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Livecattle

Live Cattle Elliott Wave Idea Live Cattle futures appear to be coming to and end of a multi year correction phase. If WXY completed at $94.6 then the motive phase may already have begun, however, if the $130 highs seen during 2017/18 were just X2 of WXYXZ then price may fall further; in WXYXZ Z must be equal or longer than X2 which suggests a double bottom at $94.6. Some details on the waves: Wave 1; appears to be a leading diagonal > An ending diagonal for wave 5 of 5 (of 1) > The big WXYXZ; made up of multiple 3 wave (ABC) structures >
CME:LE1!
by Joseph_King
LIVE CATTLE futures . Long on retracementLive Cattle -0.04% prices tend to follow clear trends , as can be seen by the descending channel from 2015 to 2017 (almost 2 years) Options expiration is February 28. I will look for support on the current parallel or retracement to the lower parallel for a long entry. Stop below previous low and take profit at 25 centile. Depending on price action I may keep the trade open and move stop up to 25 centile. Possible trades are outlined. I would become bearish if price falls below the lower parallel
CME:LE1!Long
by a1Keith
Live CattleApril Live Cattle continues inside the bullish flag and has hit the upward trend line. CCI has been breached. No clear sign of a continued uptrend, or a downtrend off of the completed Cypher pattern. Support is at 114.825 point X of the Cypher pattern. Small body candle Friday may be indicating reversal as it has in the past, however, historically, Cattle moves lower in February to May. This flag may go sideways. In the long run, look for double top reversal, or continued downtrend.
CME:LEJ2017Short
by hopscotch