COW / Live cattle 2018yr setupBased on US-T as well as "cash cow" yield rising in 2017/18 current draw in live cattle could be continue.
Looking forward to buy the dip in COW, time horizon - early summer.
Livecattle
LIVE CATTLE futures . Long on retracementLive Cattle -0.04% prices tend to follow clear trends , as can be seen by the descending channel from 2015 to 2017 (almost 2 years)
Options expiration is February 28.
I will look for support on the current parallel or retracement to the lower parallel for a long entry. Stop below previous low and take profit at 25 centile. Depending on price action I may keep the trade open and move stop up to 25 centile.
Possible trades are outlined.
I would become bearish if price falls below the lower parallel
New advance in Live Cattle Futures?I´m bullish for Live Cattle. Although it seems that 120 marks a Double Top in the Futures, this can be only wave 1 of a further advance in wave C. The wave count would be invalid if wave 2 breaks to new lows. Otherwise a significant advance above 120 would support my bullish view. Next targets are 127 and then 134.55.
Live Cattle Still BullishLive Cattle is building out a possible Shark Pattern. Next downside target at 114.625 before continuing up.
Live Cattle TopDecember Live Cattle has created a evening star Doji along with two other dojis in overbought market extending into a Cypher pattern extensions. Possible retracement to 109.400, then 108.525 to fill small gap left back a week ago. Cattle in uptrend so caution to extent of drop should be noted.
Live Cattle eyeing double topDecember Live Cattle is rose today off a retracement yesterday. Candle suggests a possible climb to double top at 110. Support is now 106.700. Have had an open bullish Cypher that is still possible. Cattle has seen some aggressive bullish trading for a long time now and it may not stop for a while. Double top will suggest how strong this bull market is.
Live Cattle Bearish FlagDecember Live Cattle tried to promote a bearish flag today. Some traders really want a double top for Cattle at 104.825, but there is more opposition to a downward movement than up. I am not counting out the bulls just yet. They are an ornery bunch. Suspect more up and down to follow. Bearish Flag still in the running though, but still in an uptrend.
Live Cattle bullish flagDecember Live Cattle produced a bullish flag today. This ones a little more questionable. Need to see if upward movement starts around middle of the flag to suggest a bullish flag. This is still an uptrend market. This market like Hogs is caught in a wedge. Until confirmation of direction won't know if this will continue bullish for a double top or bearish.
Live Cattle hit 103.500Live Cattle rose off the harami pattern to 103.500 target and traded back to 103. There is a wedge forming and predicted outcome unsure. The only thing that can be guessed at is cattle prices tend to go lower into spring. Since cattle prices came down after reaching target, this may suggest a turn around at some time. Looking for dojis or spinning tops at this point. RSI is still on the rise. Until this shows a break, we are still in an uptrend.
Live Cattle HaramiDecember Live Cattle has created a harami bullish setup. Projected rise to 103 or above. Live Cattle locked in a horizontal pattern. The down slide Firday did not get to 101.375. Support comes in at 101.500.
Live CattleDecember Live cattle has formed a tombstone today suggesting an end to upward movement. Struggled to make higher highs. Still watching for a double top at 104.800, which may not produce anything. Short term bearish butterfly forming. Market doesn't want to go down and doesn't want to go up. Initially did a double top at 103.625. This may be the turn down. Also could walk itself up to 104.800, then turn. A lot of sells were appearing near 104 today.
Live CattleDecember Live Cattle broke up sharply today creating a gap. Looking for a double top with the B position of the Gartley or the A position.
Live CattleLive Cattle broke trend a couple of weeks ago. Now in a congestion pattern. Live Cattle after January usually starts lowering. Not saying it will do this, it is just what previous years have shown. Open Interest is flat. Until next trend is achieved just watching. This is December contract, but all are doing similar things. Cattle may try to double top in the next week, or completely fall.
Live CattleTook several pushes to close the gap left on the 27 of January. After which we see a fall in price. Support of the fall is at 112.225. Live Cattle may continue to falter or make another drive for a double top. Cattle are moving out of the Gann Fan 1/1 and into the next level weekening this uptrend.
Live CattleApril Live Cattle continues inside the bullish flag and has hit the upward trend line. CCI has been breached. No clear sign of a continued uptrend, or a downtrend off of the completed Cypher pattern. Support is at 114.825 point X of the Cypher pattern.
Small body candle Friday may be indicating reversal as it has in the past, however, historically, Cattle moves lower in February to May. This flag may go sideways. In the long run, look for double top reversal, or continued downtrend.
Live CattleApril Live Cattle is still in bullish flag and has hit uptrend line, broke the CCI line below, and is under the 2 day moving average. Possible upside tomorrow, unless trend broken and stays under trend at end of day, this could be a turning point.
Live CattleApril Live Cattle continues building the bullish flag. May see an up day tomorrow as whenever there is a fall, it gets immediately bought back up. Next target for bulls is 122 area at 141.4% of Fib. Support at 116.175. This market could use a little more down to clear out RSI.
Live CattleApril Live Cattle is creating a bullish flag setup. Based on previous flag setups for this uptrend, at least two bearish candles need to be created and then the up surge. This market is still a buy until trend is broken.
Live CattleJune Live Cattle was a disappointment with only a little gain off the bullish flag. Now in overbought territory, we may see a fail here and lower prices. If bulls can push higher we may see 109.65 as next target for bulls. With a higher high and not a doji, it might be a little at a time for the upside
Live CattleJune Live Cattle rises out of a large bullish flag. Next target for the bulls is in the 110 area and further up to 111.075 to complete the Butterfly.
Live CattleJune Live Cattle fell today and outside the bullish flag. Still inside the mini Cypher pattern. Seeing this as still a bullish market until which time it turns. See prices play around the 105.350 area.
Live Cattle another Bullish FlagJune Live Cattle maybe creating another bullish flag. This market is still bullish and remains in the 1/1 Gann Fan and is above the 20 day moving average. Will we see a fail tomorrow for lower prices? We should note that Live Cattle has made the top of the mini Cypher pattern extension.
