Fed Chariman I think will be at the printing presses this morning fueling some mre demand for cotton.
Ascending wedgie is still in place - I am taking the view the uptrend is still in tact....for now and NOT broken.
I have implemented a stop loss at 1227 on the lot now. If this is hit then will make 7 points on the first lot, and overally probably flat on the whole trade.
Adding more LONG here
Started by
fluid
, Feb 22 2011 10:16 AM
4 replies to this topic
#2
fluid
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Posted 22 February 2011 - 10:33 AM
Fed Chariman I think will be at the printing presses this morning fueling some mre demand for cotton.
Ascending wedgie is still in place - I am taking the view the uptrend is still in tact....for now and NOT broken.
I have implemented a stop loss at 1227 on the lot now. If this is hit then will make 7 points on the first lot, and overally probably flat on the whole trade.
I would like to stress the rationale behind the trade:
The price is still holding above the ascending wedge on the daily charts.
Large gap down, usually filled.
Likely monetary stimulus.
Relatively tight stop loss, implies a trade worth taking, if only for a retest of the highs.
#3
dcengr
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Posted 22 February 2011 - 11:12 AM
I am sure your trading record on this board will remain intact
Qui custodiet ipsos custodes?
#4
dcengr
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Posted 22 February 2011 - 12:08 PM
Yup, record intact.
Qui custodiet ipsos custodes?
#5
fluid
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Posted 22 February 2011 - 12:23 PM
Yup, record intact.
Yes out at slight loss on that combo trade. Made on the first lot, overnight, and small loss on the two second lots. No regrets about the attempt/effort.
Currently position: NONE.
