Top chart is the 10 min at 7:20am ET this morning. The next chart is the same time on the Daily. We've come down to a low of 37.30, and the 61.8% retracement of our up leg is 37.35. We're below the Daily 8ema. All the other grains have been heading down and continue to look bearish.
I'm concerned we may have seen the high in the reaction to the AB/CD at 38.60. We just closed above the 10min 8ema, so we may be ok. But I'm moving the Stop up to just below the current low on the 10 minute chart, which is 37.28.
If the Stop is hit and things turn bullish again, we can always get back in. But moving the Stop will save us 37.28 - 36.50 = .78 * $600/pt = $468.
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