I am adding another contract of this spread as the spread seems to be very strong. Everything shows, that Lean Hogs could start rise again so the spread should be making profit. 1PT could be around 7 points.
This is merely an update of my historical chart showing much the same thing.
Good luck Traders & be safe!
End of ABC dwn, Re-test, small Gap fill visible on 5 min chart, 1.618 completion of larger Gartley pattern, etc
Currently Bearish but see Bullish entry in the days ahead
There is a big potential for the gorwth of this spread. Normal price difference of those 2 contract months is 10 points. (1pt = 400$)
I will have eye on this spread since i see it as a huuge oportunity, which i do not want to miss.
SL could be set below the recent low: -4.7
PT could be: 5-10
As i already have some contracts of this spread, i will add another...
I see this as the C leg dwn of an ABC or an ABC extension to the 1.27/1.618
I'm SHORT but looking to try a LONG likely at $42.25 ish
Two Gaps to fill below current $52.40 !!!
Wish you all luck trading!
Finally i have found the correct spread to trade Lean Hogs bull spread. This seems much stronger than others and is closer to the market, which usually means bet on stronger demand in the near future. From the 15 years of history, the spread is usually trading around 2 points. There is a good potential to get to those levels again soon.
Aggresive spread close to the market is set for seasonal growth. 15year averrage price of this spread is around 12 points. Therefore the price around 0 is way too low to let this spread go without us.
Entry: Once the %R will close above -80, entry the trade.
SL: SL can be set below the recent low
PT: Spread reached this year 8 points, so 1st PT should be about 8...
the market has broken level 1 fibo with force so there is a probability of going for level 1.61 fibo.
DISCLAIMER: As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level. Not every idea is a valid trade. This analysis is a trading idea, not a trading signal for you.
"Lean Hogs, Fat Profits" is what we titled this chart in last week's institutional note. Prices have ripped nearly 60% in just two weeks and are now approaching our objective at the 38.2% retracement and 2H 2019 lows. $HE_F
Dates in the future with the greatest probability for a price high or price low.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing date. Djinn Indicators work on all charts, for any asset category and in all time frames. Occasionally a Djinn Predictive Indicator will...
I read something today that caught my eyes.
The Tyson plant in Washington produces enough beef in one day to feed four million people, according to the company. It’s one of the few facilities in the northwestern U.S., with capacity of 2,300 cattle a day. Resuming operations is dependent on a variety of factors, including the outcome of team member testing and how...
We live in interesting times...and as much as I try to remove my opinions from charting, I must on this one. I'm sure many will disagree with my chart as I have forecasted a 3 drive to a bottom out of thin air (in yellow). Facts are, we have completed a BIG ABC & did get a small bounce which tells me (more downside). If you take the ABC and extend it to a 1.27...
Patterns tell the story with Fibs reducing risk for entries. The chart is self-explanatory so good luck traders.
I consider this a VERY LOW RISK TRADE for Futures. Match up fibs to your month/contract.
The Djinn Predictive Indicators are simple mathematical equations. Once an equation is given to Siri the algorithm provides the future price swing dates. The Djinn Indicators work on all charts, for any asset category and in all time frames.
Dates in the future with the greatest probability for a price high or price low.
