Wednesday, December 23, 2020

Corn Cup Forming - Update 5




It's 7:15am ET. I'm concerned that even though we're in the middle of a BB/KC break out, there's going to be a liquidation today or tomorrow due to the Christmas break. 

Also, look at how many green candles we've had in a row. Its easiest to look at the volume bars to see this. Not counting today, we have 8. I went back all the way to the beginning of this contract and the most green candles in a row is 7. The first 3 or 4 in this current sequence are Doji's, so maybe those don't really count.

If you look at the high Stochastics, the lack of a red bar, and a 4 day Christmas holiday, I want to employ some prudence. So I moved the Stop from 428 to 430, which is just below the 2nd candle back. 430 is also well below the 8ema. 

Moving from 428 to 430 doesn't make much difference, but its the beginning of trailing a Stop just under the low of 2 candles back.

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