Possible Corn Buy

CBOT:ZC1!   Corn Futures
In a long term up trend we have a fail to break support , a break out of a shorter time frame's trend line , and a pullback (deep one, which is consistent with the idea of new starting trend) Besides we can see divergence in the pullback from the last long term upside movement.
So, I suggest to start a buy if price closes 1% above the most recent resistance zone around 710 with a 1 to 1.49 risk reward ratio.
As this could be the beginning of a new trend instead of take all the profit at the target of the 745 would be better just to take 2/3 and leave 1/3 run with the stop loss at break even (or at its original point if you feel more pro-adventure) to see how high it could get. The break above the elliott base channel would be a nice indicator that the upside impulse is more probable.


If you still in, place your stop at break even!
If you want to take part of the position if close below 730 i think it wont be bad idea, the rest put the stop at break even
Great! a new high if you want may place your stop at the last support 706.3
Not sure about corn, looks more a sell to me,,,
7pasos LEONES
I think if you zoom out to see since mid 2009, will find not so strange the idea of look for the end of the downside movement and the re-start of the uptrend again.