TMV Swing Trade report – Short from 216.70 – Coffee traded through the 217.00 support, but appears to have found new support at 215.00. I was only looking for a short-term price swing in Coffee and I think it may have already given it to us. It time to exit the short position and post a small gain.
March Coffee - 30-minute chart - click to enlarge
TMV Swing Trade report – Short March Coffee from 223.10 – Coffee broke support and traded sharply lower into the downward sloping median line (basis the 60-minute chart). I look fro the market to bounce off the median line and offer a second selling opportunity. Therefore, I recommend covering the current short position at 219.25 or lower.
John Crane
MV Swing Trade report – Long March Coffee from 223.05 – Coffee broke out of the bullish reaction swing, I discussed in the last update, and surged to 229.30 where it ran into resistance at the upward sloping median line (basis the 60-minute chart). The median line can be used as a short-term target objective. I will wait for a pullback to offer a new reentry signal pattern. I will keep you updated in this blog or in the next issue of the TMV Swing Trade report.
John Crane
March Coffee - click to enlarge
TMV Swing Trade report – Long March Corn from $5.96 1/2 – Hit the Target! – Corn surged higher today and reached the target objective to close the long position at $6.35.
This trade recommendation is a good example of how a market can react after a swing pattern failure. If you are a regular reader of this blog or the TMV Swing Trade report, or if you have attended any of my live trading webinars, you have seen me talk about this signal pattern. Corn had posted three lower lows, with the third low pulling away from the downward sloping median line. This price action gave us all the information I needed to make the recommendation for a long position in the Corn.
It looks like I may have let a little on the table due the fact that Corn will most likely continue to trade higher and test the upward trending median line as it also approaches the next reversal date projected for December 28, 2011. For more information about the upcoming reversal date, check the next few issues of the TMV Swing Trade report.
John Crane
TMV Swing Trade report – February Gold – short from $1705.00 – current price @ $1664.00– Heavy overseas selling pushed the Gold through the $1705.00 trigger price to enter the short position. Looking at the 60-minute chart. Gold has reached the time and price target objective. (Target objective is where the reaction line intersects reversal bar.) This price action suggests Gold could be ready for a corrective rebound. I recommend covering the short Gold at this level and look to re-enter a short position after a rebound to the downward sloping median line. I will keep you updated on any new swing trading opportunities in the Gold.
John Crane
This daily chart of the September S&P offers great example of median lines in action and the benefits of understand price action. Dr. Alan Andrews stated that the market will move towards the latest median line. The median line acts as a target objective where the market should stall or reverse directions. Median line can be a very good swing trading tool on its own, but the addition of projected reversal dates can take you swing trading potential to whole new level.
This chart of the September S&P has two examples of significant reversals at median line. The first reversal occurred around the June 17 and June 23rd reversal dates. The S&P ended the downward trend, on the projected reversal date, and began a substantial rally after bouncing off the downward trending median line. Click here to read more and view the chart.
Join me for the live trading webinar December 1, 2011. The webinar is free to members of Traders Network. Click here to register. http://www.tradersnetwork.com/resources/education/webinars/
Good Trading!
John Crane
TMV Swing Trade report – Short from $6.10 – last price @ $5.84 -
Wheat traded within 3 cents of the projected target price before rebounding. The intra-day chart is now showing a possible bullish spike. Since I want to be out of this short position before the close, I look at this a good place to exit and bank the gains.
John Crane
