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TFC Commodity Trading Forum

Re: 7-10 sell Corn
In Response To: 7-10 sell Corn ()

What month are you looking at?

I am not seeing any variation of the *7-10* rules that would indicate a short position is advisable.

The market is at a key point right now. The monthly has a spear point, but is still above the 18 month moving average. We need to see it cross that to confirm a short.

The weekly chart looks pretty bearish, but is showing signs of wanting to correct. It's enough for me to want to sit on the side to watch.When I see what it's doing, then I will determine how I want to play it.

The daily chart is on the edge of making both a crossover of the 18 day MA, and a Bollinger Band squeeze (2 of my setups simultaneously), which will confirm a trade when it starts to expand again on the other side of the formation.

So going short is the last thing I would do. Wait to see if you can catch a long swing for the duration of the weekly's correction is more what I would be looking at.

I would only short after giving these set ups time to manifest and fail.