triggered immediately after lunch break . Trade opened with stop loss at 300.5. Profit was taken at 296.50. The fall is bigger than I expected.

Have a profitable day.

SIMSCI 10-May-2006

I am only interested in long position of SIMSCI at 317.8 level with stop loss level at 310.6.

Have a profitable day