SMP1! trade ideas
The Case for Milk with a Complete StrategyObviously you will have to select which targets you feel comfortable with on your own. One thing to keep in mind is target 2 may never get hit, unlike target 1 where there is a clear exit plan.
One way to execute that exit is If target 2 (previous peak in price) does not get hit, keep rolling the futures contract until it does or until stop for entry 2 is reached.
Another way is to close the position if structure invalidates a long position. Or take target 2 at a 382% or 61.8% retracement from entry.
Of course, you could always take target 1 for both entries!
Recent Milk analysis:
Advanced Pattern set-up in line with desired entry.
Class III milk Short playmomentum is building to the downside for a break below current lows. I expect this market to crush through this week and make new lows. As always, tight stops when market moves into profits lock it in. Low risk high reward
