Just entered this.
SOYB and WEAT and DBA also looking close to entry time . SOYB , has a signal on the fund but not on the futures and similar look for WEAT so I decided to wait on those . SOYB might be a morning entry if futures opens strong with continuity.
CORN entry I see what is potentially a major higher low we put in here ( maybe ) and still a valid...
Entry 1 on Failure H&S confirmation on 19 Jan with stop on 18 Jan close
Entry 2 on Wedge confirmation on 28 Jan, stopped on 2 Feb
Entry 3 on Rectangle confirmation on 7 Feb with stop on 4 Feb
Major Target 26.50
the failed head and shoulders gave an early sign of a bullish breakout of the rectangle
another half long position is at 23, which would confirm that the retest inside the wedge is just a hard retest, with continuation up to 26
RR maybe 5
Sign of Strength in the chart:
1. Green Pentagon with increasing volume
2. Strong Market Stages
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock
Equities took a dive last week from the Covid related catalyst, meanwhile I'm bullish and still green on agriculture and CORN calls.
I'm long JAN 23 calls up +17% . I'm looking for a run to $26 in the coming months. Will trim along the way. Stop loss break even.
I'm also long DBA calls (agriculture fund).
USDA report came out with below expectation for yield and plant acreage for corn & soybean. Lots of volatility coming up with most of the eyes looking at weather.
Possible bull pennant on Corn ETV and bull flag on corn cash. Keep your eyes on this one.
Food Inflation will soon be a concern for people. We don't eat lumber but we do eat corn!
While the FED only looks at core inflation (ex food and oil) if this new reversal trend
continues they will care very much believe me!
Excessive deficits, ZIRP (zero-interest policy) causing monetary inflation, coupled with
some fear is causing money to flow into...
the story's on the daily. apparently found a bottom and been strong since; 3 rising valleys now an ascending wedge. i took a small position at the green arrow, (late) tight stop here for equitable trade. a backtest of the broken resistance would be the ideal entry