Comments on: Swing Trade Ideas 10-28-22

By: private

private — Mon, 31 Oct 2022 15:09:23 +0000

It looks like a sell signal on lean hogs and live cattle futures. Cotton is going lower.

By: private

private — Mon, 31 Oct 2022 13:02:31 +0000

In reply to rsotc. I took the trade off the break of the trendline but scaled out of the half of my position as the moving averages are stacked in a bearish fashion.

By: rsotc

rsotc — Sun, 30 Oct 2022 23:16:55 +0000

In reply to private. Wheat should explode off that primary uptrend line & off that divergent low on the 60-min due to the news over the weekend (I posted link to article in another comment under this post). Never fails to amaze me how often the headlines mesh with the technicals.

By: rsotc

rsotc — Sun, 30 Oct 2022 23:14:36 +0000

In reply to private.

Depends on your time frame & more so, your price target(s). If you took gold on Friday for a quick trade, that could be tough as gold (and the US Dollar, which it typically trades inversely to) will likely be volatility leading up to & immediately after Wed’s big FOMC rate decision. Longer-term, I’d consider a stop not too much below the recent lows, just enough to allow for a stop-raid/false breakout.

Here’s my 60min chart. /GC gold bounced off the 1641 support but could be forming a potential bear flag continuation pattern while a solid break above 1650 would be near-term bullish. G-luck.

By: rsotc

rsotc — Sun, 30 Oct 2022 23:07:45 +0000

Should be good for our wheat long position, bad for the rest of the world: https://www.wsj.com/articles/blasts-hit-crimean-port-where-russian-fleet-is-based-11667048899?mod=djemalertNEWS

By: private

private — Sat, 29 Oct 2022 09:42:12 +0000

On wheat — and I am referring to /ZW, not /KE KC-wheat — momentum is still negative. 4-hour charts show a completed sequence to the downside. Trailing stop is at 819 with a close at 832ish. Candles on 4-hour charts still do not show a bottom.

By: private

private — Sat, 29 Oct 2022 09:36:43 +0000

In reply to private. Movement to 1625 is next, IMO.

By: private

private — Sat, 29 Oct 2022 09:26:24 +0000

Randy, how wide a stop on /GC should be if buying Friday’s close? Several momentum indicators on my chart show an overbought condition on 4-hour and daily charts implying that a move lower will continue and a double bottom may not hold. There is no such thing as a triple bottom.

The positioning of moving averages suggests the same. The Bollinger bands are not contracting, and a squeeze fired on 4-hour charts to the downside with only 2 bars in.