CORNF trade ideas
Corn: Breakout Might Be ImminentComments on the chart. To avoid participating in the 'price at resistance' shenanigans' traders might want to wait for a close above and retest of the breakout area. It is the safest option
Corn breakout of a huge falling wedgeCorn (CORNUSD) has broken out of a bullish falling wedge that confirmed by huge trading volume. Price advance may extend to short-term target at 4.8-5.0 or even 5.5, stop loss at 3.6
Lower sowings bullish for corn pricesCorn prices rose sharply on Thursday after the US Department of Agriculture's weekly sowings and stocks reports. The sowings report indicated US farmers plan to reduce corn sowings by 2.14m acres to 88.03m acres, below an expected 89.42m acres. Farmers cited intentions to switch to cotton and wheat, which command relatively higher prices, as the primary reason. Lower corn supply expected from smaller sowing area is bullish for corn prices. A bearish risk for corn is possible further weakening of demand for the crop as USDA stocks data implied corn consumption in the previous three months at 3.68bn bushels, compared with 3.76bn bushels during the same period last year.
On the daily timeframe CORNUSD had been retracing after hitting eight-month high in mid-March.
The Donchian channel is tilted up indicating uptrend.
The MACD indicator is above the signal line and the gap is widening, which is bullish.
I believe the bullish momentum will continue after the price closes above the upper boundary of Donchian channel at 3.828. This level can be used as an entry point for placing a pending order to buy. The stop loss can be placed below last fractal low at 3.623. After placing the order, the stop loss is to be moved every day to the next fractal low, following Parabolic signals. Thus, we are changing the probable profit/loss ratio to the breakeven point. If the price meets the stop loss level (3.623) without reaching the order (3.828), I recommend cancelling the order: the market has undergone internal changes which were not taken into account.
Technical Analysis Summary
Position Buy
Buy stop Above 3.828
Stop loss Below 3.623
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CORN GOING LONG?I'm anticipating corn prices to ascend to highs of $5 in the next couple of weeks guys.
Break of this trend line should give the green light for all the bulls!
I am however expecting a kiss on the trend line accompanied by a sharp reversal to the upside target of $5.
I'll give updates on this idea!
TP: $5 [ /i]
Corn: Buy DipsThe current declines are a regular counter trend dip, triggered after hitting the weekly resistance area around 3.85. This decline could continue for a couple of days after which base building should occur around the key support at 3.649. here the weekly cloud support and daily retracements and regressions fall together. Note that base building can easily take up to 3 weeks to fully pan out.
Expect a bit more weakness followed by a period of choppiness. The longer term remains bullish targeting 3.85 and 4.07 after that.
Primary trend: positive
Outlook: regular counter trend dip, positive
Strategy: hold-long and/or buy dips
Support: 3.649 / 3.592
Resistance: 3.85 / 4.07+
Outlook cancelled/neutralized below 3.592
OANDA:CORNUSD
super buy status on cci - retrace immediateon weekly, we have a super buy trend peak.
this week and next will see a retrace.
fr
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.
Long Term Corn Buying Opportunity Corn is currently retesting a strong S/R level dating back to 2004. If it holds this will be an excellent long term high R/R long trade setup.
Corn , possible huge breakup in 3/8 daysCCI long deep sold is changing.
get ready , dont use capital you cant afford to lose.
good luck
fr
CORNUSDDown Trend.
Price close to the upper band of regression line.
Bearish engulfing.
Bearish divergence.
CORNDown Trend.
Price outside the upper band of regression line.
Bearish engulfing.
Overbought Indicator.
