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100 Trading By Tiie Boo!< - Part VI  Figure 20 0328. Bean Oil prices went into a trading range which lasted 23 days. I took the .164 envelope breakout to the downside because the weekly oscillator had turned down in spite of the fact that the daily oscillator was oversold. I pay less attention to the daily oscillator when prices are breaking out of an envelope. Another factor in my thinking was the momentum behind the explosive down-move of that large magnitude day. 1 was short, stop close only, at 2332 which was five points below the mid-out low of 2337. Obviously prices had come into the envelope like a lion and were now exiting like a lion. Ive marked my stops as they occurred and was stopped out at the high of the inside day that occurred right after the alert causing, large magnitude day that marked the bottom of the turnaround to higher prices.
7058 6965   STOC 5 3 D=0331 PRICE= 68.28393 Figure 21 0331. Live Cattle prices formed a ledge, so I called in an order to buy a breakout of the high at 6883 or sell a breakout of the low at 6831. Whichever way I was filled, the opposite side of the ledge would constitute my protective stop, I was filled the next day at the open as prices gapped down. I trailed my stop on down for four days and was stopped out as shown on the chart.
 XK= 34 -- 34 0=0403 0=1677 H=16B3 L16i6 C=16i6 Figure 22 0331. The same day that I got out of Crude Oil with a iucky profit, the low for the day formed a perfect ledge (two matching highs and two matching lows) as shown on the chart. I phoned in an order to buy a breakout of the top of the ledge (1675), or sell a breakout of the low (1 636). Whichever side would be filled would have the other side as its protective stop. \A/hen I am trading from a ledge, as soon as I am notified of my fill, I double the opposite side order (if it is not too far away) so as to make it a reversing stop. I was filled to the upside shortly after the opening, and my reversing stop (down 39 points) was hit later that day. Four days later I was out, having made back all but one point of what I had lost.
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