Cocoa horizontal range play

-56 week horizontal range
-Well defined boundaries
-Rising volume

-Break of upper boundary line, long 50 basis points
-Using commodities contract for difference as oppose to futures contract as my account size would not support such leverage

Note

Breakout or failure imminent, a surge in volume required to confirm and carry this move beyond the confines of this boundary.
Buy stop in place

Note

Order filled, Long at 2275

Transaction en cours

Note

Nice gap into the weekly open. If gap proves to be a breakaway gap, may revise target to a partial close and trail stop on remaining position

Note

Stop moved to 2220

Note

Stop moved to entry

Note

Price has reached 70% of planned move, 3 day trailing stop now in effect starting at 2443

Trade fermée: ordre d’arrêt atteint

Stopped out

TomKirk

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TomKirk