Johnny Rock's comeback
- Thread starter johnnyrock
- Start date
Short corn for a swing trade. December contract.
priceless insight.
most people rather point to the finger to the market, the plan, the approach,
but seldom to themselves.
Short CL. Extremely tight stop. Just above the pause.
Scratched. $60 loss. New balance $4115
Corn Swing Trade:
Concerns
Concerns
- Heavy volume on the ETF has signaled, short term reversals on the daily
- Because I don't actually know if today's volume was a break down or exhaustion, I don't know of the volune is a positive or negative this time.
- Break outs can be heart breakers or money makers!
- Exit this trade when the 10 SMA > 20 SMA, indicating a short term change in momentum.
- MAs are lagging indicators, so my risk is greater, but this strategy should prevent a premature shakeout if corn is still too high.
- 50 SMA < 200 SMA
- Long term bear trend that broke another support level.
- Fake out to the upside before the break
- Record crop acreage planted 2017
Potential down day on the Nasdaq. Waiting for the 3bt on the 30'.
Short NQ
Covered. $960 gain. New balance $5,080.
New balance is actually $5075.