But they do offer an opportunity....
We see the Cypher pattern (highlighted in blue) that recently completed and that Live Cattle is in consolidation, basically banging around inside a channel locked between 141s and 118s.
We have a bullish bat pattern (hot pink) that completes right at the 118 even handle structure level. I'm looking to buy up two contracts...
April Live Cattle triggered a short for me after the gap down in the 134 area.
I like the way it's behaving. In the last couple sessions, it has broken down below the short- term uptrend line after a clean touch on the longer- term downtrend line.
It's quite a clean up/down scheme we have here in live cattle price. The price is still above the cloud so we should not enter a trade now but a twist is incoming and it could attract the price to a lower area. Current Kijun was broken and price, in case of a twist breakout, would reach the first support area at 127.3 with a high probability. This key level will...
HA candles to make the PA clearer.
PA is in clean downward pitchfork and is nicely oscillating between the upper and lower areas. PA is about to cross the Ichi cloud which could be the start of a short trade. However the lagging span still has some layers to go through before being free. This could occur within the blue ellipse area.
Note the lower support...
Traders
Probable continuation short here to the lows of the range. Nice shooting star doji type candle with engulfing signal. Quite bearish. Price resisted off ratio confluence and 50MA. Should be a nice trade guys.
Best of luck
Tom
Note: I offer face to face, and online personalised tuition to people who wish to become professional traders. For more details of...
My view is that cattle market is in range bound mode,
whitch is good to trade with support and resistance
The problem is that ATR is aggressive to set proper stoploss
Live Cattle (LC) has topped and is reversing. Typically we see seasonal highs in late April / early May (5 years and 25 years patterns). Price pattern is also supportive. 50MA crossed on 17April2014. Targeting 130.450 by the end of April2014.
Live Cattle (LC) has topped and is reversing. Typically we see seasonal highs in late April / early May (5 years and 25 years patterns). Price pattern is also supportive. Downward movement should be quite fast, between the 1/4 and 1/2 bear Ganns.
Live cattle is coiling and seems ready to break out to the upside. Lower trendline is giving support. I'm entering in advance here targeting 137.000.
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Live cattle is at historical highs. 134.0-134.5 is giving good resistance. Price is poised to move towards the 2/1 Gann line. First target objective 130.75 but a long term downtrend is in the cards.
Bullish seasonal projection supported by chart pattern. A clear bull flag has formed during the last 5days. Breakout to the upside would confirm the buy signal with a target objective at the intersection point of the 1/2 and 2/1 Gann lines (approx 126.000)
