Market Curiosity: Exploring Markets And Systems

January 30, 2011

Buying OJH1 with a tight stop as it touches rising trend line +18%

Filed under: +06 to +25%, Futures Trades — Tags: , — Jeff Fitzmyers @ 9:00 am

Buy stop around: 167.50.
Stop loss around:165.40.

+ Low risk.
+ Price has gone down 5 days in a row. Possibly time for at least a bounce.
+ Price would be able to whipsaw NR7 traders like me 😉
+/- Price under 34 EMA, but that tends to happen in OJ.
+ Nearby support of Bollinger Bands.
+ Daily CCI bottomed and seems to be heading up.
– Weekly CCI heading down.
+ Weekly 170 EMA rising.
+ Monthly CCI rising.
– Commitment of traders shows commercials very net short. Not ideal, but not unusual since OJ is nearing all time highs.

Feb 2: Price made a good move up but did not hold onto gains. Sold half for +15% and moved stop loss to break even.

Feb 7: had raised stop up to 171 and was surprised to be stopped out. +21%

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