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Greetings Traders!
As you know, I post a Market of the Week for Commodity traders.
This week is October Hogs.
Our FDate for Hogs is Today 9/11 with a cycle top due 9/12.
Earlier in the week while prices were higher, the Bias was still UP. If
you have yet to understand what I mean by the Bias, please go look at
http://FSoftPublishing.com/lessons/bias.htm.
That link is not available (yet) from my website pages so I have to give
it to you here for now.
Anyway, in 'anticipation' of a TOP for our Fdate, I mentioned the
possibility of entering long since we are expecting a Top in Hogs for
this day (+/- one day).
Since that time, the market continued its move down (which would have
stopped you out) to form a lower low. Yet, the cycle Top is still due.
So, it would appear that if a top will occur, if will be a top most
likely lower than the previous bottom. In a way, that is good!
You see, the move down has now changed the Bias to DOWN. This goes with
the Weekly Bias now. If we get a top BEFORE a bias change, this makes
for a good shorting opportunity.
I've updated the Range Calc graphic so you can reference the resistance
prices with actual data to decide on entry.
Have fun!
cheers!
:)
rick
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**** http://FSoftPublishing.com ****
Market Of The Week Forecast
http://FSoftPublishing.com/forecast/forecast.htm
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