Now is when we should have entered this short trade. Now that we have confirmation from a continuation candle to the downside. This, of course, adds to our conviction we're in a trade with good chances for success.
We formed a lower high and a lower low, while Stochastics are still in the mid-range. These are constructive for our trade.
However, the candles are getting smaller and the volume is also getting smaller. These are not constructive. Although, today's volume bar is larger than the largest recent bullish volume bar 3 days ago. That mitigates the previous point somewhat.
We also got an assist from the Live Cattle, Corn, Soybean, and Wheat markets. They all took a nice nose dive today.
Being a Friday makes the hold, add, or exit decision a bit harder because we have more risk waiting 3 days than the usual 1 day. But the decision to hold our position at the 14:05 ET lean hog market Close was an easy one.
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