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TomKirk

Cocoa horizontal range play

Long
TomKirk Updated   
ICEUSA:CC1!   None
Chart Patterns Rectangle
1
0
chartpattern rectangle
-56 week horizontal range
-Well defined boundaries
-Rising volume

-Break of upper boundary line, long 50 basis points
-Using commodities contract for difference as oppose to futures contract as my account size would not support such leverage
Comment:
Breakout or failure imminent, a surge in volume required to confirm and carry this move beyond the confines of this boundary.
Buy stop in place
snapshot
Comment:
Order filled, Long at 2275
Trade active
Comment:
Nice gap into the weekly open. If gap proves to be a breakaway gap, may revise target to a partial close and trail stop on remaining position
Comment:
Stop moved to 2220
Comment:
Stop moved to entry
Comment:
Price has reached 70% of planned move, 3 day trailing stop now in effect starting at 2443
Trade closed: stop reached:
Stopped out
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