Weekly Candlestick from TC Pro- SELL signal

A SELL signal given based on TC Pro's candlestick expert on the weekly chart.

FOOD FOR THOUGHT. CAN ANYBODY GUESS WHICH WAY IS FCPO IS HEADING NEXT?

1. Indicator wise both RSI and the MACD are showing 'up'. 2. Chart pattern wise it broke up above a descending triangle but later it gave a false breakout above a bigger descending triangle and then retraced

. 3. Late Feb. it broke down a major rising wedge ( should be bearish) but instead it went sideways until now.

29/3/2013 ; BUY back 1st lot at 2378

I bought back 1st lot at 2378 today after being stopped out at the break  down of the bearish flag on the opening 26/3/2013. ( I should have reversed my position at the same time but don't have the guts to do it at that point of time).

Daily and Weekly charts ; BULLISH.

D

Daily chart; BUY signal on the 20/3/2013 and still rising.  Weekly chart; Candlestick pattern 'bullish harami' reversal is positively becoming a reality.

22/3/2013 ; 2483 (MAY)

Formation of a bearish flag. Still holding 1st lot BUY on 13/3/2013. Market will remain bullish as long within or above flag. Bearish if break down.

15/3/2013 ; FCPO - 2413 ; ALL INDICATIONS BULLISH REVERSAL

Weekly chart closed lower but all indications are showing a very likely bullish reversal is in the making.The daily chart is showing a bullish divergence on both the RSI and the Stochastic.The weekly candle is showing a bullish harami. A bullish movement is expected next week.

13/3/2013 ; BACK TO BULLISH MODE.

FCPO ended the day BULLISH as it broke out above the bullish flag near the closing.

13/3/2013- BUY 2nd lot at 2374 but sell at 2396.

I made another BUY for 2nd lot at 2374 and then SELL back 2396 just before closing for a profit of 22 pts. Remainder; 1 lot BUY at 2385.

13/3/2013 ; BUY BACK 1st LOT AT 2385

I bought back the 1st lot at 2385 when it broke above the pennant. I am not sure this is a good trade or not but let's see.

STOPPED OUT AT THE OPENING- 2435

My 1st lot was stopped out at the opening at 2435 . It was a breakdown from the rising wedge            ( bearish signal) to realised a profit of 66 pts

60MIN CHART - SELL SIGNAL

Initiated a SELL for the 2nd lot to realised a profit of just 9 pts. A small profit is better than nothing. The market hasn't been moving much lately as if waiting for something...remainder 1 lot left

8/3/2013 ; BUY back 2nd lot at 2445.

I initiated a BUY back for the 2nd lot as it broke above the Pennant at the afternoon session near the closing. TOTAL lots; 2 BUYS.

SELL 2nd lot to take profit

I sell initiated  a sell for the 2nd (2397) lot to realized a profit of 37 pts . It is a bearish signal.

7/3/2013 ; LIMITED DOWNSIDE POTENTIAL - ANOTHER BUY AT 2397

I decided to add another lot  to buy at 2397 at the afternoon opening . It has a limited downside potential when  in the bullish flag. Now total 2 lots.

4/4/2013; FCPO - 2367- END OF CORRECTION? BUY AT 2369.

FCPO ended the week at the low of 2367 after charting a high of  2585 on the 25/2/2013.It broke down since from the bearish flag and plunged down to form a falling wedge in which it gave up more than 200 points to close 2367 Friday. I suspect it to rebound since it broke up the wedge Friday 2nd session. I decided to buy the closing at 2369. From now onwards I will try to record my trades in this blog.