TKUK1! trade ideas
Trade Idea for Corn (July)A Conservative entry around the 50% retracement of today's price action would be ideal. A risky trade would be an entry at or near the close. I say its risky because of the sheer aggressiveness of the bar's price action. These tend to lead to a pop in price in the opposite direction for those taking profits sometimes in the vicinity of 100%.
Anyway - I will not be in this trade unless I can close my other positions and get in the action tomorrow at the conservative level.
Good Luck and remember, always another trade...don't ever force a trade
Corn Jne CBoT Long PlayPrice did make the pull back down to its supportive level after all and bounced from same support during Thursday's session after which a follow-through materialized during Friday's session. Nothing much changes in our bias on the development of this price and we keep our outlook unchanged to the upside.
However, we are not yet completely out of the woods and on track with this chart. During the coming week we want to see the 385 level broken and a decisive settlement of the price above same 385. After that we can go looking for a exact path towards our first target at around the 415 level and to our second target at around 450.
Bottom-line we are looking for a 15% or more swing up of price from its current levels.
Short Idea for Corn Like an entry near the 50% retracement on todays bar. This could be entering a range and could make for some nice trades in both directions
Corn long playCorn:
Price made a 13% swing up during April and corrected down rather impulsively during the 2 sessions of Apr 21 & 22 in order to correct its overbought status. On very short term the key level is 382.50 which is the low of last Thursday Apr 28. If this level breaks during the first half of the week we anticipate a bit further decline of price that could go as far as the 370/365 mark which would be an excellent target level to anticipate a long play.
From there we expect price to reverse in order to rally further up throughout the summer to 450 levels or higher than that. We feel more comfortable with our 450 target for the mid-term than with the possible swing down next week to 370.
Looked like a panic? I think it was/is a retest buy opportunitySharp moves, soaring volatility: look at ATR! --> first conclusion: as always when volatility increases that much, you must reduce unit size (regardess how small or big account you trade)!!!
After the spike we saw two days massive selloff down to 371+. Please note that now we already trade July Corn contract.
- 377 - 372 zone was clearly a bullish support to buy.
- Market is so volatile, price is moveing so quickly, that even with haDelta it is a bit hard to catch changes in time. The Heikin-Ashi candle still looks bearish, but as you see haDelta quickly hit an extreme low during friday trading session. That's why I thought the support zone was OK to buy a small long. Anyway I waited until today US open to enter.
- EWO is not changing that quickly. It is simply still bullish.
As you see the weekly key reversal is still around 395-400. In case we close above, we can expect another +10 % move to ard 440.
Corn I belibe that The major bottom of Corn may be placed in
But will it be profitable? I don't think so in terms of time,
any way Would look for 50~61.8% to buy
Short corn The March 31 report could be ugly with lots of corn to be planted. No good news for corn unless we see a weather scare.
Corn: Not A Trade Idea Just A ReactionI was looking for some upside action in corn as it appeared all the grain complex have turned the corner. Then this! This business is no an easy one by any means
While positionning is record short, price action is...... rather bullish.
Weekly:
- Ichimoku is more neutral. Price stil below Kijun and Kumo (bearish), but all averages has been flat line for long time now.
- Triangle
- Heikin-Ashi is bullish biased now, but haDelta is still sround zero line. Needs more momentum.
- EWO ticking back to zero -> neutral
- Strategic key reversal level is: 395
Daily:
- Bullish Kumo breakout gets validation as Tenkan and Chikou moving above Kumo too!
- Heikin-Ashi bullish continuation: candle and haDelta gives a buy signal after 2 days of consolidation-
- EWO is bullish
- ATR is still extremely low! If record short positions get squeezed, price action can turn really agressive, with volatility to jump.
Hold/increase longs. Stop below 360. Trail stops with PSAR and/or Kijun Sen. Initial target 390-395.
Watch CORN...Grains market is interesting right now. DBA, agriculture etf, broke out of daily cloud and I am looking at corn here.
Weekly:
-Bearish Ichimoku
-But you can make a case of double bottom with rsi and ha osc divergence
-Prices trying to get over TS, for move to KS first as it is first hurdle.
Daily:
-Weak TS and KS cross and prices currently at cloud and 100 wma
-HA osc is above 0
-Break of cloud should bring acceleration for move up.
Sugar already broke out. So corn and wheat are getting interesting now.. My bias is bullish here.
May CornMomentum building for a rally. Looking for profits near 100 Day MA. Remember to lock in profits when price gets far enough into the green
Short OpportunityFutures trading is not for everyone. Please be advised that future contracts involve substantial risks.
