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Short
Updated

Commodities - Lumber Short

631
Idea for Lumber:
- Lumber has a good short setup.
- By Elliot Wave Theory, correction needs another wave down.
- Possible continuation on downtrend, if Wyckoff Distribution is confirmed.

TP1: 1100
PT: 400

GLHF
- DPT
Trade active
go time
Trade active
China Impulse Downturn gives confidence in the trade:
China Credit Cycle & US Markets
Trade active
On retest, will add to short positions
Trade active
Lumber confirming a downtrend with a new 20D low: snapshot
Trade active
TP1 hit, no bounce is a signal of broader market reversal
Trade active
Rocketing straight down. No bounce: snapshot
Trade closed: target reached
Here is a good level to close the position.
UnknownUnicorn1043646
Chart PatternsCommoditieselliotwaveprojectionfuturesLBS1!lumberlumberfuturesWave Analysiswyckoff

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Chart PatternsCommoditieselliotwaveprojectionfuturesLBS1!lumberlumberfuturesWave Analysiswyckoff
UnknownUnicorn1043646

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.