#LE_F $LE_F #LiveCattle - BULL SPREADBull spread LEJ19-LEM19 has quite nice potential. I did not catch entry around 6,0, but there is still chance to open position by correction.
LE1! trade ideas
Live Cattle Elliott Wave Idea Live Cattle futures appear to be coming to and end of a multi year correction phase.
If WXY completed at $94.6 then the motive phase may already have begun, however, if the $130 highs seen during 2017/18 were just X2 of WXYXZ then price may fall further; in WXYXZ Z must be equal or longer than X2 which suggests a double bottom at $94.6.
Some details on the waves:
Wave 1; appears to be a leading diagonal >
An ending diagonal for wave 5 of 5 (of 1) >
The big WXYXZ; made up of multiple 3 wave (ABC) structures >
Med term up, but feel we will have retrace before rocketMed term up, but feel we will have retrace before rocket
December Live Cattle UptrendLive Cattle is using the green curve support line as launching areas for more upside moves. Looking for a move to R2 and maybe R3. Bulls have been supporting this market for a while now and don't see any end in sight short term. Because of China trade issues, cattle is lower than what it should be by this time of year being bbq season. Right now I have a bearish Cypher. Market could rise beyond this to go for a double top. That would put it near R3. significant break of this green trend line and staying below might signify an end to this upward trend. RSI hasn't been breached yet and is showing the continued rise to top of RSI.
December Live CattleCattle met target and now is retreating. New pivots have been formed and cattle's next downside target is pivot at 111.875. Market has been sandwiched between the two trend lines. Expect continued sideways trading.
Live Cattle Futures LEV2018 D1Trading Signal
Short Position (EP) : 109.725
Stop Loss (SL) : 110.7
Take Profit (TP) : 106.095, 105
Description
LEV2018 formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (109.725) and place stop after 0.618 level (110.7). Once the position was hit, place take profit before an agreement (106.095) and 105
Money Management
Money in portfolio : $48486
Risk Management (1%) : $484.86
Position Sizing
$0.025 = +-$10 (Standard)
Commission fee = -$2.9/contract (Standard)
EP to SL = $1 = -$390/contract (STD)
Contract size to open = 1 standard contracts
EP to TP#1 = $3.6 = +$1452 (STD)
EP to TP#2 = $4.7 = +$1890 (STD)
Expected Result
Commission Fee = -$5.8
Loss = -$390
Gain#1 = +$1452
Gain#2 = +$1890
Total Gain = +$3342
Risk/Reward Ratio = 8.44
Short Cattle ! Wait for a break, hold and close on the Daily chart below mentioned support..before following through.
August Live CattleAugust live cattle moved higher Friday. Bear Bat predicted. Next upside target for the bulls is S2 at 108.100. Live cattle likes to double tops so we might see a run up to 115.575. With barbecue season here, this market should have a tendency to move higher, so how much of a decline we will see is unknown at this time.
semi-bullish on LE1!live cattle looks like it could run up to the top of the range again
short timeframes look like absolute mayhem to trade right now but could be worth a position opened here for a 4/1 RR
stop:100
take profit: 112-115 - - - 120-125
December Live Cattle Bearish CypherNew pivots for Live Cattle. Now projecting Bearish Cypher. Cattle was in a three drives pattern and the fall today may signal further downside to S2 at 106.475. Cattle made pivot today at 111.050. First target is uptrend line at 109.050. Cattle is under the 20 day MA.
Live Cattle Bearish CypherJune Live Cattle broke through the 20 day MA and stayed below yesterday. Fell further today. Target S1 at 99.475. However we have seen this play before and Cattle at the end of day fought back to post a hammer rejection. Outside target if this plays out is S2 at 96.950. Feeder Cattle index remained steady for a week at 137.5 and yesterday fell 1 point to 136.12. This should be good news for a fall.
LEM18, Thoughts On Live Cattle Futures...Just like last May/June 2017..............what happened? Yes, a lot of commodities are CYCLICAL in nature. The means they have a low and high period that happens every year, sometimes in the same months.........over...........and..........over.
December Live Cattle Breached 20 Day MALive Cattle moved above the 20 day MA yesterday and today showed more promise of an upside. Has moved across pivot and eyes R1 at 116.275. Bearish butterfly possible pattern. That will take us into next month. RSI should take us across R1 and possibly R2.
June Live Cattle bullish Butterfly / BatJune LIve cattle has created a bullish flag taking off from a quasi bullish Butterfly / Bat pattern. 20 Day MA is in reach. Until MA is breached and stays above this line, we can't call this a uptrend. S2 at 98.625 becomes resistance.
LIVE CATTLE AT LONG TERM SUPPORTNice long term trendline, almost looks to be forming either an ascending triangle or symmetrical.
Live Cattle Three MountainsLive Cattle potential Three Mountains bearish pattern. Cattle at the 20 day MA. Potential target break at pivot, then S1 at 115.900.
LIVE CATTLE futures . Long on retracementLive Cattle -0.04% prices tend to follow clear trends , as can be seen by the descending channel from 2015 to 2017 (almost 2 years)
Options expiration is February 28.
I will look for support on the current parallel or retracement to the lower parallel for a long entry. Stop below previous low and take profit at 25 centile. Depending on price action I may keep the trade open and move stop up to 25 centile.
Possible trades are outlined.
I would become bearish if price falls below the lower parallel
December Live CattleDecember Live Cattle maybe creating at Head and Shoulders / Bullish Butterfly. Neckline comes in at pivot 114.625. Break up above R2 would negate H&S. Minimal drop would be to S1. There is still a lot of RSI to make up so this may take a while of up and down.
Live Cattle Bull SharkApril Cattle is building out what appears to be a bearish flag today. Won't know until end of day if it does a full drop or doji. Bull Shark pattern is the next projection. There is very little upside on this month as R3 isn't far away, but it could still find some strength to tap out RSI.
