Based on seasonality and current price, the downside direction is more probable. Depending on how strong will be tomorrow's move, I will decide one of the two ways to trade it.
a] Direct bounce off resistance 4.065 with stop-loss nearing 4.165, which is resistance plus average true range. For this, I want to see overlapping candles decreasing in size (volume considered) as we approach the resistance.
b] The second option is to wait until the resistance is broken and stand by until we return to it. I will use this if the further breach is imminent.
Either way, I don't think corn can rally now when the trade war is getting hotter and seasonality says "No!" I will be looking to sell when the price gets to the extended Keltner Channels areas. Could be around 3.7
a] Direct bounce off resistance 4.065 with stop-loss nearing 4.165, which is resistance plus average true range. For this, I want to see overlapping candles decreasing in size (volume considered) as we approach the resistance.
b] The second option is to wait until the resistance is broken and stand by until we return to it. I will use this if the further breach is imminent.
Either way, I don't think corn can rally now when the trade war is getting hotter and seasonality says "No!" I will be looking to sell when the price gets to the extended Keltner Channels areas. Could be around 3.7
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.
Penafian
Maklumat dan penerbitan adalah tidak dimaksudkan untuk menjadi, dan tidak membentuk, nasihat untuk kewangan, pelaburan, perdagangan dan jenis-jenis lain atau cadangan yang dibekalkan atau disahkan oleh TradingView. Baca dengan lebih lanjut di Terma Penggunaan.