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38 When prtcos carracied again, I was stopped out with my profit of 70 points each for 20 coruracis. I placed a buy stop to purchase iwnnty-five ot just above the iiigh, sod \gH the buy stop above the Ross hook in place. SF 5 HIMUTE 1 was fiJitid a twenty-five lot on my buy stop above the previous high at 37700. Prices closed a tick below me. My stop loss was $250 per contract back, and ny cost covering stop was two ticks above at 37710 SP 5 HlhUTE ll 11 37740 37725 37710 376 5 37680 37665 37650 37635 3762G 37605 37530 37575 37560 37545 3753G 37515 37500 374B5 37470 37455 37440 37125 37410 373 5 37380 3736S . buy 3 JHli ll ll 3 3 377S 37740 37725 37710 37695 376B0 37665 37650 37635 37620 376G5 37590 37575 37560 37545 37530 37515 375G0 37485 37470 37455 37440 37425 37410 37395 37380 ?.2A
Prices gapped open on the next bar and raced higher. I covered costs on twenty-five lot by selling a five lot, and pulled my stop to breakeven. I aiso got tilled on my Ross hook fifteen lot, and covered costs for it by selling another fjve lot. When 1 covered costs on my (ifleen lot, prices were still moving up. I moved my protective stop up to cover half the profits on my twenty lot. While 1 was at it prices moved up a tad more, and I protected my ten lot. Within seconds, prices started to race back down, SP 5 HIMUTE I ni I U 3 8 9 37755 37710 37725 37710 37695 376B0 37665 37650 37635 37620 37605 37590 37575 37560 37545 37530 37515 37500 37435 37470 37455 37140 37425 37410 37395 37380 This market was now, by my definition, in congestion. I had four cioses within the price range of the bar Ive marked with an "x." The lower limit of the congestion is bar number 2, which is also a Ross hook. The upper limit of congestion is bar x, also a Ross hook I was Slopped out and had to wail during almost the entire fiext bar to find out where my fills were. I had dumped twenty contracts al a 20 point prolit, and ten contracts at a 1 5 pomt profit. I also tad to take a restroom break while I waited (or {he phone lo ritig. Once the broker called witft my price, I was able to place my order above the new Ross hook. S? 5 HIHUTE fcny rieu Old Rb -> 3 6 9 37755 37740 37725 37710 37695 376GG 37665 37650 37635 37620 37605 37590 37575 37560 37545 37530 37515 3750G 74 5 37470 37455 37440 37425 37410 37395 373 0
Since prices were correcting, I placed a buy stop above the correcting bars high, as vell as above the Ross hook. SP 5 buy .3 3 9 37755 37710 377 3771G 37655 376 0 37665 37650 37635 37620 37665 375% 37575 37560 37515 37530 37515 37500 71 5 37170 37155 37110 37125 37110 37395 73 0 Once again i was long a twenty-five lot wilh a stop 5250 away. I was able to cover wiih five contracts at 2 ticks. That put me 5100 to the good. I was in the market at 37735; i covered at 37745. Tho market moved to 37755, so I fivoved my stop up to 37740 so as not to lose on the twenty contracts J had left. I was also long a fifteen lot at 37750, with my stop loss for those contracts $250 away at 37700 f had covered costs early with two ticks, just in case prices didnt c)ear ihe Ross hook of three bars earlier. 1 also wanted to be in the clear on costs for this set in case 1 breakout of the Ross hook was filled. S? 5 niHUTE fi 37755 37740 37725 37710 37695 76 0 37665 37650 37635 376Z9 37605 37590 37575 37560 37515 37530 37515 37500 374 B5 37470 37455 37440 37425 37410 37395 373B0
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