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CCM1! trade ideas

March 22 CornMarch 22 Corn - Daily: The uptrend in March Corn has found upside pivots against the 162% retracements of each previous leg down (Shown with the grey boxes). Using the recent 6.42 swing high and 6.10 swing low, we can identify the 6.62 Target as the latest Primary target filled. 6.74 is the next target higher. We will redraw retracements should we make another leg lower On a larger scale the 162% retracement from the May21’ High to the Sep21’ Low places the 162% target at 7.23. 1 step at a time Support is each pivot low. 6.10, 5.84, and 5.57.
CBOT:ZCH2022
by mtb1980
Corn Market **Please do not take this as a projection or extreme bullish stance. This Market is sensitive to major up and down moves that will eventually leave many surprised by the high and the low it will leave behind. The quarterly chart shows extreme highs being made in the past 50 years. The current Corn market shares some similarities with the 06’-08 and the 71’-73’ Markets. Supply, Demand, and Inflationary driven Markets. Add emotionally driven as well…. • 71’-73’ Had the Russian Grain robbery and the US$ taken off the gold standard. I don’t know about production back then but the World demand and inflationary fears were very strong • 06’-08’ Had new demand in US ethanol paired with a strong growing China economy hungry for US grains. The 07/08 housing crisis brought fears of inflation. I am unsure on production in those years. • 20’-22’ Domestic and world demand is strong. There have been areas of production misses the past couple of years across major exporting nations, and Inflationary fears are elevated. Part of last year’s corn rally ending was due to rationing of corn for feed demand as Corn approached $7.00, Wheat still had a 5 in front of it. This year Wheat has been trading above $8. Major corn rallies of the past were preceded by strong Wheat rallies. With similar ingredients to previous Major Bull rallies, I feel that potential upside on this market is extreme and unmeasurable. Because we never know for sure, I had Identified the 5.75+ area as a place to target old crop sales, with the 7.35 area the potential upside/resistance. But beyond that I feel that the 9.50 area should be considered for potential extreme upside. Both of the previously identified markets rallied more than 200% of their 24 month low before cooling off. I do think it is fair to use rate of change as potential upside when dealing with inflationary type markets. Corn has never been to 9.50 before, but (twice in 50 years) it has seen a rate of change of 200%. For New Crop Corn: I don’t know if there is anything we can do with this other than look more at courage calls, or to be more engaged with puts (with a roll up program). This is a monthly continuous chart that will be driven by old crop contracts. There could be a strong old crop/new crop inverse if this thing was to get excited the first 6 months of this year, but new crop contracts should perform well. It is dangerous to put out charts showing such extreme levels, but I think it is prudent to shock test Margin callscenarios against such extreme levels. **Down side support is 4.75-5.15, extreme Risk is 3.80 to 3.00.
CBOT:ZC1!
by mtb1980
1
Five-wave rally on Corn gives confidence - Elliott waveA five-wave recovery on corn (March 2022) from 585'2 level suggests more upside on a larger scale, however after a three-wave correction a-b-c as bigger wave 2. Sub-wave v of 1 can be completed at the 619 high, in that case we will see a drop below the lower parallel channel line, which will be an indication that wave 1 is finished, and a three-wave corection as 2 underway. Support for an a-b-c correction of 2 is at 604, where former lesser degree wave iv sits.
CBOT:ZCH2022
by Gravity33
$ZC Corn Futures Medium To Long Term Analysis #cornfutures Traders, This is the analysis of Corn Futures ZC. 1. Price made structure break which means more down side is expected 2. But the price can go back up perform a. Sell Order Collection b. Stop Loss Collection c. Retest few levels 3. We currently have a wedge pattern which getting squeezed. A break below will push it to the lower FCP zone. 4. A break above can go to upper FCP zone which is very powerful and can have better sell orders. From there a short based on a confirmation will make more sense. This short then can be held for a longer period of time (if conditions are favorable) as the market structure has been broken (BOS) mentioned in the point 1. Trade what you see and ignore any hypes. Stay objective. Rules: 1. Never trade too much 2. Never trade without a confirmation 3. Never rely on signals, do your own analysis and research too ✅ If you found this idea useful, hit the like button, subscribe and share it in other trading forums. ✅ Follow me for future ideas, trade set ups and the updates of this analysis ✅ Don't hesitate to share your ideas, comments, opinions and questions. Take care and trade well -Vik ____________________________________________________ 📌 DISCLAIMER The content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of education only. Not a financial advice or signal. Please make your own independent investment decisions. ____________________________________________________
CBOT:ZC1!Long
by vikinsa
CORN - LONGBeen long a long time all commodities. The trend here has been tested and held. Q4 Commodities higher, inflation increasing, growth accelerating. Stay long commodities and buy these nice pullbacks for now. At some point, this will change but that signal is not yet. This is also forming nice wave pattern setup to go along with the data. Personally, I think yields will be way better than expected and this will weigh on price, but for now I will stay with the data.
CBOT:ZC1!Long
by bitofamacroman
December 22' CornDecember 22 Corn - Weekly: From 2014-2020 Corn traded within a more definable market structure, 3.00-4.50(ish). During this time I would run previous years High to Low retracements on new crop contracts and place initial targets at retracements under 100% and hope to fill targets up to 127%. We are currently in the beginning stages of developing a new market structure where upside potential and downside risk is unmeasurable. So far we filled the 5.63 (141%) target, and close to the Primary target at 5.78. The 5.50 area is tough Support/Resistance as the most volume has occurred at this price. Support is 5.14. Risk is 4.80-4.62
CBOT:ZCZ2022
by mtb1980
March 22 CornMarch 22 Corn - Daily: March Corn broke above the downtrend line and filled a Major Primary target at 6.15 with its 6.17 high. Last week’s 5.93 close matches the pivot high we are currently using for retracement targets, and it is resting against a current uptrend line that began in mid October. Also, the Heaviest amount of volume by price is between 5.75 and 5.85. This should act as solid support if the current uptrend line is broken. A move above 6.17 will look for targets up to the next major target at 6.51. Support/risk below at 5.57.
CBOT:ZCH2022
by mtb1980
Big Picture look at Corn Market structureCurrent Market Structure: **Sensitive, with extreme bandwidth** (IMO) The current Domestic and World; Supply & Demand numbers,paired with recent inflationary threats support a price base range from 4.75 to 5.15. There are to many variables that could change the fundamental picture and that is what this chart and the extreme bandidth is trying to tell us. 2014-2020 that was a 3.75 base. If the Market went to far above or below 3.75, eventually it came back to it. Resistance above the 5.75 area at 6.50 - 7.35. **5.75+ is an area that some pricing and protection should be encouraged Major Support is the 5.15 to 4.75 area. **Many 22’ break evens are coming in at this range. Eventually price will return to this area. Risk is 4.00-3.80 range with further extreme risk at 3.00. We traded a 6 year range from 3.00 to 4.50, someday there could still be a pull back to that area **This is a continuous front month chart, new crop (currently Dec 22’) targets should be considered when front month futures hit target areas…
CBOT:ZC1!
by mtb1980