Wow...this is going slow. We mentioned that this could chop until harvest begins. Smells like this happening. If it chops for another week we will cover our position and wait.
Corn is holding on and it's now go or no go. Corn could start to go sideways until harvest begins. We are watching this very closely. We are still long and will stop out with a close in the descending wedge.
Corn still acting well. Back to the break out area is normal. If it breaks down from here we will most likely see more downside. A bounce from here should test the most recent swing highs.
This is one of our favorite patterns. It usually suckers people into believing we will see more downside. The larger players will usually dip below the wedge and get new shorts stuck and then squeeze them. (similar to Corn recently) If they break it to the upside we should see a quick move due to weak shorts being stopped. This is high on our watch list.
Corn is still acting well. We were able to take off half our position this AM. We didn't quite hit our first target at the gap fill but captured some decent profits. IF price closes inside the descending wedge we will be out for a small loss and will look for another set up. Stay tuned!
Corn is working well. As an FYI this (ZC1!) is the continuous contract and is priced a little different than the DEC contract. However, the patterns are still the same and they are both working well. We are still long and looking for the gap fill (on continuous contract). We could see some sideways to down movement over the next few days before we start to...
And there she is! After the crop report the boys decided to give a little head fake and run the stops of the weak longs. Now if we get above the 362.2 we could see a nice squeeze would could pop us. We are long and will be holding for the gap fill. Understand we are not fools at OFT... we can read. We understand that the agency is calling for a record 14...
AUGUST crop report is due out this morning and we are watching. There isn't a lot of markets to be trading at the moment but that's summer time trading. However, with happenings in Russia there could be some movement in the grains. We are watching to see if they push things down and get later comers short in the hole before squeezing them. We would like to be...
A moderately interesting comparison to the coffee rally of 1976. While the damage to the coffee production from the recent 2013 drought remains unclear, Arabica coffee tends to have a very forgiving and quick price revision tendency.
ZW reversal is confirmed. I've entered long here, twitting more @luigizerozero, not much time to publish idea here.
Price has been trading steadily within a long term bullish Uptrend Channel, since Jan 2011 up till today (24 July 2014) Price has recently trace from High of around $81.00 (26 Nov 2013) and found support along the Uptrend Channel Line. We also note a minor double bottom (31 Jan 204 - 16 May 2014) within the Channel. This indicates a reversal of the bearish...
For a better aroma, I will be watching these supply and demand levels on a daily time frame. For now I will go short.
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1.Main downsidt support is broken. 2.Wheat found support. 3.All oscillators says thet is bullish time. I will buy now on 591,6 SL 555 TP 720
Corn has fallen to far to quickly. We are now back to the original buy areas. If you are still holding from the buy point this will be a good lesson. It is important to take some profits on the way and trail stops. We missed this trade but for some it was very profitable. If price jumps to our sell zone we will look for a short signal.
At the beginning of the 2008 while the sub prime crisis start to be feared by all the wheat touched peaked, since then until mid 2010 the price dis-inflated severely (lost around 65% at the time from the $1320’s to a very better $480’s the contract. But as the recovery geared traction from 2010 it reduced the lost of price more than half when made at end of 2012...
Looking at JO the recent strength in looks super bullish. Eventhough im proposing the alternate idea of a double top, I still think the bullish trend is intact. However, i can't help but to think about the downside risk. I believe coffee needs to consolidate, either though price ( a sell off) or through time (sideways movement.) I don't feel comfortable going...