Tham khảo tài liệu 'diary of a professional commodity trader: lessons from 21 weeks of real trading_12', tài chính - ngân hàng, tài chính doanh nghiệp phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | I shorted the market on April 7. I was nervous with this trade from the onset. While the major weekly chart top was still the dominant classical chart structure the daily chart had completed a seven-week H S bottom on March 31. The market was caught between a boulder the weekly chart top and a hard place the minor head and shoulders bottom . April 8 was a one-day reversal. I jammed my stop and exited the trade on April 9 for a loss of two-tenths of 1 percent. Looking Back This market had a massive overhead rounding top on the weekly chart and an underlying head and shoulders bottom on the daily chart. As a general rule I rely on the most recent pattern. There are times of conflict on a chart. During these times it is often best to wait for a clear resolution. November Soybeans Textbook Ascending Triangle is Completed Signal Type Minor Reversal Signal One good sign of a bear trap is when a market spikes through a boundary line closes back above the boundary line the same day and then spends the entire next day above the boundary line closing higher. This scenario is exactly what happened in November soybeans on March 31 and April 1. I could have fully justified a long purchase on the April 1 close. The subsequent advance on April 15 completed a 10- week ascending triangle as shown in Figure . I established a long position of 2 500 bushels per trading unit of 100 000. FIGURE Symmetrical Triangle Completed in November Soybeans. Figure shows that as of the date of this writing the November soybean chart is building a 17-month ascending triangle on the weekly chart. This is the type of pattern that should lead to a magnificent trend and will be a chart to watch as 2010 progresses. FIGURE Massive Symmetrical Triangle Base Shown on the Weekly November Soybean Chart. Outlook for the Future Several markets stand out to me as markets to watch as time rolls forward. These are markets with extremely significant big-picture weekly chart structures under .
