Above is an hourly chart after the market Close. We closed above the 8ema, above the 3ema, and a BB/KC Squeeze Breakout has begun. Stochastics still not overbought. All this is bullish for our long trade.
I had an appointment this afternoon and had to leave at 13:15 ET, so I couldn't be at the computer for the market close. I sent out this Tweet at 11:42 ET:
"Can't be here for the Grains market Close today, but expect to continue holding our long position for the November Soybean Futures Butterfly pattern over the weekend, unless of course it hits our break even Stop at 1318 before today's Close."
Fortunately, things went as expected and we're still long.
P.S. "BB/KC" is Bollinger Bands/Keltner Channel. The BB's are thin, squiggly, light blue lines above and below the candles. The KC boundaries look the same but darker blue. The BB's are based on Standard Deviation, while the KC is based on ATR (Average True Range). Notice how the BB's were inside the KC, then between the last candle and the candle before it, the BB's broke out of the KC. That usually indicates there's about to be a big move.
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