Market Curiosity: Exploring Markets And Systems

July 10, 2011

December soybean oil — looking to go long. (update 4, August 23) -8%

Filed under: -05 to -24%, Futures Trades — Tags: — Jeff Fitzmyers @ 8:34 pm

Of course the safer entry was the NR7 2 bars ago, but I missed it. A buy stop at the previous bar high and stop loss under should do fine.

Weekly chart.

10, 20, 30, 40 year cycles — seems to be a turning point about mid July.

The MRCI monthly chart shows, relative to past lofty price levels, a lot of consolidation at a high level.

July 13: Long from 57.64, stop loss at 57.2. If price fills the gap, it should not go much lower. In fact it might be a good idea to take partial profit if price is not strong tomorrow.

July 18: Stop loss moved to 57.44. Price “should” not go below this.

July 19: Moved stop up to 57.5. Almost a good idea to stop and reverse.

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