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112 Trading By The Book - Part VI 7050 69% 6922 6858 6?94 6731 666? 6603 6548 {-stop (-stop K-stot 11  STOC 5 3 >iK= 19 vJ)= 19 D=8ei6 0=6899 H=6914 L=&887 C=689? Figure 56 0815. Live Cattle prices had formed a ledge. The weekly oscillator segment had peaked and its value had dropped somewhat. The daily oscillator had just entered oversold. It was anybodys guess as to which way the breakout would occur. I placed orders on each side of the ledge and was filled the next day as prices gapped down at the open. Then there were a couple of reaction days, and I truly didnt know what to do with my stop, so I left it where it was above the iedge. The third day after my entry, there was a large magnitude day with prices closing lower. 1 moved my stop above the high of that day. From there on, I trailed my stop on down as shown unti I was stopped out with a nice profit.
Trading By The Bool< - Part VI Figure 57 (below) This was my last Live Cattle trade for the year. I drew an envelope around the price action, but prices never broke out for the remainder of the year. There were also a couple of ledges, but they were not clear and I missed them. 7850 6932 669? 6638 6588 > k4 1 nissed tbis nissed ledge this ledge  STOC 5 3 1 0=5215 PRICE= 67.77232 Figure 57
Trading By The Book - Part VI 1829 1793 1757 1721 1684  yl 3 1  vl 60 7J)= 68 D=0817 0=1717 H=1724 L=1712 C=1712 Figure 58 0817, i called in an order to buy a breakout of a 1-2-3 low forrnation for Crude Oil, and was filled at 1724. I trailed nny stop at each retracement, and was stopped out the day after the triple gap when prices dipped down below my stop.
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