Well, soy up over 5% today, glad I was not on the wrong side of that move – this is really interesting as look at todays chart which is a beautiful example of a bollinger band breakout to the upside. All short bets of off now, this will likely be followed by some more upside price action – possibly one to trade now as a long. Todays market is a lesson in how you need to be flexible, to work with what you see – not what you want to see in the charts.
The charts are now clearly telegraphing – I want to go higher. Sugar, too, looks like it could move higher and I will start adding if it gains tommorow. As for the short – I set a sell order at 1385 which was not caught until 1422 – as my stop was at 1415 the bet was closed ‘immediately’ but there was some ’slippage’ and it was closed at 1426 for a £4 loss. Could do with some more of those low risk trades.
See the constriction of the Bollinger bands just before takeoff higher.
