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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TGCN1! trade ideas
CORN FUTURES, 1D, CBOTTrading Signal
Short Position (EP) : 374.5
Stop Loss (SL) : 380
Take Profit (TP) : 362.25, 346
Description
ZC formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (374.5) and place stop after 0.618 level (380). Once the position was hit, place take profit before an agreement (362.25) and 346
Money Management
Money in portfolio : $150000
Risk Management (1%) : $1500
Position Sizing
$0.25 = +-$12.5 (Standard)
Commission fee = -$2.82/contract (Standard)
EP to SL = $5.5 = -$275/contract (STD)
Contract size to open = 5 standard contracts
EP to TP#1 = $12.25 = +$612.5 (STD)
EP to TP#2 = $28.5 = +$1425 (STD)
Expected Result
Commission Fee = -$9.02
Loss = -$440
Gain#1 = +$588
Gain#2 = +$912
Total Gain = +$1500
Risk/Reward Ratio = 3.34
Corn Future DEC18 (1d)Trading Signal
Long Position (EP) : 358.25
Stop Loss (SL) : 355.25
Take Profit (TP) : 367.25, 371.25
Description
ZC formed Double Repo Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (358.25) and place stop after 0.618 level (355.25). Once the position was hit, place take profit before an agreement (367.25) and 371.25
Money Management
Money in portfolio : $133,000
Risk Management (1%) : $1,330
Position Sizing
$0.25 = +-$12.50 (Standard)
Commission fee = -$1.67/contract (Standard)
EP to SL = $3 = -$150/contract (STD)
Contract size to open = 9 standard contracts
EP to TP#1 = $9 = +$450 (STD)
EP to TP#2 = $13 = +$650 (STD)
Expected Result
Commission Fee = -$30.06
Loss = -$1,350
Gain#1 = +$2,250
Gain#2 = +$2,600
Total Gain = +$4,850
Risk/Reward Ratio = 3.51
Corn Future DEC 2018 (1d)Trading Signal
Long Position (EP) : 368
Stop Loss (SL) : 364.5
Take Profit (TP) : 384.5
Description
ES formed Double Repo Buy at 1d time frame. Trade setup with Buy Limit at 0.382 Level (368) and place stop after 0.618 level (364.5). Once the position was hit, place take profit before an agreement (384.5)
Money Management
Money in portfolio : $133,000
Risk Management (1%) : $1,330
Position Sizing
$1 = +-$50 (Standard)
Commission fee = -$2.82/contract (Standard)
EP to SL = $3.5 = -$175/contract (STD)
Contract size to open = 7 standard contracts
EP to TP = $16.5 = +$825 (STD)
Expected Result
Commission Fee = -$39.48
Loss = -$1,225
Gain#1 = +$5,775
Risk/Reward Ratio = 4.57
Previous Target hit. 1D Channel Down continuation. Short.The TP = 372.20 has been hit and the 1D Channel Down (RSI = 37.956, Highs/Lows = -0.2679, B/BP = -1.4820) continues to deploy on a standard manner. Next TP = 337.20 which is the November 13, 2017 bottom and a very likely candidate for a rebound. If it breaks then 320.40 is next.
CORN Calendar SpreadZCU18-ZCZ18 has started its seasonality in March (precisely March, 14) and will end on August, 4. Spread that now is back interesting for open a short position for several reasons. Not only the seasonality (20 winning years in last 20), the Relative Strenght Index is in strong overbought and there is a "fundamental" consideration.
The September delivery future will increase its value more when corn is harvested compared to the December contract. In practice, there will be an expansion of the contango. The price of the corn (but not only) is always higher before the harvest. Then it arrives on the market and increases the offer, and if there is not also an increase in demand, the price will start to fall (as the seasonal patterns suggest) and it is for this reason that I sell the corn in hedging between May and June.
