May Corn is displaying several bullish indicators. Went long today from 376, stop loss at 365, and 3 possible targets.
See the 7 minute video at https://youtu.be/QRiGGO9OlTU
for all the details including what the bullish indicators are and a trading plan, with targets and risk/reward information.
Correction: The video said Wheat was already going up. That is wrong. Should be ZM Soy Meal.
Clarification: The video said 1 in 19 or 1 in 20 candles close outside the Bollinger Bands on average. I remembered where that comes from and its 1 in 20. Therefore, 19 out of 20 candles should close inside the bands on average.
Here's why. The default settings for Bollinger Bands is 2 standard deviations, which is what I use. 2 SD's include 95% of all the data in a data set. The data set here are closing prices. So that means 5 out of a 100 candles will close outside the bands on average. If we reduce the fraction to lowest terms 5/100 = 1/20. Viola, 1 out of 20 close outside the Bollinger Bands.
Correction: The video said Wheat was already going up. That is wrong. Should be ZM Soy Meal.
Clarification: The video said 1 in 19 or 1 in 20 candles close outside the Bollinger Bands on average. I remembered where that comes from and its 1 in 20. Therefore, 19 out of 20 candles should close inside the bands on average.
Here's why. The default settings for Bollinger Bands is 2 standard deviations, which is what I use. 2 SD's include 95% of all the data in a data set. The data set here are closing prices. So that means 5 out of a 100 candles will close outside the bands on average. If we reduce the fraction to lowest terms 5/100 = 1/20. Viola, 1 out of 20 close outside the Bollinger Bands.
No comments:
Post a Comment