SKPETRO formed higher low

Believe many investor who follow the buy call on previous buy manage to earn some money even thought it went up more than expected but in trading winning is winning :).. It is always better to be positive than negative.

Previous buy call

Buy Call on the 13 October
E ( Entry) :2.44 ( Closed at or above it)

S ( Stop Loss) : 2.42     

P ( Profit) :2.47

RRR (Risk to Reward Ratio) = 1.5 (Average)

 

E ( Entry) :2.44 ( Closed at or above it)

S ( Stop Loss) : 2.42     

P ( Profit) :2.51

RRR (Risk to Reward Ratio) = 3.5 (Rewarding)

 

E ( Entry) :2.44 ( Closed at or above it)

S ( Stop Loss) : 2.42     

P ( Profit) :2.53

RRR (Risk to Reward Ratio) = 4.5 (Rewarding)

Buy Call on the 31 October 2012

E ( Entry) :2.54( Closed at or above it)

S ( Stop Loss) : 2.5  

P ( Profit) :2.63

RRR (Risk to Reward Ratio) = 2.25 (Rewarding)

Now it is another round of chance.

Indicators

1) Trendline -  above the Uptrend (Bullish)
2)  Support/Resistance - formed higher high and low  ( Bullish)
3) MACD - Postive (Bullish)  Waiting for 4R1G signal for more bullish attack 
4) RSI -  Rebound from 7 0% (Bullish) 

5) STO - Broke below 80%(Bearish) . Waiting for break above 80%

6) Ichimoku - a) Broke Above  support cloud (Bullish). 

                       b) Conversion line above the base line (Bullish). 
                       c) Price above the baseline ( Bullish)
7) Candle stick - a white candle after dragonfly doji .. Click here to understand more



Conclusion:
Bullish -

E ( Entry) :2.90 ( Closed at or above it)

S ( Stop Loss) : 2.8    

P ( Profit) : 3

RRR (Risk to Reward Ratio) = 1(Average)

 

E ( Entry) :2.90 ( Closed at or above it)

S ( Stop Loss) : 2.8    

P ( Profit) : 3.05

RRR (Risk to Reward Ratio) = 1.5 (Average)

Resistance = 2.89 / 2.93 / 3.08 / 3.33

SUPPORT AT 2.83 / 2.8 / 2.73 / 2.68 / 2.65