timwest
Long

Corn ZCH2015 March - Daily - Buy Signal on dip to 11-day mode

CBOT:ZCH2015   CORN FUTURES - ECBT
268 7 7
406 Target, 377 stop. 384 ideal entry. 385'6 last.

See the Dec Corn             Chart I posted.

6 Days to reach target... ideally.

Tim 1:42PM EST 11/18/2014
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Any updated thoughts on March Corn Tim? Looks like we sold of when close to 400, but it's still holding strength.
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Corn is putting in a potential topping pattern. If price closes under the 377 level then it will trigger a sell signal with T1 at 371, T2 at 355 and T3 at 348.
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Would you say a 1 atr risk buy would be in order here Tim?
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timwest IvanLabrie
Corn is in the choppy, sideways, consolidation here and buying it down under a previous day's low and exiting up about 1 average range with a 1 average range stop is the way, I think, to trade it. This is a wave-2 type of consolidation against the wave-1 uptrend from the lows around 330-400. It could be wave-2 for a little while longer - perhaps another 3-4 weeks.
+1 Reply
Very nice, thanks!
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It was a great rally from the low up to here. But, getting stopped out always hurts. But, we live to trade another day. Looking at Crude Oil next for a long position to set up.
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devinchi timwest
Thanks tim,the game is win some lose some u are doing great and am learning a lot fro your set up.
+1 Reply
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