Not Out Of The Woods

Yesterday’s low participation stop run on E-Mini came within a tick or two of my current trail which still sits near my break/even point. I assure you that there was no foresight or technical skill involved whatsoever and I’ll ascribe it to pure luck. We’ve had quite a bit of that in the last few weeks and it tells me that I probably shouldn’t push my good karma quota and treat lightly.

If you peek at the right panel you’ll see how participation completely disappeared after Friday and he bots were simply kicking the ball back and forth.

Unfortunately the price action overnight does not show any directional bias and it’s quite possible that this campaign meets its maker before the end of today’s session.

Things look quite a bit more directional now on our soybeans campaign which I suggested to the subs yesterday. Of course it couldn’t just take off without trying to stop us out first but I had suspected that much and decided to place our stop a respectable distance away below that recent spike low. So far so good and I suggest you advance your stop to break/even now.  Once again we are in a sideways range (on the daily) which may prevail, thus protecting our entry after 1R MFE is permissible.

Silver fell off the plate and I just got stopped out a little while ago. That is unfortunate but all isn’t lost just yet as we may get a second entry opportunity courtesy of the weekly.

And here she is in all her glory. I’m not surprised that silver is tossing and turning here as that weekly BB is compressing ever so tightly. A big move is on the horizon and I think the bulls have the advantage on this one on a long term basis. If this one busts higher there will be no stopping it and I strongly recommend you keep a watchful eye.

Anyway, the next setup in the foreseeable future will be near 18.56 where we have a weekly NLSL plus there’s a 25-week SMA that ought to provide support. If she drops this low I’ll be there to claim my constitutionally guaranteed long entry.

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