Corn - Correction, following Wheat price action

73 5 3
It doesn't look as strong and promising as Wheat             , but the pull back which started yesterday can go further up to retest 380 +/-area.

- Price reached a possible supp/res zone of 351-363 area. Heikin Ashi candle pattern with haDelta/SMA3 suggests there is increasing chance for a pull back to retest Kijun Sen and the Kumo.
- Upper key levels on the weekly: 384 / 400 / 420

I am in a small counter long position.
Interesting graph! I'm looking at corn to try and predict poultry stocks. You seem to know alot about corn so wondered if you think there is a correlation between the two?
Kumowizard Daniel Morgan
To be honest, I hv no idea about such correlations. Also, what I know is related to rather Ichimoku and Heikin Ashi analysis than to any special asset, like corn.
May or may not be correlation... but I think at the end of the day no one really knows what is the real driver behind a certain price action. That is the advantage of technical analysis: the only thing you have to follow is price and trends. You don't have to know in all details why it is going that way.

Yesterday I met one of my best friends, who is a professional investor (fund manager). This was one topic we discussed, so that you may have an excellent macro analytical skill and a great macro view on something, but if your timing is too early, you can suffer a lot before you'd be right.
Daniel Morgan Kumowizard
Yes I agree with you to an extend. I personally invest on a top down approach like your friend and due to timing am trying to learn more about the technical analysis. You recommend any good beginner websites for technicals? I've been lucky with some timing however sometimes am right about the fundamentals but am too early/late. Worst possible feeling is being right and still losing :)
Kumowizard Daniel Morgan
I can only recommend one thing. Chose one very very simple system, and ALWAYS STICK TO IT! Forget about trying to find the Holy Grail in tech analysis!
You must never change your concept. Build a simple system with well defined entry and exit strategy + risk and money management. Ah, one more thing: you must build in volatility into your position sizing, by using ATR for example.
Daniel Morgan Kumowizard
Thanks for the advice. I will keep working on the technical side. I already use ATR as part of my risk management/position sizes and find it very useful. I'll look forward to your future analysis.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out