Live Cattle Fundamental and Technical UpdateMonday’s Slaughter is estimated at 125,000. Unchanged from last week, but 8,000 more than the same week last year.
Monday’s Cutout Values
Choice: 270.54, Down .78 from the previous day.
Select: 247.45, Down 1.44 from the previous day.
Choice/Select Spread: 23.09
5 Area Average Cattle Price
Live Steer: 140.14
Live Heifer: 138.35
Dressed Steer: 226.03
Dressed Heifer: 225.95
Live Cattle
Technicals (August): August live cattle got taken to the woodshed yesterday, along with nearly every other market out there as a risk-off sentiment fed on itself ahead of this week’s Federal Reserve meeting where the chances of a .75 rate hike went from 25% to 94% over the span of one trading session. As painful as yesterday may have been, it prices in the bearishness that comes with a more rapid rate increase and leaves room for outside markets to rally if the Fed only comes in with a .50 hike. If the Fed hiked rates a full point, that would obviously be another story. Needless to say, outside market money flow and sentiment will be a key catalyst through tomorrow’s Fed meeting.
Resistance: 136.025-136.625***, 137.90-137.95**, 138.75**, 140.275**
Pivot: 135.10-135.475
Support: 134.40-135.10***, 132.45-132.775**, 129.975-130.725****
Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
Futures-trading
let's take a look at #ftm herethere is a long-term trend line that it's been broken already, I just marked the possible targets for the #short #position on the chart but be careful there's no confirmation yet,we still have to wait for it to see what will happen.
✅CORN TIME TO SELL|SHORT🔥
✅CORN has hit a key structure level
Which implies a high likelihood of a move down
As some market participants will be taking profit from their long positions
While others will find this price level to be good for selling
So as usual we will have a chance to ride the wave of a bearish correction
SHORT🔥
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CORN FUTURES Swing Short! Sell!
Hello,Traders!
CORN has reached a massive horizontal resistance
Which happens to be an all time high for the commodity
And so we are already seeing a bearish reaction
Which I think will continue and the price
Will retest the local support below
Sell!
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Natural Gas (NATGASUSD): Time to Grow AGAIN?! 💨
This morning with my students we discussed a great buying opportunity on Natural Gas.
The market dropped to key daily structure support.
On that, the price formed a tiny double bottom formation on 1H time frame.
Taking into consideration that the market is trading in a sharp bullish trend,
it can be a very nice confirmation to buy the market.
Goals:
6.825
7.0
❤️If you have any questions, please, ask me in the comment section.
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GER40 (DAX40) Weekly Gann Analysis. Will it BREAKOUT? CAPITALCOM:DE40 Falling Wedge Pattern (Weekly)
The index is testing resistance of the falling wedge once again for 5 weeks in a row.
Weekly candle close above 400 will indicate a breakout from the downward trend with a target of 16,200 if the breakout sustains.
Good Luck!
E-Mini Dow Jones Futures GANN Levels for todayCBOT_MINI:YM1! trading in a tight range 34,440 and 34,580 since open. Resistances are 34580 and 34620 above which we expect CBOT_MINI:YM1! to move towards the 34740 levels.
In the event, our support of 34440 breaks, we could test the 34350 support level.
Watch the video for full details on the trading levels and range for today. Good Luck!
Have a great weekend & Happy Good Friday!
GOLD (XAUUSD): Ultimate Technical Outlook For Next Week 🥇
Hey traders,
As I previously predicted, Gold nicely bounced from a key daily support.
Even though the market was sharply bullish, I want to remind you that technically speaking the market is still consolidating.
The market is still stuck within a horizontal trading range.
1750 - 1760 is its support.
1811 - 1818 is its resistance.
To catch a bullish continuation, wait for a bullish breakout of the underlined blue resistance.
After the breakout the price will most likely keep growing to 1848 level.
If you are bearish, consider a bearish breakout of a support of the range.
In case of a daily candle close below that, bearish continuation will be expected.
What do you expect?
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NATURAL GAS Will Keep Growing! Buy!
Hello,Traders!
NATGAS is trading in a rising opening wedge
And the price has just retested a support cluster
And bounced off it showing good bullish reaction
I think that we will see the pair trading up in the wedge
With the target being the previous high
Buy!
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NATURAL GAS Will Go UP! Buy!
Hello,Traders!
NATURAL GAS is trading in an uptrend
But now the price is retesting a horizontal support
From where I am expecting a pullback
And a bullish reaction that would move the price up
Buy!
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✅LUMBER SWING TRADE OPPORTUNITY|LONG🚀
🏛LUMBER making a massive correction
From the spectacular bubble like covid rally
And the price will soon be retesting an important weekly support
From where I am expecting a pullback upwards
With the chance of retesting the level above
SUGGESTED TRADE:
☑️Buy CALL options 600$ strike
☑️Expiration end of the year:
☑️Either November 2021 or January 2022
☑️I would go for January
☑️You can see the options chain for lumber futures at the CME website
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📚 Leveraged & Margin Trading Guide + Examples ⚖️
Leveraged trading allows even small retail traders to make money trading different financial markets.
With a borrowed capital from your broker, you can empower your trading positions.
The broker gives you a multiplier x10, x50, x100 (or other) referring to the number of times your trading positions are enhanced.
Brokers offer leverage at a cost based on the amount of borrowed funds you’re using and they charge you per each day that you maintain a leveraged position open.
For example, let's take EURUSD pair.
Let's buy Euro against the Dollar with the hope that the exchange rate will rise.
Buying that on spot with 1.195 ask price and selling that on 1.23 price we can make a profit by selling the same amount of EURUSD back to the broker.
With x50 leverage, our return will be 50 times scaled.
With the leverage, we can benefit even on small price fluctuations not having a huge margin.
❗️Remember that leverage will also multiply the potential downside risk in case if the trade does not play out.
In case of a bearish continuation on EURUSD, the leveraged loss will be paid from our margin to the broker.
For that reason, it is so important to set a stop loss and calculate the risks before the trading position is opened.
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👶 Trading For Beginners | ORDER TYPES 👦👧
There are multiple ways of opening a trade in a trading terminal.
Here is the list of universal order types that you MUST know:
1. Market Order
A market order is a trade order to buy or sell a desired financial instrument on a current market price.
In such an order type, the price is determined by the market.
Constant price fluctuations and spreads make market order quite risky way of opening a trading position.
2. Limit Order
A limit order is a trade order to buy or sell a desired financial instrument at a specific price level. It allows the trader to enter the market on a strict price level ignoring the price fluctuations and spreads.
A limit order can be referred to as a buy limit order or a sell limit order.
3. Buy/Sell Stop Order
Buy stop order is used to buy at a price above the market price, and it is triggered when the market price touches or goes through the Buy Stop leve.
Sell stop order is used to sell when a specified price is reached.
The selection of order types is based on a trader's trading style.
Let me know in a comment section which order types do you apply in your trading!
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👶 Trading For Beginners | ORDER TYPES 👦👧
There are multiple ways of opening a trade in a trading terminal.
Here is the list of universal order types that you MUST know:
1. Market Order
A market order is a trade order to buy or sell a desired financial instrument on a current market price.
In such an order type, the price is determined by the market.
Constant price fluctuations and spreads make market order quite risky way of opening a trading position.
2. Limit Order
A limit order is a trade order to buy or sell a desired financial instrument at a specific price level. It allows the trader to enter the market on a strict price level ignoring the price fluctuations and spreads.
A limit order can be referred to as a buy limit order or a sell limit order.
3. Buy/Sell Stop Order
Buy stop order is used to buy at a price above the market price, and it is triggered when the market price touches or goes through the Buy Stop leve.
Sell stop order is used to sell when a specified price is reached.
The selection of order types is based on a trader's trading style.
Let me know in a comment section which order types do you apply in your trading!
Please, like this post and subscribe to our tradingview page!