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Re: May Corn/Plunges Again/At Next Support/Trades

Hi Trades,

Thanks !!
I simply reacted to this ...
"with much support still at 608" and did not consider the fib re-tracement at that level also. So, likely there is "more" support here than at the other
S/R levels.

On Challenger post:
Corn happened to close/re-open at price 618 tonight. So I would be pretty sure his 1/2 of 618 = 309 is suggesting price may go down by half to 309. If so, that will be a good trip to try to hang in for !!! Not going to make many farmers very happy though !!!

On trade entry, the "conservative" approach would be (Wayne method) on a test of 640 and close below after, short first opportunity with stop above.

On the 608 level, wait for a break and close below. Short first opportunity with stop above.

Getting tired here. Wanted to get RSI into this ????
Tomorrow !!!!

Thanks, Lee

Messages In This Thread

Re: May Corn/Plunges Again/At Next Support/Trades