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It looks like a inverted H&S pattern is developing in March Sugar.
Therefore
I am contemplating entering a trade Monday
Potential in H&S pattern = 12,90
Today 12/26 is an astroday, which sometimes coincide with Trendchange or
Break outs.
So what will it be Monday? B/O or Acceleration?
The three black candlesticks before last trading day could indicate we just
broke out of a small Flagg (3dayslong), and a break out is imminent.
Furthermore Mercury is going direct after a Retrograde period on the 27th,
so any reaction should be over and and we can continue in the underlying
direction
Larry Pesavento in his Fibonacci Rartios with Pattern Recognition remarks
that certain pattern has a tendency to repeat. Would that increase the
probabillity of the H&S pattern being completed?
I think so and I am planning to go long on Monday.
Does anybody have suggestions on how to enter this trade?
On a stop? Where?
At the market on opening? Why?
At the close? Why?
After 30 minutes, when the professionals start(?) buying/selling ?
Stoploss?
Any other suggestions?
Could be educating for the group.
Please post to everybody.
Regards
Stig
>
> Regards
>
> Stig
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