Market Curiosity: Exploring Markets And Systems

September 17, 2012

Wheat – Interesting NR7 occurrences – looking to go long on a buy stop. + 21% (update 3, Sep 17)

Filed under: +06 to +25% — Tags: — Jeff Fitzmyers @ 12:00 pm

Buy stop at around 898.
+ NR7 today helps offer low risk: Stop loss around 879.
+ Very much looks like a bull flag.
+ Medium term RSI (magenta) seems to be turning up.
+ The current correction is almost 2 months old.
– Still a fair amount of down volume on down days.

Update 1, September 12: Move buy stop down to todays high around 893.5. If filled, stop loss around 865.

Update 2, September 14: Took partial profit at 926 due to touching the top of the channel, +43%. Raise stop loss to beak even.

Update 3, September 17: Stopped out at beak even. This is exactly why partial profits are wonderful. (43% + 0%) / 2 = +21%

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