Fed Janet Yellen, the supposed "Dove" Chief has become "Hawk" on her 1st chaired meeting, giving guidance on expected period when rates will start rising and so on. This has driven most currencies to trade lower against US$, and monies leaving for US$...
On the chart front, many indices have fallen, & STI seem to have entered a renewed downtrend.
I used short term EMAs with 7, 13 & 26 days, and all are set to cross tomorrow (21/3/14), all it need was for STI to close the same or lower. Trading is never easy, as some of you may noticed that just 4 days ago, 14/3/14 when the STI opened below the EMAs but closed up, and almost seem like a fake breakdown but has since come back down with a breakdown signal again.
And I hate to trade on Fri, 21/3/14 as you never know what is going to happen over the weekend, but it looks premature if one is to close the trade intra-day leaving profit on the table. Just look at the previous down cycle, 24/1/14 STI open & closed below EMAs, then 27/1/14 opened with a gap down at 3038, if one is daring enough to use Put Warrants or leveraged instruments such as CFD, it would have been a 10% immediate gain over 2 days period.
May the trend be with you...
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