Corn Futures Towards a Decline With Very High Probability!Hello ladies and gentlemen, according to my graphical analysis Of The Corn Futures , there is a very high probability of drop to the 549'4 level in the coming weeks.
TGCN1! trade ideas
Corn at key level for the week My bias is still short on corn. Will look for a pull back down to around 535. Based on price action above 555 it may be prime to cover and go back in long with a target of 565 - 570
CORN FUTURES Towards a Decline With High Probability!Hello ladies and gentlemen, according to my graphical analysis Of The Corn Futures, there is a high probability of drop to the 524'0 level in the coming weeks.
Corn support - monthly chartCorn at a 10 year support on monthly chart. Funds in extreme short position and Commercials extreme long could move the price higher soon.
Traditional|ZC1!|LongLong ZC1!
Activation of the transaction only when the blue zone is fixed/broken.
The author recommends the use of anchoring fixed the blue zone, this variation is less risky.
If there is increased volatility in the market and the price is held for more than 2-3 minutes behind the activation zone after the breakdown, then the activation of the idea occurs at the prices behind the activation zone.
The idea is to work out the resistance level .
* Possible closing of a trade before reaching the take/stop zone. The author can close the deal for subjective reasons, this does not completely cancel the idea and is not a call to the same action, you can continue working out the idea according to your data, but without the support of the author.
+ Maybe right now we will go even lower, then it's okay, the idea is not activated and simply canceled.
+ ! - zone highlighted by the ellipse is a zone of increased resistance, in this area there is a possible reversal for a correction, please take this factor into account in this transaction.
The "forecast" tool is used for more noticeable display of % (for the place of the usual % scale) of the price change, I do not put the date and time of the transaction, only %.
Blue zones - activation zones.
Green zones - take zones.
The red zone - stop zone.
Working out the stop when the price returns to the level after activation + fixing in the red zone.
Orange arrow - the direction of take.
Black arrow - neutral scenario without activating the trade.
The red arrow - the direction of the stop.
SUM PNL: This parameter displays the total % of all closed ideas of the "new" format (according to the author) for this sector at the time of publication of the idea. The calculation is very "clumsy" just the sum of the profits of all the ideas, based on this indicator, you can more accurately assess the risks when working with my ideas of this sector. I present you the construction of the idea, you can use it yourself as you like based on your subjective view and risks, the calculation of the PNL indicator is carried out only on transactions that the author closed on TV in manual mode or by take.
P.S Please use RM (risk management) and MM (money management) if you decide to use my ideas, there will always be unprofitable ideas, this will definitely happen, the goal of the system is that there will be more profitable ideas at a distance.
Cup and Handle May 2021.
Cup low is 326.5. Cup depth is 197.50. Mid cup is 425.30. Handle low is 491.
Support at handle low and mid cup.
Not a recommendation.
Appears to have a bull flag as well.
ZC Short - close gapBefore continue the up move to 610 due the high demand from China
Corn need to close the GAP to prior POC
Corn futures contract in MayAccording to Price Action and SDZ: Corn is showing signs of about to accelerate strongly in the near future, the support zone of the week converges with the support of the month, and the current price is in the support zone of the week, wait. Confirm a higher bottom by placing a candlestick in this support and maybe entering a buy, SL order at the bottom of the support zone.
May Corn FuturesBuy @ 545 / or a retracement down to 540
stop 535
target 570 / a test of the highs on 9 Feb
Long Corn FuturesCBOT:ZC1!
I really like set ups like this: corn broke out of 5-6 year consolidation period - looking for a retest of the top of the range before more upward movement.
Remained bullish, but critical time for the bull !Even though I remained bullish for corn with my target near 600. But with the negative atmosphere in the gas market, corn could fall into the 519 - 525 zone in the next few weeks.
March Corn. Possible TL and S/R confluence Trade.The lines wouldn't have been drawn in until after the move was made. I don't think you could have caught this one using the S/R and TL extension confluence strategy. At least I don't think I could have.
A very textbook trade that I planned weeks ago !After two weeks of consolidating, we started to see some money flow last Friday. They could also be "bluffing" so we need to closely watch the price action on Monday and Tuesday.
My target is somewhat less positive and it could be 590, not 620.
Lots of demend for Corn in the weeks to come?This is Corn Futures Weekly chart.
This chart pattern usually predicts a very strong upward move!
It's an up-sloping pennant pattern while the Stoch RSI shows a down cycle. This suggests that price are experiencing an uptrend in what is supposedly a typical retracement.
Price has already bounced off the 20MA on the Daily chart , which means the better entry timing is missed. You can look to enter on a 4H time frame or just accept a lower risk to reward. I think it's fine to accept a lower risk to reward since this is based off a Weekly chart.
Be sure to watch the liquidty & contract period.
If you have any symbols that you would like me to analyze, feel free to drop me a comment!
Thanks!
$ZC_F March/December Corn SpreadThe best cure for a high corn price is a high corn price because producers will plant more corn next season to take advantage of the current high price and inadvertently drive up the supply which will in turn drive down the future price. Assuming supply through March is scarce and by December it will be relatively plentiful, it makes sense to go long the March contract and short December because the March contract should outperform the December. Both can go up and down together, March just needs to outperform. Yesterday was a red day for both contracts and today is a green day for both, gains in the March/December spread were realized on both days. The December leg can be closed for greater reward if March corn resumes the strong upward rally but the risk will be greater because there will no longer be a balanced quantity of contracts mostly cancelling each other out. I currently have one contract of each and am playing it by ear because spread trading is new to me. I may up the quantity to two or three each depending on how the trade goes and if my broker will let me.
Enough shorts underwater to spark a Short Covering Rally in ZCN0Managed Money added about 30% to their position since early may, in ZCN0 contract most of that increase is under the 325 level, would take profit in the 335-340 zone if long.
Buying the POC on the daily chart with highest volumeCorn long entry was triggered, especially after the bounce of prior POC on the daily chart, looking forward to see prices above 560 on corn...
