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Monday, January 24, 2011

Cut loss on Kencana

Everybody ask why i cut loss and why do not hold this longer. Well i rather cut loss to lose a bit and then collect lower and earn more.

1) Trendline - Broke far away from the uptrend line and will start to create a downtrend line temporary (BEARISH)
2) LL - Broke the previous Higher Low at 2.52 (BEARISH)
3) MACD - The blue line is getting further lower than the red line ( Bearish) and look at the Red histrogram getting longer
4) RSI - Plunging down quickly toward 50% (Bearish)
5) ADX - At momentum 49 and bearish - Bearish strong

Stop loss and wait for another sign of reversal towards next support at 2.47 and 2.35. So rather than losing money and hold until 2.35 and rebound i rather cut loss at 2.5 and the buy again at 2.35 if rebound and once reach to 2.5 at least i earn money compared to break even :)

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