CORN
Long the CORNKeep it simple stupid.
I will buy on breakout to the upside with volume. Or, more conservatively, wait for a retest after breakout.
Entry around $16.5. Resistance levels marked on the chart at $20, $23, $27, etc.
Why would I make this trade?
> CORN consolidating...CORNSOLIDATING!
> RSI Increasing
> Equity prices are falling across the board. See the DOW and S&P500.
> Commodity prices are rising as investors move into safer assets. See WEAT, Silver, and Gold.
> Corn is king. And used for food, packaging, and fuel.
What will happen as the world enters recession, instability, climate change, maybe war? Which assets will capital move into?
Rule yourself.
*This is not investment advice*
#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)
BitcornBitcoin possible inverse head and shoulders pattern with increasing RSI on 4H chart. High volume break of 4500 confirms pattern breakout with a target of major resistance in the 5700 range. Breakdown below 3700 invalidates pattern suggesting a test of the lows. Hold on to your bread shits about to get real
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 BUYHi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Don’t take a trade if you don’t see clearly when big guys are in.
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 1D BATSPlease see the comments on the chart:
In sum, I'm watching these indicators:
385 MA (greater than 2% above, breaking a multi year precedent)
Bullish movement this week
Calendar year performance (not negative?)
OBVOSC Higher Low
RSI Bullish Divergence
****Not covered here -- tariffs: 1st and 2nd order effects
Shorts skyrocketing AGAINWhats happening here? After the slow squeeze these last tzwo weeks shorts are up again 50% in a day. Somthing is in the making. I reckon we will get a massive move the next days. Buckle up!
Volaltility extremely low for Bitcoin - massive move incoming.Volatility is on historic lows. I expect a massive move incoming. We still havethis massie short position open from last post. Possibility for an impulsive short squeeze other than the last slow short inverse bleed. I'm leaning bullish.
Shorts still extremely high - no squeeze yetShorts are still extremely high. On the 1D-chart you see we didnt have a real short squeeze yet. Also Yesterday some wallet moved 100 Million $ worth of BTC to Bitmex.
BTC-Shorts skyrocketingBitcoin shorts on Bitfinex skyrocketing. A lot of people expect more downside. Might lead to a short squeeze, where the whales use the retailers as liquidity. Last time the shorts were at ATH was at the beginning of April where the shorts were squeezed with a $1.5k candle.
Can we get back into the 1D-cloud?Ok we habe bullish divergence until nirvana on all oscillators, 1D stoch RSi (not in the chart) still close to zero. I think we will get up until about 6750ish and retest the cloud. There is also a high liquidity zone. Chances are we get hammered down there and see some more downside. A close inside the cloud would be a good sign and maybe this was just temporary because of the postponed ETF-FUD. We didnt make a lower low yet but we are very close.
Wheat, Soybeans, and CornWhy Wheat and why now. What about Soybeans and Corn.
Looking across the Ags, it seems that Wheat is enjoying the most upside. Why is this. In keeping with my focus on the DMI and ADX, I think you’d have start by looking at the monthly chart of the 3. One of the key tenants of DMI/ADX is that best trades seem to originate when the ADX is below 20 for an extended period of time. And, for Wheat, that has been since June of 2013. Since then, it has moved between a couple of lines and for the most part, remaining below the 13 period EMA of the high.
As an aside, in my previous articles, I used EMA’s on the close of price but have moved to a 13EMA on high, 26EMA on low and 20EMA on close with the intent to use them as a channel for pullbacks based of ADX action.
June of last year, the downtrend line was sharply broken but before that, the DMI made a significant move when the +/-DI swapped. Although this had happened several time during the past 4 years, what eventually became important is that the low of this candle was never broken while the high was continually tested and broken with the last time starting the recent uptrend. Also, note that during this time that the +DMI continued to make higher highs will not making lower lows. With the ADX moving above 20 in May of this year, a strong signal was given that the market was ready to move up.
Now, consider the same discussion for ]Soybeans :
Notice the size of the candle that caused the last swap. I’ve included a possible consolidation pattern.
And for Corn :
With Corn the interesting thing on recent action is that the DI’s changed dominance but did so where the swap was to -DI but with a green candle. I don’t see this too often but seems to give mixed signals.
Stochastic RSI on ZeroThe Stochastic RSI indicator on the daily is as low as Zero, the lowest since Septemper 2017. Its resting on support and on the bottom of the ichimoku cloud (see last post). If we break through there it could get ugly. Until then im neutral positiv.
