Tuesday Briefing Update
Quite some movement today across the board. Before I get to the daily update I wanted to do a quick update on the short term positions from earlier this morning:
Cotton – perfect entry at the 100-hour SMA. Time to lighten up but I’m holding a contract or two into my target, which admittedly is nearby.
I’m calling it nutty gas for a reason. Originally I was short but I had pointed out that the 25-hour was my line in the sand. Had to flip it after a strong candle up and it’s been fun ever since. I’m out now as it may be up to new shenanigans and I don’t have too much to hang my hat on up here.
Corn – I’m not loving this trade right now. Still in but my stop is above the prior hour candle’s high.
Great entry at the SMA on soybeans – I told you guys to wait for it 😉 I think this one could bust higher – holding it for a few mor hours.
Totally got busted with wheat – those cheeky bastards. But I may try another short right here as the NLBL is holding up. If it breaches higher I want to be long.
EUR/AUD is a goner – no interest in taking another position as it doesn’t know where it wants to go yet.
Okay, working on the daily post now…