a1Keith
Long

LIVE CATTLE futures . Long on retracement

CME:LE1!   Live Cattle Futures
Live Cattle -0.04% prices tend to follow clear trends , as can be seen by the descending channel from 2015 to 2017 (almost 2 years)
Options expiration is February 28.
I will look for support on the current parallel or retracement to the lower parallel for a long entry. Stop below previous low and take profit at 25 centile. Depending on price action I may keep the trade open and move stop up to 25 centile.
Possible trades are outlined.
I would become bearish if price falls below the lower parallel
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