The 10-year looks set to complete a head and shoulder failure pattern again. I caught the last one for a nice profit. I will be looking to go short with a break below 118’045.
Category: Trades
Soybeans-Possible Top
I was stopped out of soybeans for a loss yesterday. It is looking like Soybeans has topped. I will go short with a break down of the rectangle. The grains tend to top in the spring time.
Short Soybean Oil
I took a short position with a stop at 80 and a target of 70.
Long Soybeans
I am long the November contract with a stop at 1520 and a target of 1680.
Long Eurodollars
I am long the December 23 contract. Stop is at 96.825 with a target of 97.625.
Charts on the Radar
Bonds look set to stage a relief rally. I much prefer these patterns morph into a failed head and shoulder. I would rather be short than long.
The euro dollars (December 23 contract) looks cleaner and more consistent with a bottom. I will take the trade either way.
The 10-year is a possible candidate for a short.
Soybeans are making a rectangle. I will take the trade in either direction.
Soybean oil is repeating history. I may take a long side trade with a break above 81.5.
Positions Going Into Next Week
One position-Long silver.
STOCKS | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
Total Open Profit/Loss Stocks | ||||||
FUTURES | ||||||
Symbol | Position | Date Position Opened |
Price Position Opened |
Week Closing Price |
Percent Change |
|
SI | Long | 5/18/22 | 21.4 | 21.765 | 1.71% | |
Total Open Profit/Loss Futures | 1.71% |
Bottom Hunting in Silver
I am long with a stop at 20.40. I rarely go bottom hunting but this just looks like a bear trap to me.
Third Time A Charm
I am giving Crude one more shot on the long side. Stop is at 109 and a target of 130.
Wheat Trade
I missed the KC wheat move. My orders never got filled. I am chalking it up to a missed trade.
The next best is Chicago wheat.
I have my orders to be filled at the 1150 mark for now.