ZC1! trade ideas
#ZC_F $ZC_F #Corn – BEAR SPREADThis bear spread is quite cheap. I see a potential to grow to price 6,0. There is a strong S/R zone. Entry 4,0 / SL 3,0 ($50/contract) / PT 6,0 ($100/contract)
Time GuesstimateWe are watching a bearish movement based on the drive of the time target. Next could be a probable uptrend.
Time GuesstimateAfter a downtrend, we are watching a probable bullish movement based on the drive of the basic time target.
March Corn Bearish Gartley SetupMarch Corn has launched off of the lows at the end of a H&S fall and looks like it might be setting up for a bearish Gartley. Corn crossed over the 20 day MA and pivot and stayed above this at the end of the day and eyeing R1 at 386'7. Possible continued move to R2 at 392'2 depleting RSI. The R2 would be a triple top and might signify further upside. Significant resistance comes in at 398'1 though.
Corn: Moving sideways on 1W. Short.Corn has been practically neutral on 1W (RSI = 54.490, ADX = 23.173), trading sideways since mid July. With the price currently testing the inner 374'2 Resistance, we consider it to be high enough for a short towards the 0.618 1D Fibonacci = 356'6.
Corn forecast ZC1!Looks like a possible long setup for the short term, but beware of nearby resistance. Wait for confirmation.
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CORN FUTURES, 1D, CBOTTrading Signal
Short Position (EP) : 374.5
Stop Loss (SL) : 380
Take Profit (TP) : 362.25, 346
Description
ZC formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (374.5) and place stop after 0.618 level (380). Once the position was hit, place take profit before an agreement (362.25) and 346
Money Management
Money in portfolio : $150000
Risk Management (1%) : $1500
Position Sizing
$0.25 = +-$12.5 (Standard)
Commission fee = -$2.82/contract (Standard)
EP to SL = $5.5 = -$275/contract (STD)
Contract size to open = 5 standard contracts
EP to TP#1 = $12.25 = +$612.5 (STD)
EP to TP#2 = $28.5 = +$1425 (STD)
Expected Result
Commission Fee = -$9.02
Loss = -$440
Gain#1 = +$588
Gain#2 = +$912
Total Gain = +$1500
Risk/Reward Ratio = 3.34
ZC1 uptrend resisting Fib levelCorn futures ZC1 have touched the 50% Fibonacci level on three occasions and failed each time. Looking for a reversal to the uptrend
Corn Future DEC18 (1d)Trading Signal
Long Position (EP) : 358.25
Stop Loss (SL) : 355.25
Take Profit (TP) : 367.25, 371.25
Description
ZC formed Double Repo Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (358.25) and place stop after 0.618 level (355.25). Once the position was hit, place take profit before an agreement (367.25) and 371.25
Money Management
Money in portfolio : $133,000
Risk Management (1%) : $1,330
Position Sizing
$0.25 = +-$12.50 (Standard)
Commission fee = -$1.67/contract (Standard)
EP to SL = $3 = -$150/contract (STD)
Contract size to open = 9 standard contracts
EP to TP#1 = $9 = +$450 (STD)
EP to TP#2 = $13 = +$650 (STD)
Expected Result
Commission Fee = -$30.06
Loss = -$1,350
Gain#1 = +$2,250
Gain#2 = +$2,600
Total Gain = +$4,850
Risk/Reward Ratio = 3.51
Corn Future DEC 2018 (1d)Trading Signal
Long Position (EP) : 368
Stop Loss (SL) : 364.5
Take Profit (TP) : 384.5
Description
ES formed Double Repo Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (368) and place stop after 0.618 level (364.5). Once the position was hit, place take profit before an agreement (384.5)
Money Management
Money in portfolio : $133,000
Risk Management (1%) : $1,330
Position Sizing
$1 = +-$50 (Standard)
Commission fee = -$2.82/contract (Standard)
EP to SL = $3.5 = -$175/contract (STD)
Contract size to open = 7 standard contracts
EP to TP = $16.5 = +$825 (STD)
Expected Result
Commission Fee = -$39.48
Loss = -$1,225
Gain#1 = +$5,775
Risk/Reward Ratio = 4.57
Previous Target hit. 1D Channel Down continuation. Short.The TP = 372.20 has been hit and the 1D Channel Down (RSI = 37.956, Highs/Lows = -0.2679, B/BP = -1.4820) continues to deploy on a standard manner. Next TP = 337.20 which is the November 13, 2017 bottom and a very likely candidate for a rebound. If it breaks then 320.40 is next.
CORN 2 day swingsOn Monday 366 would turn up your 2 day swing chart and will also break the daily swing highs
Bullish SharkBullish shark with bullish divergence. Waiting to see how price reacts to the reversal zone (purple box).
Larry Williams "Smash" TradeThis pattern is described on page 101 of Larry Williams book, "Long-Term Secrets to Short-Term Trading."
#ZC_F $ZC_F #corn - Bear spreadCorn has done what I expected and my bear spread ZCN19-ZCZ18 reached my PT. $190/contract profit.
Break out point on 1DAfter breaking the 1D Channel Up (Highs/Lows = -12.9821, MACD = -1.170), Corn just bounced off the first important support at 380. We will either see a strong rebound here (long with tight SL, TP = 392.40) or if 379 breaks, it will look for the 372.20 support (TP = 374).
