Buy ZMU16 – ZMZ16: long September 2016 Soybean Meal and short December 2016 Soybean Meal
Trade from April 2016 watch list.
April 14: bought 2 ct when 1-2-3 pattern occurred. Risk per trade 2 %. SL and PT set in accordance with support and resistance levels.
April 20: price significantly moved in my favor. I modified my PT limit order to sell 1 ct on original PT and 1 ct with new PT (based on next support level). Both contracts were sold on April 20. This spread trade made profit of 620 USD.
I checked fundamentals for the reasons of high volatility on soybeans futures – concerns over the crop in South America due to bad weather.
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