MAI.ROS1! trade ideas
Corn Futures - /ZC - Monthly chart going for All-Time High?Corn Futures - /ZC - pushing through the Points on the monthly chart. Will we see new highs for corn? Get you popcorn now and watch the show. Big things are happening in the world.
Corn ( ZC1!) , H4 Potential bullish continuationType : Bullish continuation
Resistance : 793'6
Pivot: 719'4
Support : 659'0
Preferred Case: On the H4 chart, price is near our pivot of 719'4 in line with horizontal overlap support and 50% Fibonacci retracement . Price can potentially rise to our 1st resistance level at 760'0 in line with the 161.8% Fibonacci extension . Our bullish bias is supported by how price is moving above the ichimoku cloud .
Alternative scenario: Alternatively, price may head to our 1st support at 659'0 in line with the horizontal swing low support.
Fundamentals: No major news event.
Corn ( ZC1!) , H4 Potential bullish continuationType : Bullish continuation
Resistance : 793'6
Pivot: 719'4
Support : 659'0
Preferred Case: On the H4 chart, price is near our pivot of 719'4 in line with horizontal overlap support and 50% Fibonacci retracement . Price can potentially rise to our 1st resistance level at 760'0 in line with the 161.8% Fibonacci extension . Our bullish bias is supported by how price is moving above the ichimoku cloud .
Alternative scenario: Alternatively, price may head to our 1st support at 659'0 in line with the horizontal swing low support.
Fundamentals: No major news event.
Corn ( ZC1!) , H4 Potential bullish continuationOn the H4 chart, price is near our pivot of 719'0 in line with horizontal overlap support and 38.2% Fibonacci retracement . Price can potentially rise to our 1st resistance level at 760'0 in line with the 127.2% Fibonacci projection and 161.8% Fibonacci extension . Alternatively, price may head to our 1st support at 689'4 in line with he 61.8% Fibonacci retracement level. Our bullish bias is supported by how price is moving above the ichimoku cloud .
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🌾CORN - BitCorn is Back🌽🌮🍿Last year we bought because of inflation.
This year things are even more serious, there is a war between Russia and Ukraine.
Column: Concerns rise over Black Sea spring crops amid Russia-Ukraine war: www.reuters.com
Looks like Fajitas and Tacos🌮, Kellogs frosties 🐯 and other cereal , corn on the cob 🌽, even go ''pop'' in the cinema🍿 might become expensier. On a more serious note, poverty will hit some and food will become a luxury for some.
Sad but true. Scary...
May logic prevail,
the FXPROFESSOR 🌾
Corn ( ZC1!) , H4 Potential bullish continuationOn the H4 chart, price is near our pivot of 719'0 in line with horizontal overlap support and 38.2% Fibonacci retracement. Price can potentially rise to our 1st resistance level at 760'0 in line with the 127.2% Fibonacci projection and 161.8% Fibonacci extension. Alternatively, price may head to our 1st support at 689'4 in line with he 61.8% Fibonacci retracement level. Our bullish bias is supported by how price is moving above the ichimoku cloud.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, as general market commentary, and do not constitute investment advice. The market commentary has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is therefore not subject to any prohibition on dealing ahead of dissemination. Although this commentary is not produced by an independent source, FXCM takes all sufficient steps to eliminate or prevent any conflicts of interest arising out of the production and dissemination of this communication. The employees of FXCM commit to acting in the clients' best interests and represent their views without misleading, deceiving, or otherwise impairing the clients' ability to make informed investment decisions. For more information about the FXCM's internal organizational and administrative arrangements for the prevention of conflicts, please refer to the Firms' Managing Conflicts Policy. Please ensure that you read and understand our Full Disclaimer and Liability provision concerning the foregoing Information, which can be accessed on the website.
CORN - SHORTSee chart, plus deflation, plus LT Trend, and MACRO. Short here for maybe months, initiate position with 50% of Max size for a trade.
Morning Routine: Re-Entry into swing trades (corn long)Looking for symbols on my watchlist or high_of_day scanner that allow a re-entry (which are below prior weeks high).
www.tradingview.com
Setting alerts on 5 min chart when price makes new POC or wavetrend signal
Trailing stops on new highs.
Setting alert if new weekly high is reached, to be prepared to exit a trade.
Decemeber22 CornDecember 22 Corn - Weekly: So far new crop corn has done a good job staying above the blue Tenkan line at 5.60. The most volume by price is in the 5.45-5.60 area. This could eventually act as a magnet to pull price down to….
The primary target at 5.78 has been filled. Targets above at 6.05, 6.24, and then 6.49.
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.
Corn: Continuous CornCorn – Weekly Cont: Price action working above the supportive Cloud, blue Tenkan line, and downtrend line.
Target above at 6.84. Primary target at 7.08 and then last year’s high at 7.35. ** 162% retracement target at 8.82 **
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.
ZC marketWe notice nice bullish break out followed by a pull back for correction now make average buy of ZC
Cup and HandlePossible stop under Handle Low which is 587.6 or where you see support.
Mid cup is 566.5 and cup low is 506.6
No recommendation.
🌽corn looks pretty ripe for a nice little reversal
saw a clean 5 waves down into Wave (A) to the 0.382 algo target, and is currently trying to poke out of the downtrend it's been in.
i do believe that this mean reversion begins in the days ahead for the Wave (B) swing to the 0.618.
Wave B target = 642
Wave C target = 423
🌽 bear market continues?in my last post, i called out the corn bottom via 👇
people told me some weird things about that call out, something along the lines of "no way bro"
well we hit my target m8.
are you going to short corn?
Pay no attention to the 'fertilizer shortage' hypeIf the world is about to reel from a shortage of fertilizer, then why is March corn dumping this AM?
Not suggesting to sell corn here. Rather watch for a long entry point in a TF that matches seasonal rise tendencies.
Corn Corn CornDouble-bottom -> break-out -> break of the descending trendline -> now a re-test of the trendline and MA's -> I think we will be soon ready for a bullish move!
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.
CORN - SHORT Was long for 18 months, time to consider normalization of prices and OH YEAH, peak inflation is in.
