Most of my posts are about swing trading strategies using daily charts. Therefore, I am often asked if the “action-reaction” method can also be used when daytrading. Yes, it can. This 3-minute chart, of the June Eurocurrency, offers a great example of “action-reaction” at work intra-day. Between 7:48 a.m. and 7:54 a.m. (MST) on the… read more
Tag Archives: Futures
Futures Broker / Grain News and Calls
WHEAT – Up 5 to 7 cents per bushel. Short-covering, a weak dollar and rebound in equities markets lending support to wheat futures. CORN – Up 3 to 5 cents per bushel. Support from news China may import more U.S. corn, a weak dollar, higher crude oil and a rebound in equities markets. SOYBEANS –… read more
Swing Trading Strategy – Price action suggests Coffee may have bottomed and ready to rally. [chart]
July Coffee traded to a low of 130.60 before reversing and rebounding sharply off the lower parallel line. This price action suggests the market may be in a trend shift and ready to rally off the recent pivot low. Coffee rallied over 100 points off the low, leaving good separation for the low. This is an… read more
Futures Broker / Grain News and Calls
WHEAT – Down 3 to 5 cents per bushel. * Strong dollar and falling equities weigh on wheat futures in addition to continued pressure from an abundant stockpile of wheat. CORN – Down 5 to 7 cents per bushel. * Good crop seeding and growing weather in the U.S., a strong dollar and falling crude… read more
Swing trade strategy – Euro rally stalled at median line. What’s next for the euro? [chart]
The June eurocurrency bottomed at 1.2163, a confluence of support where the down-sloping line parallel line intersected with the up-sloping reaction line. The market reversed on the May 18 reversal date and rallied over 450 points in the following three sessions. The three-day rally stalled at 1.2674, when it tested the newly established up-sloping median line on Friday, May 21, 2010 and… read more
Futures Broker / Grain News and Calls
WHEAT – Down 1 to 2 cents per bushel. Pressure from firm dollar, weak equities and plentiful supply of wheat but underpinned by hot weather in northern Europe that may have harmed some of the wheat crop there. CORN – Down 1 to 2 cents per bushel. Firm dollar, lower equities and warmer and drier… read more
Futures Broker / Grain News and Calls
WHEAT – Down 2 to 3 cents per bushel. Pressure from firm dollar and falling equities as market continues to deal with uncertainty about the eurozone economy. Also pressure from a turn to warmer U.S. crop weather which will help boost production prospects. CORN – Down 1 to 2 cents per bushel. Pressure from a… read more
Swing trading signals – How will the Soybeans react after reaching target objective on predicted reversal swing date? [chart]
Twenty days after posting a high near the April 21st reversal date, July Soybeans reached the up-sloping reaction target line. The daily low of $9.31 tested the reaction line before finding support and rebounding to unchanged. This completes the five-wave cycle as the Soybeans reach the target objective–projected two weeks in advance–on the projected reversal date. While the… read more
Swing trading strategies – What does “action-reaction” tell us about the next move in the Eurocurrency? [chart]
The June Eurocurrency posted pivot highs of the April 15 and May 3rd reversal swing dates. Both dates marked the end of the corrective bounce and triggered a bearish reversal, followed by a lower market. The euro also posted a 570 point rally, during the two session following the May 6th reversal date. Since then,… read more
Futures Broker / Grain News and Calls
WHEAT – Down 1 to 2 cents per bushel. * Pressure from firm dollar and falling equities amid mounting concern about the euro zone financial crisis. Plentiful supply of wheat also weighs. * Neutral reaction to USDA’s weekly export sales report. CORN – Down 1 to 2 cents per bushel. * Pressure from a turn… read more