Update 6th March 2018:
MA9 crosses down to MA16 on 5th March 2018. According to TKM v1, a SHORT entry is triggered. An order is placed and matched on 6th March 2018 on market open price, 2478 for FCPO May 2018 contract.
Profit taking target is according this 2420, 2400, 2370. Traders are advised to set trailing stop after each profit target cross. Stop loss is at 2560 (2530+30 points).
Good luck!
Weekly trend show sign of a rebound (not a reversal) by indicator. A reversal is confirm by MACD lines cross upwards. Weekly ending at 2474. This week market surprises by India CPO tax raises! Sometimes, TA and FA got overwritten by Regulations. This is a what Trader cannot see from chart and read from reports.
Despite the market move is very bearish for the this week price action and candle formation. However, MA9 and MA16 show no signal / trigger to trade. Our earlier trade was CL due to the market turbulences, it was indeed sad to see that after a day of CL, the market dive below our previous entry point.
Do watch out closely for Short signal on MA line crossing.
