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HOGS- Bottom before new highs? Wheat


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I posted a level a while back I call an Olive Line Sell at 65.16 a while back. The December Hog contract tested this about 5 attempts before a one day 300 point, blast over. 1st time ups are the best, multiple times gets dicey but rule is stop over to 68.00. The 1st hit did break 300 but that was all the market offered. Good one day idea but not great but here is where it gets pattern recognition good in my book. Hogs broke 11 days just like back in June when I posted a Soybean buy at $9.07 over the summer, only to see a 1.40 rally or 15 percent move off my olive line buy. These are the types of moves I look for in trading. Low risk and high reward. I search Possible short fast vertical moves that pay decent. Hogs broke 12.8%. Sound familiar? These moves should become bigger going forward in my opinion. Check last sell at 65.16 before fall at high of that day. Im the levels guy you may want to have a continued conversation with.

So Dec hogs got over my Olive Line Sell but what I suggested was what we can and do come back to this green line at the chart and on the 11th day at 65.26 close to yesterdays low. This was a .45 cent risk support level and idea is leave your stop in. Both hogs and beans have similar spike down before an upcoming report so it is like a call option into the report with a lead which is most important to me. Back or deferred month contracts are a totally different story. My work is price action conditions that appear on the charts, see the blue diamonds.

I can put these types of trade ideas in front of you ahead of time. You either take it, or take a pass. Please look for a recording of my live webinar yesterday but here are my live comment links from yesterday AM (11/15/17). Sign up for my newsletter and see if you like the feel of these type strategies suggested, specific levels. I like wheat long term. I think Managers are buying hand over fist for long term.

Corn seems to be last small vertical down into buy levels below. Feel free to give me a call. Lumber alert is live, coffee is warm and can turn hot anytime, funds loaded short Lumber, wheat and corn so brushfire and reversals can occur anytime. Rice 11.42 has been cited for weeks. He who bought last bought best as new stop searching lows, then up to 12 in days. Oats 278-280 was heavy. I like wheat and yesterdays low in May (11/15/2017), March and Dec smaller supports could be it. Sell bean/wheat futures spread? Need an idea about the technical? I gave up fundamentals in mid 80s. Let me tell you why.

Corn wheat live cattle live comments at the possible long term lows in a few.

Weds am comment Nov 15 Grains and Meats presented at time.

http://www.byoaudio.com/play/WsRQQr1Q

Tues pm Nov 14 http://www.byoaudio.com/play/WVT71yRQ

I try to put simple clean bets with good payouts if not stopped out with tight risk.

Trade setups- rule if looking to buy hogs was a few,

2 blue diamonds, is 11 lower highs.

And over OLS sometimes it pulls back to green,

Pretty low risk in this case but I see this all over.

Let me know if you want to chat.

Please join me for next webinar on the macro olive technical analysis. Sign Up Now

If your ready link provided to get started with a 2nd account.

https://portal.straitsfinancial.com/user/register.aspx?brokerid=268

Specializing in providing timely technical advice to the AG business community. Contact me for a free outlook in your specific product.

arp@WalshTrading.com

312.957.8248

Alan R. Palmer

Sr. Strategist

Toll Free: 1 888 391 7894

Direct: 1 312 957 8248

Fax: 1 312 256 0109

arp@walshtrading.com

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About the author


Alan R. Palmer, Sr., is a successful independent trader and technical analyst specializing in agricultural, financial and stock index futures. He has worked primarily in the markets traded on the CME Group.

Alan started trading at the Chicago Board of Trade in 1986 in the 30-year U.S. Treasury bond pit as a local. In 1987, he bought his full membership the day of the historic crash and moved back to his passion, trading soybeans, and grains along with bonds and stocks. Moving from pit to pit as market indicators dictated, Alan used his charting calculations to spot pivotal points as markets crossed ‘key levels.’ This acumen is Alan’s specialty and now he delivers this knowledge and experience to his customer base. He offers a macro thought process to viewing markets and players as they act with predictive behavior acumen.

He began his career in the futures industry as a summer runner while thirteen on the floor of the CBOT in 1973 delivering orders and learning the rudimentary workings of the markets. He graduated from runner to phone clerk, delivery clerk during the Hunt silver squeeze, working for various brokerage firms. After earning a Bachelor’s degree from DePaul University while working full time, he began a career as a proprietary trader with Paul Tudor Jones, a world-renown money manager, where he perfected his technical analytical techniques.

Alan has appeared on CNBC, Bloomberg, CNN, and has been quoted in The Wall Street Journal, Chicago Tribune, Chicago Sun-Times, Bloomberg and Reuters newswires. He was the founder of Nasdog.com, an independent research and charting web enterprise, based on time-tested, support and resistance calculations for predicting multi-market swings. Alan holds an undergraduate degree in Business Finance Administration from DePaul University in Chicago.

Contact Alan:
Phone: 312.957.8248 or 888.391.7894
Email: arp@walshtrading.com

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