Wednesday, July 16, 2008

The trading session of July 16

I will describe the train of my thoughts. The price went down on the first 15 but than moved up. The solid sizes were under 1500. Generally, this first candle was suspected by me as the turning, because than the market started to move to the top. It is clear that, it doesn`t mean that the soy should turning globally, but there is a possibility that after some time it will happened. Starting from 02:45 I wanted to come with the limit down from 1520-27 or from 1510 through the market after 1510 has appeared for a
moment on the cluster ( 1510 it was if the worst comes to the worst). Up to 1520-27 (level) the quotation didn`t get up and there was entering in the market by 1509. I had the aim 1500. I was surprised when the deal wasn`t closed on a take profit, besides the level was gained ( WHC makes me sick of a such kind of tricks) I was forced to close by myself at 1499. Here we can find the answer: Why did I get in the sell? In general, the indications of a some number lots on the cluster is a good thing, but risky. That`s true, and I agree. As a matter of fact, I also test the comparative analysis of the oil and a soy. Geometrically I have situated them together on my indicator. When the prices of both come across, than often we have a stop of the movement. At this moment it is on the stage of a testing, but I like this effect more than a combo. So, there are oil on the market, as we see it on the one of pictures( oil - is a red
line) gone down, there was very strong bear`s sentimentalism. That`s why I sold it. Often the soy walks arm-in-arm with oil ( according to May`s analysis) and during the bumping we have the support of the resistance. When the oil`s quotation go down, I`m looking at the soy only as for sale. The second entering was made at the sell limit, when the price moved up to the level 1527 - the sell limit snapped into action. There was a rate level, besides the oil was doing nothing but standing in the place, it means that the soy was like led by something - and has jumped up to 1527 and the lead stretched. I came to 1522. And than I had a good opportunity to come in by the sell limit at 1536-1535. It is the rate level of the contract(in the leaders five), and there was a core from July`s 16. It would be good to sell it from the border!! But I have missed that chance. I've thought about it - fortunately I had a time.. But.. The movement stopped at the core of Monday`s 14 July. I have already been out of the market, but it was interesting to look at it after that. The result: today the market was technical - speculative on 90% minimum. Almost everything was processed, what could be processed.

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