*Note: Click on the picture above to view full size image.
By referring to the graph, it can be seen that a peak (head) was formed during 9 January 2008 to 16 January 2008. After the “head”, a sharp dip occurred in 22 January 2008. The market rebounded in the subsequent weeks and formed the shoulder to the head (peak) stated earlier.
Sharp downturn can be observed from the graph after the position of the “shoulder” and the downturn started from 27 February 2008 until the graph forms a trough on 17 March 2008. That was a very good opportunity to short the FKLI and then close out the position by taking the long position at the bottom of the market. However, the opportunity has been missed. Whatever it is, the same market pattern may repeat again later in the market.
FKLI futures recovered from the bottom of the market and fluctuated from 19 March 2008 through 16 April 2008. It formed “Double Top” and tended to go side line during the same period. On 21 May 2008, another downturn started to crystallize and it seemed like it would reach another market bottom soon. This is the opportunity that should not be missed by any skillful speculator.
Sharp downturn can be observed from the graph after the position of the “shoulder” and the downturn started from 27 February 2008 until the graph forms a trough on 17 March 2008. That was a very good opportunity to short the FKLI and then close out the position by taking the long position at the bottom of the market. However, the opportunity has been missed. Whatever it is, the same market pattern may repeat again later in the market.
FKLI futures recovered from the bottom of the market and fluctuated from 19 March 2008 through 16 April 2008. It formed “Double Top” and tended to go side line during the same period. On 21 May 2008, another downturn started to crystallize and it seemed like it would reach another market bottom soon. This is the opportunity that should not be missed by any skillful speculator.
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