Welcome to the TFC Commodity Trading Forum.
Please feel welcome to join in on these informative ongoing discussions about trading futures and commodities.

The Trading Forum is intended for the open discussion of commodities trading. The management of this Forum does not agree or disagree with the ideas exchanged, and does not exert editorial control over the message posted herein. Read and post at your own risk. The risk of loss in trading or commodities can be substantial. We discourage the use of this Forum to promote trading that is acknowledged to be risky. Please note: many links from the Forum lead to pages on other web sites. We cannot take responsibility for nor endorse the information presented on those sites.

TFC Commodity Trading Forum

Re: corn *PIC*
In Response To: Re: corn ()

Thank you Simon! ----- You know what they say: Confident people are the ones capable of giving complements! :)

In the 4hrs chart below, I superimposed Fibonacci retrace levels over my S/Rs. As you can see, 628 S/R or 23% retrace is strong support. Notice the red dash diagonal support trend line coming up in few hours right at 23% or 628 level, usually the price react to this type of crossings and either continues the up-trend or falls true the crossing. - Momentum is still over the 0% line, but the stochastic is on "sell mode" If the stoch was to turn into a "buy mode" in the "overbought" area, it will be bullish, meaning, people don't care what the price is, they want it and they want it now!!! I will be buying when my set-up shows up.

I like to see the price printing over 644 in the night session, then 644 will become a support with small targets above as the price zigzags on its way up.

Will see what happens overnight and tomorrow. As always, in due time the market will show us the real deal.

g

“Nothing happens by chance, my friend... No such thing as luck. A meaning behind every little thing, and such a meaning behind this. Part for you, part for me, may not see it all real clear right now, but we will, before long.” - Anon