Even with all of the volatility of the last week in the grains, November Soybeans is giving the signals to get long in this market using the Hi-Lo Breakout strategy which occured today, July 2.
Soybeans exploded sharply upward on June 29. Today, prices kept climbing and closed today at 897.6 cents, which is above the previous contract high of 893 which occurred on June 18. So, with the Trend Seeker showing an Up trend, and, now having a close above the previous high, I'll look to go long in this market. I'd like to enter this market as close to the old resistance level of 893 as possible. I have to admit though, that the fact that there's a huge gap under current prices does make me a little nervous.
To take a look at all of my completed trades, please to www.mylearn2trade.com.
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