emehoke

Live Cattle Update. Small bounce could become big bounce.

Long
CME:LEM2021   LIVE CATTLE FUTURES (JUN 2021)
We got a small bounce at an important level, and now we are waiting for the trendline to break which would tell us it could become a big bounce.

At the moment we have price hesitation which turned into a pro gap. That's a good bullish sign. But, this downtrend has been very strong, and I'm not willing to be a minute trader for LC . This causes me to wait for the larger time frame candles to show verified momentum. I'm looking for a big green leg candle on the daily before I get involved.

Maybe I will change my mind, but I feel pretty secure with that strategy.

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