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TFC Commodity Trading Forum

Re: Dec Corn/Breakout!/TIMWAR *PIC*
In Response To: Re: Dec Corn/Breakout! ()

Well like all markets including Corn breakouts must hold and at least consolidate for awhile at or above the breakout point to be valid breakouts. Jumping the gun can be costly. Not holding above the breakout point is bearish but the pullback is not unlike many that breakout and then pullback like a slingshot and then blast off again. See after the breakout price dropped back to the downtrendline price cleared. That is still holding. It's a real sucker play to get long early on a breakout and then get stopped out on the pullback and then get short early just to see it blast off again. It's a nasty Whiplash when that occurs and happens often. Gotta see a close below Friday's close and below that downtrendline that price cleared to suggest it was a bearish false breakout that failed to hold. But I've said before Corn trades much like the Bio-tech Stocks which are erratic then track sideways to lower then blast off to the moon and then fail again. You can have the Grains as I don't like gambling so stick to more dependable markets. I don't need the "Rush" of it all. Been there/done that.