Missed trade on Wheat! Started a missed trade tab on my WGMGM spreadsheet
Can 't sleep, which is unusual for me.
I have been reviewing my trades and noticed something on the Soyabean chart. The price had dropped sharply then reversed to form a hammer/pin at a level I had already marked as weak support and was surprised at the reaction.
Looking at it more closely now there is a gap which formed on March 9th (yes...three months ago) which corresponds with the level exactly. If I was able I would close this trade now as it is clear the price is consolidating in anticipation of a reversal and could very well gap up on the Monday open.
Reversals at gaps are such a consistent phenomena I am started to wonder if I should be trying to trade them rather than breakouts.
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