Tuesday, May 26, 2009

Possible Trade Setup

We have two possible trade patterns forming again in July Corn- an ascending triangle and a symmetrical triangle. The ascending triangle needs to break out tomorrow and the symmetrical triangle still has a couple days. I'm looking to buy a break up at 434 on the sym tri and 435 on the asc tri. Stops to be placed at 422.25 and 424.00, respectively. Corn found support at it's 10 day EMA today, but in consolidation mode the past 2 weeks.

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