Today I had get out my long position and I short at 1339. The reason I doing so is due to my entry point was wrong already, and if I hold till the end of the signal, the result of this trade will be uncertain. Since the entry was wrong already, so I have to pull out myself from the market and waiting for next trade. From this trade, I had learned that entry point is very crucial in deciding your exit point. If your entry point was wrong, then it is very hard for you to follow he signal till the end and hope for some return. As a result, once wrong is always wrong!!! So why don’t just get out yourself and waiting new fresh signal. Emotion…Emotion…Emotion, I think I still need some time to get rid my emotion in trading. So next time I really have to fully commit to the signal I trust all the time.
Anyway, as I look at the daily chart of our cash market, I noticed our market had achieved a series of higher low as you can see from the graph and the strongest resistance still capped at 1350. This consider an ascending triangle in our cash market and if the cash market able to break 1350 will significant volume, I would say our market potential to achieve new high in the future. 1350 will be a crucial psychology level because lot of people who long at this price lead to disaster and there are other group of people who make a lot of fortune shorting at this price. We don’t know where will be the market heading, but the direction will depends on which side stronger and remember always follows the stronger side.
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