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LE1! trade ideas

Live Cattle Futures ( LE1! ), H4 Potential for Bearish TrendTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bearish Trend Type : Bullish rise Resistance : 147.900 Pivot: 144.275 Support : 141.100 Preferred Case: On the H4, with price moving in the descending trend and breaking the ichimoku indicator, we have a bearish bias that price may drop from the pivot at 144.275 where the previous swing high sits to the 1st support at 141.100 where the 38.2% retracement sits Alternative scenario: Alternatively, price could break pivot structure and rise to the 1st resistance at 147.900 where the swing high and 127.2% extension sits Fundamentals: No Major News
CME:LE1!Short
by Genesiv
Live Cattle Futures ( LE1! ), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 146.750 Pivot: 142.650 Support : 139.175 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 142.650 where the 23.6% retracement sits to the 1st resistance at 146.750 where the previous swing high sits. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 139.175 where the overlap support is. Fundamentals: No Major News
CME:LE1!Long
by Genesiv
Live Cattle Futures ( LE1! ), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 147.900 Pivot: 144.275 Support : 141.100 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the overlap support is. Fundamentals: No Major News
CME:LE1!
by Tickmill
Live Cattle Futures ( LE1! ), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 147.900 Pivot: 144.275 Support : 141.100 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the overlap support is. Fundamentals: No Major News
CME:LE1!Long
by Genesiv
What would you have on a date night? Chicken or steak? We’re going to go out on a limb here and say your date night budgets and recessionary risk are likely inversely correlated! As recessionary risk starts to weigh on investors’ minds, purse strings for date nights are likely to be tightened, which spells trouble for the date night classic, wine & steak pair. Cattle Futures have joined the broad market selloff over the past few days as investors remain on edge. This recent move lower has confirmed a break below the neckline support for a double top pattern observed on a shorter timeframe, which is noted as a bearish reversal pattern. On a longer timeframe, the decline has also broken the 4-month long uptrend for Live Cattle. With not much in the way of support, it’s quite possible to see another leg lower, similar to the pattern we observed in May 2022 where prices corrected around 4.5% once the uptrend was broken. Using this as a reference, the 143 range marks the next potential stop for live cattle prices if we were to extrapolate a 4.5% decline from the breakout point. The broken uptrend followed by the confirmation of the double top pattern spells trouble for live cattle prices. As such, we lean bearish on live cattle futures and will likely swap the date night steak for perhaps chicken… Entry at 148.550, stop at 150.325. Target at 144.850 and 143.075. The charts above were generated using CME’s Real-Time data available on TradingView. Inspirante Trading Solutions is subscribed to both TradingView Premium and CME Real-time Market Data which allows us to identify trading set-ups in real-time and express our market opinions. If you have futures in your trading portfolio, you can check out on CME Group data plans available that suit your trading needs www.tradingview.com Disclaimer: The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios.
CME:LEZ2022Short
by inspirante
8
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 147.900 Pivot: 144.275 Support : 141.100 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the overlap support is. Fundamentals: No Major News
CME:LE1!
by Tickmill
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 147.900 Pivot: 144.275 Support : 141.100 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the overlap support is. Fundamentals: No Major News
CME:LE1!Long
by Genesiv
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 147.900 Pivot: 144.275 Support : 141.100 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the overlap support is. Fundamentals: No Major News
CME:LE1!
by Tickmill
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 147.900 Pivot: 144.275 Support : 141.100 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.275 to the 1st resistance at 147.900 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.100 where the overlap support is. Fundamentals: No Major News
CME:LE1!Long
by Genesiv
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.150 where the overlap support is. Fundamentals: No Major News
CME:LE1!
by Tickmill
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.150 where the overlap support is. Fundamentals: No Major News
CME:LE1!
by Tickmill
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.150 where the overlap support is. Fundamentals: No Major News
CME:LE1!Long
by Genesiv
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.150 where the overlap support is. Fundamentals: No Major News
CME:LE1!
by Tickmill
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.150 where the overlap support is. Fundamentals: No Major News
CME:LE1!Long
by Genesiv
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures ( LE1! ), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.150 where the overlap support is. Fundamentals: No Major News
CME:LE1!
by Tickmill
Live Cattle Futures (LE1!), H4 Potential for Bullish RiseTitle: Live Cattle Futures (LE1!), H4 Potential for Bullish Rise Type : Bullish rise Resistance : 148.125 Pivot: 144.475 Support : 141.150 Preferred Case: On the H4, with price moving along the ascending trendline and above the ichimoku indicator, we have a bullish bias that price will rise from the pivot at 144.475 to the 1st resistance at 148.125 where the 127.2% fibonacci extension is. Alternative scenario: Alternatively, price could break pivot structure and drop to the 1st support at 141.150 where the overlap support is. Fundamentals: No Major News
CME:LE1!Long
by Genesiv
Where are commodities heading to? Beyond 2022Where are the meat or commodity prices heading? Meat prices have been rising at a rate of about 3% per annual over the last 40 years. Meat is what I classified as an edible commodity, so is corn, wheat and rice. And as these commodities start picking up in prices, they are the one that will give the central banks a huge headache and to consider to hike its interest rates than the other commodities in the CPI basket. Why is this so? In short, people can still live with some inconvenience without cars or petrol, but not without food. Therefore, there is an urgency for the policy makers to first take care of the basic needs of the people. Content: . Long-term direction of Live Cattle . Trading ideas . Investing ideas Disclaimer: • What presented here is not a recommendation, please consult your licensed broker. • Our mission is to create lateral thinking skills for every investor and trader, knowing when to take a calculated risk with market uncertainty and a bolder risk when opportunity arises. A little hack here to project the coming CPI data and also to know how aggressive the Fed will be with interest rate hike - you may consider to track the development of these edible commodity prices, if it is still trending up, we should be expecting a higher CPI and interest rates. Example on Live Cattle Futures: 0.025cts = US$10 0.10cts = US$40 145.00 = 1450 x US$40 = US$58,000 From 144 to 145 = US$400
CME:LE1!
by konhow
9
Live Cattle are on the MOOOOVEWatch us on RFD-TV, today at 9:45 AM CT! Cattle Summary Daily Cutout Values Choice: 257.26, Down .75 from the previous day. Select: 234.73, Down 1.31 from the previous day. Choice/Select Spread: 22.53 5 Area Average Cattle Price Live Steer: 142.17 Live Heifer: 141.54 Dressed Steer: 226.63 Dressed Heifer: 227.19 Daily Slaughter Estimated at 127,000. 4,000 more than last week and 7,000 more than the same week last year. Feeder Cattle Index 9/08/2022: 181.24 9/072022: 180.31 Technical Snapshot Live Cattle October live cattle futures staged an impressive rally on Friday, trading back near the top end of the August range. Resistance remains intact, we see that as 145.975-146.25. A breakout and close above this pocket could spur another leg higher, with the next and last meaningful resistance pocket coming in from 147.35-147.50. This pocket represents the contract highs from April. We remain skeptical of a bigger directional move, but it appears outside markets are taking on the " risk-on" attitude which could be supportive to cattle. Resistance: 145.975-146.25***, 147.35-147.50** Pivot: 143.25-143.775 Support: 141.75-142.10****, 138.025-138.35**** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CME:LE1!
by OliverSloup_BlueLine
Live Cattle Drift LowerCattle Summary Daily Cutout Values Choice: 258.34, Down 1.45 from the previous day. Select: 237.74, Down 1.94 from the previous day. Choice/Select Spread: 20.60 5 Area Average Cattle Price Live Steer: 144.85 Live Heifer:145.00 Dressed Steer: 229.85 Dressed Heifer: 229.80 Daily Slaughter Estimated at 125,000 head, 1,000 more than last week and 6,000more than the same week last year. Feeder Cattle Index 8/30/2022: 183.04 8/29/2022: 183.00 Technical Snapshot Live Cattle October live cattle broke lower yesterday, taking out the previous day's low, making its way closer to the cluster of major moving averages, which we've listed as near-term downside target for some time now. If the market is unable to defend this support pocket, it's possible that we see the selling accelerate. We are keeping a very close eye on outside markets as they remain volatile and seemingly uneasy. Resistance: 145.10-145.975***, 147.35-147.50** Pivot: 143.25-143.775 Support: 141.75-142.10****, 138.025-138.35**** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CME:LE1!
by OliverSloup_BlueLine
Live Cattle Shrug Off Outside Market WeaknessCattle Summary Daily Cutout Values Choice: 259.79, Down 3.25 from the previous day. Select: 239.68, Down 3.07 from the previous day. Choice/Select Spread: 20.11 5 Area Average Cattle Price Live Steer: 144.00 Live Heifer: N/A Dressed Steer: N/A Dressed Heifer: N/A Daily Slaughter Estimated at 126,000. Unchanged from last week and 6,000 more than the same week last year. Feeder Cattle Index 8/29/2022: 183.00 8/26/2022: 183.16 Technical Snapshot Live Cattle October live cattle futures were able to break the 4-day streak of lower prices, on a day when the outside markets saw meaningful pressure. If you're bullish the market, this is your silver lining. The market finished the session right near the upper end of our pivot pocket, 143.25-143.775. If the Bulls can keep yesterday's momentum alive, perhaps we see a retest of 145.10-145.975. We are in the camp that the cash market may stall out, which could limit the upside. We are monitoring outside markets and commodities as a whole, if they continue to trend lower, it will be an uphill climb for live cattle. We are still in the camp that the three major moving averages could be tested in the near term. Resistance: 145.10-145.975***, 147.35-147.50** Pivot: 143.25-143.775 Support: 141.75-142.10****, 138.025-138.35**** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CME:LE1!
by OliverSloup_BlueLine
Cattle Futures Finished Lower Yesterday. More of the Same TodayCattle Summary Daily Cutout Values Choice: 264.46, Up 1.09 from the previous day. Select: 239.72, Up .13 from the previous day. Choice/Select Spread: 24.74 5 Area Average Cattle Price Live Steer: 144.39 Live Heifer: 143.70 Dressed Steer: 229.93 Dressed Heifer: 229.86 Daily Slaughter Estimated at 124,000. 5,000 more than last week and 6,000 more than the same week last year. Feeder Cattle Index 8/12/2022: 179.04 8/11/2022: 178.28 Technical Snapshot Live Cattle October live cattle held well early in the session but gave up ground as the day continued. The Pullback brought prices back into our pivot pocket from 142.75-143.75. In yesterday’s report we noted that “The Bulls have the technical advantage until we see a breakdown back below this pocket.”. A failure to defend this level in today’s session could lead to a retest of trendline support and three major moving averages. All of these indicators come in from 141.35-141.90. With so many indicators converging in one pocket, we are labeling this as a MUST HOLD level. Resistance: 145.10-145.975****, 147.35-147.50** Pivot: 142.75-143.75 Support: 141.35-141.90****, 138.025-138.35**** Futures trading involves substantial risk of loss and may not be suitable for all investors. Trading advice is based on information taken from trade and statistical services and other sources Blue Line Futures, LLC believes are reliable. We do not guarantee that such information is accurate or complete and it should not be relied upon as such. Trading advice reflects our good faith judgment at a specific time and is subject to change without notice. There is no guarantee that the advice we give will result in profitable trades. All trading decisions will be made by the account holder. Past performance is not necessarily indicative of future results.
CME:LE1!
by OliverSloup_BlueLine
Cash Cattle Firms. Is There More Upside Left? Daily Cutout Values Choice: 263.37, UP .27 from the previous day. Select: 239.59 Up 2.13 from the previous day. Choice/Select Spread: 23.78 5 Area Average Cattle Price Live Steer: 144.3 Live Heifer: 143.69 Dressed Steer: 229.95 Dressed Heifer: 229.88 Daily Slaughter Estimated at 118,000. 3,000 more than last week and 2,000 more than the same week last year. Feeder Cattle Index 8/11/2022: 178.28 8/10/2022: 178.06 Commitments of Traders Update Live Cattle Friday’s Commitments of Traders report showed that Managed Money were net buyers of 11,067 futures/options contracts through August 9th. This expands their net long position to 49,072 contracts. Feeder Cattle Friday’s Commitments of Traders report showed that Managed Money were net buyers of 668 futures/options contracts through August 9th. This puts them net long 479 contracts. Technical Snapshot Live Cattle October live cattle gave back some ground on Friday, but all in all it was a constructive week with the market posting higher lows and higher highs. The market managed to work itself back into the gap from April 25th but was unable to fill that gap completely. The topside of the gap comes in at 145.975. Outside markets are under pressure this morning on the back of bearish news from China. This may put a headwind in prices to start the new week of trade. Previous resistance will act as our pivot pocket that comes in from 142.75-143.75. The Bulls have the technical advantage until we see a breakdown back below this pocket. Resistance: 145.10-145.975****, 147.35-147.50** Pivot: 142.75-143.75 Support: 141.425-141.90***, 138.025-138.35****
CME:LE1!
by OliverSloup_BlueLine