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104

2325

;iH= 5vJ)= 5 B=8515 0=2367

H=2376 L=? C=2293

Figure 32 0519. By not seeing the ledge that would have enabled to participate in the up-move that followed in Bean Oil, I missed the entire move because the weekly oscillator kept pointing down. By the time it pointed up, the daily oscillator was well into overbought. Since I had no further basis for entering a trade to the long side, I stayed out.

The weekly oscillator went flat, and by the time it pointed up, the daily oscillator was again overbought.

When the weekly oscillator finally gave a signal to go short, the daily oscillator was oversold.

I really didnt mind because, over all. Bean Oil was just in a huge sideways trading range. But I regretted missing that upmove although I was thankful that my methods were keeping me out of these possible whipsaw moves by the market.

Range High = 2434 Lou = im (Full Line)

Outer High = 2453 Lou = 2330 (Dotted Line)

Imr High = 2421 Lou = 23 HidOut Hi = 2446 Lo = 233? (Dashed)



1570

1512

1455

1397 1340 1282 1225

1118

siocs

M-- 58 yJ)= 58 Ii= 8519 0=1165 H=i286 L=il58 0=1205

Figure 33 0519. The weekly oscillator for Cocoa had been flat, but began ointing up on a breakout day which brought the daily oscillator out of oversold. I placed buy stop at 1207 and was filled the next day at that price. My initial stop was below le low of the previous days low, far from the price action, I would have to wait a Duple of days before I could move it up.

Finally prices gapped up. I moved my stop to just below the close of the day the gap. The next day, I was stopped out at that price for about a 20 point gain.



2366 tfH#i<-

2188

2B86 1993

hook:

Hilled

ri"topped out

1988

xH= 28 yj)= 28 D=B519 0=2292

H=2299 L=2282 C=2299

Figure 34 Ive shown with the arrow where the previous envelope for Bean Oil had been located. 1 had been unable to enter any trades via the oscillators, as they kept on being out of synch with each other. Nor did I see any other basis for a trade during April and May while prices retraced back up into the range of the previous envelope and stayed there until about the third week in May.

On 0519, the weekly oscillator had been steadily dropping, and the daily oscillator had just come out of the oversold area. In essence, what I had in front of me was a Ross hook, if prices dropped below the recent low, chances are it would be a good short. I placed an order below the low of the day at 2281, and was filled the next day as prices dropped sharply. I moved my stop to breakeven.

Ive shown the ensuing stop placements, until I was finally stopped out on 0605, in the six or so days of congestion that took place in the first week of June.



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