Trade ideas
Corn - short on the cob.....Corn has been over a long period within defined range. It appears a double top may have been made over recent months.
Price is now approaching an important support level.
If price breaks this level, we are looking to enter a short on a retest of the level as resistance.
Entry - 4.05
Stop - above the moving average cross
Target - bottom of channel 3.35
RR = 4
Corn - Looking Stronger BuyI have been hovering over the buy button on corn past week. Wasn't convinced enough to enter, and now heading back to Fib retracement towards $4. The closer to this the stronger chance of a rally - from either fundamentals coning out due to crop damage and lower yields, and also some technical short closing since last rally. Keeping in mind the August report, there could be some positioning before here too from fund managers, adding to volatility. That said, if crops are seen as doing well, with ample inventories, and no substantial buying even though China tariff waiver, prices could continue the current short term bearish trend and breeze through $4 down to $3.80. RSI already showing oversold on shorterm though with possible technicals support current prices and allow for some upside. Overall still see risk to upside despite last week's drop.
Corn - Leaning Towards Nice Long TradeI feel corn is an easy trade at moment. If we look at 4.29 as a kind of average way point at the moment.
If it shoots above that with more news of more crop issues in US, look for an overbought RSI to short or jump on the long train if feel confident. There are uncertainties of the amount of acreage planted, and extended heat causing further crop damage, but there is a good harvest in South American (from my understanding)
But if cooling this week ahead, and crop acreage isn't as bad as people thinking, could be a price breakdown below $4.
Basically, prices below that way point of 4.29 I wouldn't short, and above that I wouldn't long. I want to see some fundamental reason for long or short. Though if wanted to place a position at start of week, I would open a long with low risk equity position.
I feel that risk is to upside at moment, with some bullish news easily pushing to $5. Though over this, demand side reduction could occur, so if it gets there, a short position should be considered.
Unless some overly bearish news, I don't see any huge price drops, and see support around that current $4 - $4.29 level, I see this as an easy long trade (unless fundamental breakdown)
"Short Setup on Corn (ZC1!)" by ThinkingAntsOk4 Hour Chart Explanation:
- Price bounced on the Resistance Zone (check it on the Weekly or Daily Vision).
- Price broke the Ascending Trendline.
- Price is, currently, on a Bearish Corrective Structure (ABC Elliot Count).
- If it breaks it at 4,215, the Short Move will be started.
- Our targets for that down move are the two Middle Support Zone and, finally, the Weekly Support Zone.
Check our Weekly and Daily Analysis. They can be really helpful for you!
Weekly Analysis:
Daily Analysis:
Corn: Monthly ViewThis just showing the monthly timeframe to support the weekly short idea already published. We are at an important junction
"Top and Bottom Analysis on Commodities: Corn" by ThinkingAntsOk4 Hour Chart Explanation:
- Price bounced on the Macro Resistance Zone and broke the Ascending Trendline.
- It is currently retesting the Resistance Zone (Pullback).
- If price starts its down path, we have two potential targets points: the Middle Support Zone at 3,782 and the Major Support Zone at 3,424.
Also, our Weekly and Daily Analysis are short views on the Corn.
Weekly Analysis:
Daily Analysis:
$CORN/USD might face serious uptrend. This is not technical analysis but its more likely related with the CoT report which shows potential short on commercials and long on speculators. The reason I believe we will have uptrend:
1. CoT commercials are short as they used to be back in August 2010.
2. There are significant floods in US which devastated the crops.
3. It already broke the descending triangle.
What could go wrong:
1. We had same position on CoT traders in May 2018 which led to drop in the price.
2. US could import corn.
However, I am still bullish on this one and the potential trade will be:
Entry point 4.62, TP: 5.30 - Hedge or SL:3.95-3.85
CoT data in the comments:
Corn Short OpportunityBias: Downwards
- Monthly pinbar
- Look for price to test the 200 day moving average (red)
(1) Selling corn into supportLooking at this market to trade into the $4 area over the next 1-2 weeks.
Corn short biasCorn just reacted to previous monthly supply and created short setup. We always need to enter when market gives us the way with small retracements. Trade always zone to zone.
Happy Trading.
Corn/USD Bearish Divergence- Corn have an exponential growth recent month. but i expect a consolidation after it hit the 2.618 fib line(golden ratio fib) area just like in 29 may 2019.
- Bearish Divergence sighted but it could be negated if the indicators could rise in a same level as a previous level high.
- expect a golden ratio fib, EMA and SMA as a potential support and resistance line.
peace.
Nice set up to go long CORN (ZC1!)CORN(CORNUSD) has definitely broken out the 5 years falling wedge and momentum is still very strong with ADX indicator rising above 30. All the nearist resistances are so soft and can be penetrate within a next move. We can go long CORN now aiming the target at 5.000 then 6.000, stop loss at 4.000
Bearish Structure on CORN 8 June 2019Market has failed to close above 29 MAY candle and is trading within this candle range for this past week. Bullish momentum is losing its steam as can be seen from the market structure and also the high volume candle. Waiting for confirmation to close below 29 May candle for trade entry. Watch 3.935 support very closely. I am expecting 3.935 to hold.
CORNusd CFd ; Long Term Perspective on the up Trend :Third EyeCORNusd CFd ; Long Term Perspective on the up Trend :Third Eye
Corn/USD Bounce UpLooks bullish.. looking forward a retracement into +- 4 $ or emas line after it's challenging the resistance at $ 4.28
Indicator looks bullish, volume is rising rapidly.
DMI : +DMI is rising and -DMI is dropping hard creating a huge range between them, bullish also DMX is rising too.. bullish momentum is increasing
Macd : buy histogram is higher than the previous high.. bullish sign so far.
Volume MA is rising
Corn LONG position at trend lineThe corn approaching to the increasing trend line, so check to jump into the LONG.
