Relative to the bobble we're in, which is at the same level as the previous congestion, it's not really time to exit. A better decision is to wait for confirmation with more upward price action.
However, given that Stochastics are oversold, we closed over the 8ema, and an Ag report is coming out at 15:00 ET today, I think the best decision is to exit and capture the profits we have left, which is about half of the maximum profits we've had during this trade, which was yesterday.
I sent a Tweet at 14:15 ET announcing our exit in case anyone needed to know, which gives 5 minutes until the full contract market close at 14:20 and 30 minutes for the mini-size contract market close at 14:45. I was trading the min-size YW contract.
Bottom line:
Entry: 748
Exit: 738 1/2
Profit: $95.00
Not the $650 profit as planned (see https://jmstweets.blogspot.com/2021/08/dec-wheat-looks-short.html) but at least its a win.
No comments:
Post a Comment