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Corn Futures (Sep 2023)
Long

Corn prepares for a bullish move🤘

By p4917
Updated
As described here - I'm planning to catch the breakout. Let's see if this plays out as I think. In any case - I wish you a good 2023 with lots of good trades. ;)
Trade active
Limit buy order was been filled today. Looks like the MAs are giving sufficient support.
Trade closed: stop reached
Big red candle reached the SL and killed the trade. Okay, was a very speculative position. I'm expecting the price never the less to rise, but I'm waiting now for a break of the upper falling trend line before doing a re-entry in this instrument.

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Trade active
Re-Enty long. Because on the current contract the falling trend line seems to be confirmed now. On the Sep contract it could be a local double bottom. But I assume that the current contract overrules the future contract.

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Trade active
Tightly drifting above my SL level, but then came the bullish impulse. Looks good so far.

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Trade closed: stop reached
2nd trade SL reached. Seems like the correction needs a bit longer. Next entry not before the next trendline breaks.
Comment
Overall I'm still bullish in CORN. The current contract forms this beautiful bullish flag. If this persists until the WE I'm considering to open again another position in the SEP contract, because I think the current contract will lead the market and the later contracts will follow.

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