This report was sent to subscribers on 8/4/10 4:50 p.m. Chicago time to be used for trading on 8/5/10. Everything is done by Howard Tyllas, no program or black box.
October Cattle (elec.)
After the close recap on 8/5/10: My resistance was 96.90, .10 from the actual high, and my pivot acted as support and was 95.75, .10 from the actual low
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96.90 XX Resistance |
------------95.75 Pivot |
94.60 Support |
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Trend 91.42 is the 200 day MA |
5 day chart....... Up (last week same day) |
Daily chart ...... Up |
Weekly chart .......Up ATR 1.07 |
Monthly chart.... Sideways Ex. Overbought 95% |
Top channel line acts as support again, while 97.50 resists at the uptrend line.
Notice how the downtrend line acted as perfect resistance on Thursday. This is another example of how the top channel uptrend line acts as resistance, while the bottom line acts as support. When the market was above the top line, it then acted as support.
In my daily numbers on Wednesday; my resistance was .15 from the actual high, my pivot acted as support and was .12 from the actual low.
Notice how I use the open outcry chart to locate gaps, but I do my numbers for the electronic market as always. Open outcry is where I find the major players doing business.
October Cattle (elec.) for 8/5/10:
Cattle: Spot on numbers. Idea to trade the numbers worked well because the numbers were spot on. Now we are nearing resistance levels so I am shy to take the buy signal. I want to take the sell signal and continue to risk only .35 on the trade idea.
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Howard Tyllas
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Disclaimer: No guarantee of any kind is implied or possible where projections of future conditions are attempted. Futures trading involve risk. In no event should the content of this be construed as an express or implied promise, guarantee or implication by or from Howard Tyllas, that you will profit or that losses can or will be limited in any manner whatsoever. No such promises, guarantees or implications are given. Past results are no indication of future performance.
