Cocoa horizontal range play

-56 week horizontal range
-Well defined boundaries
-Rising volume

-Break of upper boundary line, long 50 basis points
-Using commodities contract for difference as oppose to futures contract as my account size would not support such leverage

Kommentar:

Breakout or failure imminent, a surge in volume required to confirm and carry this move beyond the confines of this boundary.
Buy stop in place

Kommentar:

Order filled, Long at 2275

Trade ist aktiv

Kommentar:

Nice gap into the weekly open. If gap proves to be a breakaway gap, may revise target to a partial close and trail stop on remaining position

Kommentar:

Stop moved to 2220

Kommentar:

Stop moved to entry

Kommentar:

Price has reached 70% of planned move, 3 day trailing stop now in effect starting at 2443

Trade geschlossen: Stop wurde erreicht:

Stopped out