CORN - Strong trend continues...Hi TViewers,
CORN is continuing it's solid trend from it's break above the 3.40(ish) mark and is looking very strong.
As you can see on the chart it has pushed through it's previous minor resistance points at about 3.70 with excellent volume which would lead us to believe it will continue.
We could look to buy here if you weren't already long. Those looking for more assurance could look at the possible crossing of the 50/200 day SMA as entry point. This "Golden Cross" will be a big bullish signal and if it get's solid volume it will be another excellent sign for CORN.
This is not financial advise.
Please don't invest more than you can afford to lose.
Let me know your thoughts in the comments below.
CORN
short the heck out of DEC.soybean meal (SM1!)super promising trade of 1st quarter short the heck out of soybean meal (SM1!) overview of past weeks ytd www.agweb.com and upcoming action www.agweb.com 4Hr DAILY WEEKLY im personally bearish meal due to the huge runup. www.agweb.com "South America Conditions - The 2018 Argentina bean crop is one rain event away from being significantly large. This could hurt exports for the US crop forcing a larger carryout. A supply disruption in South America is really necessary for a significant price increase at this point.
Guaranteed Profitability - I know beans are profitable now and corn is not, so I want to lock in prices." my target of december 2018 contract is below last years low of 2017 at or near 300. aLSO, MY FIRST CHART INDICATOR (ENI) IS ABOUT READY TO BEGIN ENTRY INTO RED ZONE IN A FEW DAYS.
AS ALWAYS DO YOUR OWN DUE DILIGENCE.
Log fractal play on the corn.$BTC looking like a fuggin snack.
"And look at that pullback! $BTC w/ red on the daily, crucial close coming up : above trend/in cloud = head to diag. resistance or below trend = next diag. level.
Was looking at this, check out how the red boxes align. Not a big fractal guy, but interesting stuff to watch."
That being said, if we close below, fractal is fucked.
21/12/2017 - BTCUSD - update21/12/2017 - BTCUSD - update
With the BCH fuzz, bitcoin took some hits lately. + Congested network which could be solved if everyone would upgrade to Segwit..
Lots of interesting stuff going on.
Bitcoin seems pretty weak at this point, don't use too much leverage as it might take another leg down.
Always keen to enter a discussion here, or let me know your comments.
This is no financial advice
Risk management IS KEY
Trade accordingly – use SLs
Trade at your own risk
Follow me on Twitter: twitter.com
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Tips are welcome, but not at all necessary
BTC: 18D82nnqc7H3P3WuSB5gtJPnkJwPzYHkEj
LTC: LUTu5GeihTGhpDUtFAiHpVAZJo24r3LVyh
ETH: 0x57575b1b0950cae3a8d10ae7443c5a0b95465c86
15/12/2017 - BTCUSD - Rising wedge on larger time frames15/12/2017 - BTCUSD - Rising wedge on larger time frames
Smaller time frames are bullish, however looking from a larger time frame, we see that there has been a rising wedge for a week.
BTCUSD Longs are increasing, BTCUSD Shorts maintain around the same level. - take in mind that all those longs will take profit at some point.
Trading the breakout?
- expect a lot of stop losses getting hit (either way)
Always keen to enter a discussion here, or let me know your comments.
This is no financial advice
Trade accordingly – use SLs
Trade at your own risk
Follow me on Twitter: twitter.com
Tips are welcome, but not at all necessary
BTC: 18D82nnqc7H3P3WuSB5gtJPnkJwPzYHkEj
LTC: LUTu5GeihTGhpDUtFAiHpVAZJo24r3LVyh
ETH: 0x57575b1b0950cae3a8d10ae7443c5a0b95465c86
10/12/2017 - BTCUSD - update10/12/2017 - BTCUSD - update
BTC fell through previous channel.
Now trading again in an upwards channel within the bear channel.
Always keen to enter a discussion here, or let me know your comments.
This is no financial advice
Trade accordingly
Trade at your own risk
Tips are welcome, but not at all necessary
BTC: 18D82nnqc7H3P3WuSB5gtJPnkJwPzYHkEj
LTC: LUTu5GeihTGhpDUtFAiHpVAZJo24r3LVyh
ETH: 0x57575b1b0950cae3a8d10ae7443c5a0b95465c86
Seasonal Swing In CORNIt must be thanksgiving and Christmas because CORN has been looking ready to pop for some weeks now. December/January is a typical bullish swing for CORN.
I expect price to move up into the 3.68 level in the coming week or two. Beyond that will be hard to say. There is some strong Bearish market structure lurking around.
Note: All ideas expressed here are presented solely for learning and educational purposes only. Any gains or losses assumed by trading ideas presented by The Bad Panda are done so at your own risk.
LArgest 4 or less traders in corn by GROSS Positions Please review CME group commitement of trader's report (4 or less largest)
As of Date: 7/3/2017Total OI: 1,753,868
Long - Short
156,094 --- 175,387
As of Date: 7/11/2017Total OI: 1,840,817
Long - Short
167,514 --- 213,535
As of Date: 8/22/2017Total OI: 1,874,724
Long - Short
185,598 --- 243,714
As of Date: 8/29/2017Total OI: 1,707,700
Long - Short
158,816 --- 203,216
Asset Active months March (H); May (K); July (N); Sep (U); Dec (Z)
CORN ZC
Open Interest :
Highest 2,080,000 contracts Average: 1,775,000 contracts
Lowest 1,470,000 contracts
Asset managers OI Date OI on date Percent of OI Ave. OI net
Most Bulish net OI 342,893 21/08/2012 2,073,500 16.54 1.48
Most bearish net OI (229,176) 8/3/2016 1,687,116 -13.58 Previous Change
current (64,945) 29/08/2017 1,707,700 -3.80 -0.91 -2.89
Producers OI Date OI on date Percent of OI Ave. OI net
Most Bulish net OI (13,396) 5/11/2013 1,941,041 -0.69 -13.65
Most bearish net OI (555,715) 14/06/2016 2,088,225 -26.61 Previous Change
current (231,883) 29/08/2017 1,707,700 -13.58 -13.72 0.14
Swap dealers/ deal OI Date OI on date Percent of OI Ave. OI net
Most Bulish net OI 305,017 7/10/2014 1,893,351 16.11 13.18
Most bearish net OI 197,349 13/06/2017 1,923,781 10.26 Previous Change
current 234,747 29/08/2017 1,707,700 13.75 12.11 1.64
Other reportables OI Date OI on date Percent of OI Ave. OI net
Most Bulish net OI 134,212 8/11/2016 1,751,431 7.66 4.40
Most bearish net OI 21,663 17/07/2012 1,916,920 1.13 Previous Change
current 63,374 29/08/2017 1,707,700 3.71 3.01 0.70
Corn Preparing to Turn?Corn has been decelerating for quite a few months now and is currently rejecting key resistance (monthly 200ema/200ma + monthly fibs) with a high-test.
Price action seems to be hinting at a turn from here in the near future down to $302.00, the September '09 low that sent us into an enormous rally to form the '12 highest high. I'm watching for a rejection of this 09' level over the next year or two that should align with the bottom in wheat. I expect a HUGE rally following that bottom to retest $746.00
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Thanks!!
Corn setting a base for up trendThe monthly cornusd chart looks like it is setting up a base for a new uptrend to begin.
October '15 new resistance->support line at 3.502. Price has closed and held above this line for past 4 months.
+DI up and ADX is rising though still below 0
TRIX divergin with price since 2014 with 3 points of focus
Stoch coming off oversold and moving up
Weekly
3.644 last key resistance->support with price currently sitting on it.
Though below 20, +DI and ADX beginning to trend up. The TRIX near 0 but remains positive
Daily
In all 3 time frames, ADX and DMI are not that strong but positive. TRIX put in a sup->res line at 3.648. Price is currently spinning on this point and will be key to hold if price is to move higher from here.
short PUT on CornAccording to the seasonal pattern (summer rally), Corn Future is on its move to higher ground also raising volatility along its move upward. This trend is supported by the commercials' net long position, which comes from the closing out of the short positions. OI is rather low, meaning that public is not the driving source behind the price movement.
Option Trade Idea:
short Put 355
duration 60 days (July 17th 2017)
Premium: 1 7/8 (x5000) = appr. 100$ per option
Delta: 11
Volatility: 22.2%
Corn: Bear Flag Under the TrendlineLooks like a flag to me.
My indicators do not yet align with the idea on this time frame...I will update using lower time frames below.
Also note the bearish 2618 set-up which completes @ 393.
If you have any comments or feedbacks on this idea or your own view on Corn, please share!