Since our exit from our long corn position (see previous thread), May corn has these Bullish indications:
- Bullish Engulfing Candlestick Pattern
- Bounced off 8ema
- Bollinger Bands/Keltner Channel Break Out
- Above all Moving Averages
- Higher Highs/Higher Lows
- Stochastics not yet overbought
What sealed the deal for me was the BB/KC Breakout. See the bottom chart in the red highlighted area where you can see the BB's blossoming outward past the Keltner Channel.
At 8:04am ET I Tweeted out:
"Back in on our Long May Corn trade from 588 3/4. Stop 565, Target 619. Details later."
This post contains the details. The Stop and the Target are the same as in the earlier trade. Here we go again.
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