Friday, February 4, 2022

March Bear Corn - Update 2



On today's Daily chart above, you can see we formed a Bullish Harami candlestick pattern. This is concerning for our short trade, but we closed below the 8ema and Stochastics are still in the mid-range. 

We made a lower high, but also made a higher low. It's possible we just go sideways until the WASDE report next Wednesday. It's also possible we're in the process of bouncing off support from the swing high on 12/28/2021.

So, while not a confident decision, I decided to hold the position based on all the bearish indications that got us into this trade plus the fact we closed below the 8ema.


No comments:

Post a Comment