The Daily Bar- 9/30/2015

March 16 Wheat- Daily Bar

March 16 Wheat- Daily Bar

March 16 Wheat- Daily Bar

The short signal was elected today based on the signal generated by the Key Reversal off of the Over Bought Stoch and Negative Divergence.  However, that position would have reversed to Long on the Outside Day created from the Inside Day on 9/29/2015.  This puts traders back into a position in agreement with the Positive Aspect and upward sloping Trend Channel.  The next area of Resistance will be 521^6 (.375) and then 533^0 (.445).  This has been a pretty robust uptrend channel, so a Two-Bar Trailing stop would be suggested for the time being.

 

HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.
Forex trading, commodity trading, managed futures, and other alternative investments are complex and carry a risk of substantial losses. As such, they are not suitable for all investors.

 

 

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