I wanted to show the longer term view. Corn has been bullish but I have patiently been waiting to short at the large bearish bat/2618 trade set-up (linked below). However if you zoom in you can see the potential buy set-up near the trendline based on 2 different bullish Bat patterns (yellow and pink). I will be watching price action near their completion points...
It's arguably a similar case to the former on wheat... Buying within the lowest decile in a decade, a very asymmetric return distribution, a potential break-out of the down trend.
We should enter longs in CORN at market open tomorrow, our risk is 85 cents down from our entry (whatever that is), so size your trade accordingly, risk 1% on the position, and aim for a 13.95% rally, to begin with. There's a possibility that this is a long lasting bottom in this commodity (and possibly many others), so don't miss out on the move. Good luck, Ivan Labrie.
Let's add to longs at market open, there's a chance a second 'Time at mode' signal confirms on close here. Move all stops to Sept. 12th's low, and open a 1% risk long, if we don't retest the new entry stop on close, we can expect a rally to 364'6 by or before October 25th. We should see a strong rally from here, and at least 3-4% more upside, before a pause in...
We have an interesting setup here, with oil suddenly breaking up above weekly resistance, and outperforming precious metals, I think we might see a shift in positioning towards oil, and a few laggards that show an increase in commercial long positions for some time according to the commitment of traders report. I'm watching oats, rough rice, soybeans, corn and...
If Corn breaks above the August 19th high, it could be a good chance to enter longs risking a drop under yesterday's low. You can apply this idea to the front month futures, or to an ETF if trading stocks, remember to use the prices corresponding to these dates for your trade parameters. If not filled in the short term, this idea is invalid. Good luck! Ivan Labrie.
same idea as the wheat trade using a calendar to get long the corn curve
soybeans and many other ags have rallied after dumping on the crop report and is possibly making a trend reversal after months of bearish action. I'm looking to pick up a long on a healthy pullback.
corn at daily double bottom, long off this support level or short on a breakdown
Many signs of bullish, nice opportunity guys! In the other hand remember that if the bullish channel is broken this hypothesis is discarded. CBOT:ZC1!
Looking for bullish set up on 4hr chart to get long
Corn has broken and closed below it's wedge on a weeky time frame. We are looking for pullback triggers to get involved to the short side. Targets are identified and the stop will come from the trigger (on a 60 or 240 min chart)...NO TRIGGER, NO TRADE!
Corn on the weekly chart is coiling and setting up for a great move. As we always say ...if you want strong moves that will last longer than a day then you need to watch the weekly charts. It takes patience to wait but they are nice when they explode. Stay tuned.
Above 998 and the squeeze will have shorts scrambling. A close above this area and we will be looking for triggers long.
ZC has been sold off stronger than most commodities, and its weekly Stochastics is at an extreme low reading. Note how it together with weekly MACD are beginning to turn up. The daily chart including today's action illustrates this bottoming action more clearly, but I've profiled this weekly chart to point out how ZC is currently beneath a long term down channel...