Looking for distribution and scam wicksI think this could be a long trap followed by a bear trap. I'm not saying it will happen and it doesn't have to happen, but if it does, I will watching to long the next capitulation or scam wick.
CORN
Corn Futures Expected to Move Lower Towards 563'4Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in Corn Futures ( ZC1!).
Trend Analysis
The main view of this trade idea is on the 2-Hour chart. ZC1! Hit some resistance around the 572’2 price level and is expected to move lower in the short term. This resistance is a lower high on the commodity and is expected to make another leg lower.
Technical Indicators
ZC1! is currently above its short (25-SMA), medium (75-SMA) and fractal moving averages. This price increase appears to be a counter trend move of an overall decline in the commodity. The RSI was overbought and is now trending lower towards the 50 level. Moreover, the KST is also displaying negative divergence as the indicator had a negative crossover.
Recommendation
The recommendation will be to go short at market. At the time of publishing ZC1! is trading around 563’4. The short- term target price is observed around the 548’6 price level, towards the medium term SMA. A stop loss is set at 572’2. This produces a risk reward ratio of 1.56.
December CornPossibly put the highs in for Dec Corn here...as shown in chart, we faded the gains from the bullish July USDA crop report (which showed lower acreage) on better weather forecasts after wknd of the 4th...weather maps less threatening in corn belt as of late and is bearish feature for the next few weeks should forecasts confirm. Condition ratings expected to increase. Spreads are firm though and there is some support from Bean oil as the Canola mkt is experiencing production issues due to ongoing drought. This feature could have potential to pull CZ higher but I believe the upside here is limited. I expect CZ to trade down to ~520 range and b/c range bound from there.
The Brutal Multi-Month Long Bull Flag | CORN EDITIONAll Hail The Satan Corn! The Lord of Technical Misery!
Presenting the brutal Bitcoin bull flag of 2021 with brutally suicidal fakeouts and shakeouts.
Corn Nears Critical Test - Will Bears Gain More GroundCorn prices are up against the wall after a sharp multi-month drop. The rising 200-day Simple Moving Average (SMA), along with an area of support from January to March trading, may offer bulls a chance to regroup. The MACD and RSI oscillators indicate downward momentum may win out, however. A break lower likely opens the door for further losses.
corn experiencing wild movement. back at support.Corn made a scary move upward, and had an equal downward reaction.
Those moves were so volatile I don't know if it means they cancel each other out, or what the deal is, but corn is basically back where it started, which is above a trendline break and low in the range, which is an area for long considerations.
Possible bullflag on Corn cash. Se my related idea. We are in for a lot of volatility in the grain market.
Corn in an interesting positionUSDA 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.
corn maybe.Corn is potentially setting up for a good move higher, but the staggered double top might dictate price lower still.
🌽𝘾𝙤𝙧𝙣 𝙛𝙪𝙩𝙪𝙧𝙚 - we buy canned food for the New Year🚜ZC1! : 🕐 2W
Most likely, wave (V) of the "Supercycle" degree unfolding the ending diagonal I-II-III-IV-V , in which the growth is in wave III .
ZC1! : 🕐 1W
The growth marked with ((A)) is most likely over, although one more local maximum is not excluded. Further, a rollback is expected within the wave ((B)) of III , which has the right to take the form of any corrective pattern.
CORNUSD :🕐 1D
When the correction forms appear, at the completion of the corrective wave ((B)) of III , I plan to take a closer look at a long position on one of the available trading instruments, as well as at companies in the agricultural sector.
The wave marking in the double circle parenthesis corresponds to the green marking in the circle on the chart.
Corn Opening Bell Winner once againOnce again, I love volatility. The 9:30 opening bell is so many times an incredible thing. Look at the huge sideways action all night long and into this morning. I put a buy order in at 645 in case price action goes crazy at the opening bell and it did - straight up through my 30 HMA to my Take Profit of 40 points. Beautiful Monday!!
Corn Prices May be About to CrashCorn futures (ZC1!) just came off the highest monthly RSI print since 2008 around an 82 handle. We're likely going to see a vicious correction in the near term. Seems like everything is on the verge of a major correction at this point. I wish the Fed luck...
Jun 16, 2021 Corn WinnerGrabbed a quick 16 points this morning. I missed early morning as I was still sleeping but if I was awake at 6am I could have been in the trade at 665 instead of 670. As usual, I took my quick 16 points for a great morning win before the Fed 2pm Gong Show.
Jun 13, 2021 Corn Selling FastAgain, at the opening bell at 8pm, price action was undecided for the first 5 minutes - then BAM - straight down, hit my sell order at 670 and a quick TP at 664, all in less than 15 minutes - Brilliant! Have a great night :-)
Quick 24 points on CornOnce again at the opening bell, price action plummeted and my sell order at 688 was executed. Within 20 minutes my Take Profit of 24 points was hit and I made off with some quick morning profit - great start to a Friday. Happy Friday to all and have a safe weekend.
Jun 10, 2021 Quick 5 point profitGreat start to the day as the opening bell price action worked again in my favor to snag me a quick 5 points in less than 30 minutes. Put my Buy order in at 702 and waited for 9:30 - Price action went straight up and took my profit at 5 points.
Jun 9, 2021 Corn quick 5 pointsSnagged a quick 5 points at the opening of the DJIA. Corn passed up through the 30 HMA quite aggressively so it didn't take long at all to grab the 5 points and run. Nice start for the day.
BITCOIN - LONGLONG here, take profits around 51k.
Buy the wave 2 (double bottom) and hodl them btc bags all the way to $100k+
Corn Selloff May Worsen if 50-day SMA BreaksCorn fell to its 50-day SMA today. The key moving average offered support throughout March trading. A breach under the key technical level may lead to a deeper selloff, perhaps to the 100-day SMA. MACD also appears on track to cross below its center line.
BUNGE - best short opportunity in 2022BG long term plan - short in Sept-Oct 2021 at 95 area. Expect to see -80% downside from peak to low. Looks like commodities won't be feeling well in 2022.
Grains will shock youWith all the drama of last year and many areas locked down, one of the big sufferers was agriculture. Much of last years yields went to waste and panic buying occured. Which I'd guess also went to waste for the most part.
As you can see on my chart I'm expecting a sizeable pullback in price before the event, which is completely normal.
let it collect the orders down there and get in where you feel comfortable.
From there hold way into 2022. I wouldn't like to call the top on this, but it'll be impressive.
Checkout soybean and corn also. Why do you think they drove up so hard in price?
Happy trading and don't long just yet. (July?).
