The weekend is here huh? Time really does seem to fly these days..
Alright lets proceed to our daily summary.
We traded to these following levels today:
FKLI
Opened at 1576.50 from previous close of 1574.50
High: 1577.50
Low: 1566
Close: 1569.50
Cash Index
Opened at 1580.18 from previous close of 1579.69
High: 1580.18
Low: 1566.55
Close: 1567.80
Wow.. what a day.. We expected today to be a range trading day, but also asked traders to be alert for a break out as we traded to a small bar in the last two trading days.
We opened at 67.50 and briefly went up to 77.50. After cash opened at 80, then went down to 75 immediately, which was par with April's contract at that time, I suspected we would have a break out. I park an order to sell at 75 when price was trading at 74.50-75. I could have hit the market at 74.50 but I didn't.
I never got filled, and price sank and sank to 67. I tried to save 1 tick and it caused me to lose the whole ride down. But all was not lost tho. After price went down, one of my traders Teo got filled at 68 while another account did not. It was a good bounce trade as price did went up to the 70-70.50 range for a nice scalp.
Price pulled back slightly to 69-69.50 after that and up to touch to 72 before lunch. We opened at 69 during lunch and sank down to make new lows at 66 for April contract and 63 for May contract. We did have another trade in the afternoon long 68 and went out at 68.50 and 69.
The chart on the daily chart made a lower low, so I am in favor for it to go back to test the 20ema.. but with the Bersih rally tomorrow and all, I think it is better to soh (sit on hand) and see what happens next week.
So wishing everyone a great weekend ahead! I will post the weekend update this Sunday and the trading levels on Monday morning before market opens!
Ciao traders!
Best Wishes,
Tech Trader
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