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What do I mean when I talk about chart structure and why do I think it’s so important when deciding to enter or exit a trade? I define chart structure as a slow grinding up or down trend with low volatility and no chart gaps. Many of the great trends that develop have very good chart structure with many low…
Mexican Peso—The Mexican Peso in the June contract is trading higher by 38 points at 4944 as prices are hovering right near a 3 month high continuing it’s bullish momentum. I am now recommending a bullish trade while placing the stop-loss under the March 8th low of 4575 as the risk is around $1,800 per contract plus slippage and commission…
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Sugar Futures—Sugar futures in the May contract finished slightly lower this Wednesday afternoon in New York down 2 points at 15.14 a pound as prices are hovering right near a 2 week high. I am keeping a very close eye on this market as I’m looking at a bullish position on any type of weakness as I believe the risk/reward…
Crude Oil Futures—Crude oil futures in the May contract is currently trading lower by 1.77% or $1.05 a barrel at 58.28 as prices remain choppy over the last several weeks looking for some fresh fundamental news to dictate short-term price action. At the current time I’m not involved as this market remains choppy, however taking a longer-term view I think…