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…eadline above. Today’s Top 3 Trades includes technical analysis on: Softs (Cotton | Arabica Coffee) + Today’s Top Trade (EURUSD) Join the world’s largest asset manager and 2 of the world’s 5 largest (and 5 of the 10 largest) hedge funds by AUM as daily readers of Tradable Patterns’ technical analysis. As seen on Bloomberg, Refinitiv, FACTSET and Interactive Brokers, readers regularly include global top 10 investment banks. If you represent an inst…
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly CT saw a bit of hestitation yesterday after Wednesday’s minor bounce, giving up most of the prior day’s gains. The pullback has been shortlived though, as at the time of this writing (early in the Asian session), CT is moving up again and continues exhibiting bottoming characteristics on its weekly RSI, Stochastics and daily RSI, Stochastics and MACD. Although the late September low was below the late…
…ecent gains, the MACD of the same timeframe remains clearly in rally mode. Cotton (ICE CT Mar15) Weekly/Daily/4hr/Hourly CT’s pullback last week has been noticeably less severe than the ones in November and September, leaving CT with a higher low versus the low in November and increasingly positioning CT for a meaningful bottom. CT’s RSI, Stochastics and MACD across the weekly, daily and 4hr charts appear mostly bottomish, with the exception of th…
…ease Register/Login to view the complete edition of Today’s Top 10 Trades. Cotton (ICE CT Mar15) Weekly/Daily/4hr/Hourly CT made a strong break yesterday above the .61 horizontal resistance level (seen in the daily chart), and decisively broke above the descending wedge resistance (seen in the weekly chart). CT is now consolidating at the .62 level coinciding with the downchannel resistance (seen in the daily chart), and just above the upchannel r…
Cotton (ICE CT Dec14) Weekly/Daily/4hr/Hourly After yesterday’s late session rally, CT appears like it’s just about finished consolidating, and ready to form a higher low (as seen in the daily chart). On the 4hr chart, CT’s approaching downchannel resistance, but given the rising (or about to be rising) RSI, Stochastics and MACD across the weekly, daily and 4hr charts, CT offers an excellent risk:reward setup for new longs as of the time of this…
Cotton (ICE CT Dec14) was a standout performer yesterday tacking on more than 2% in gains, and continues its rally at the time of this writing. The weekly MACD green line is flat now, and the daily RSI, Stochastics and MACD all clearly pointing higher. Unfortunately, I exited my longs yesterday far too early around .643 for a small profit as I was out most of yesterday’s European session. I initially was hoping to enter a long yesterday on the fi…
Cotton (ICE CT Dec14) looks fairly uniformly aligned on its weekly, daily, 4hr and hourly Stochastics and MACD now. I am long 3 lots at an average of .6396, and have a sell limit on 1 lot at .645. Corn (CME ZC Dec14) sold off yesterday on profittaking and currently sits within the 365-370 range I set as my long target entry yesterday. I am now long 1 lot at 370, and have a buy limit resting at 367. The daily and 4hr Stochastics are still pointing…
…ng over, so you will want to avoid trading any more of the Sep14 contract. Cotton (ICE CT Dec14) pulled back nicely yesterday from its prior day’s bounce, providing improved long entry possibilities. I am currently long 2 lots at .6392, with a buy limit at .6315. The BUXL (Eurex GBX Sep14)’s weekly chart is looking very bearish now given the 3rd straight week forming a Doji. The daily Stochastics and MACD are also pointing down. I have sell limit…
…having traded in and out of them last week. I’m still holding two lots of Cotton (ICE CT Dec14) long from last week, and will wait for its rally which I expect this week to coincide roughly with the bounce expected in ZC, ZW and NG. The oversold rally I’m looking to play on NG will be shortlived likely petering out just ahead of Thursday’s inventory numbers. Given how bearish the weekly chart still appears, I will not likely be holding any long p…
