Corn prepares for a bullish move🤘

Long

Corn Futures (Sep 2023) (CBOT:ZCU2023)

Aggiornato

CBOT:ZCU2023 Corn Futures (Sep 2023)

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As described here - I'm planning to catch the breakout. Let's see if this plays out as I think. In any case - I wish you a good 2023 with lots of good trades. ;)

Trade attivo:

Limit buy order was been filled today. Looks like the MAs are giving sufficient support.

Trade chiuso: stop raggiunto:

Big red candle reached the SL and killed the trade. Okay, was a very speculative position. I'm expecting the price never the less to rise, but I'm waiting now for a break of the upper falling trend line before doing a re-entry in this instrument.

Trade attivo:

Re-Enty long. Because on the current contract the falling trend line seems to be confirmed now. On the Sep contract it could be a local double bottom. But I assume that the current contract overrules the future contract.

Trade attivo:

Tightly drifting above my SL level, but then came the bullish impulse. Looks good so far.

Trade chiuso: stop raggiunto:

2nd trade SL reached. Seems like the correction needs a bit longer. Next entry not before the next trendline breaks.

Commento:

Overall I'm still bullish in CORN. The current contract forms this beautiful bullish flag. If this persists until the WE I'm considering to open again another position in the SEP contract, because I think the current contract will lead the market and the later contracts will follow.

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