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I did not give you a day to think about the Live Cattle trade I suggested. The research I follow gives indicates this move usually occurs later in the month, but I think it has started a bit earlier. I think that cattle have topped for now.  The risk here should be easy to manage. Go short one February Live Cattle contract at $128.50. Place a stop GTC at $130.8 which is just above the swing high. Your risk will be .2.4 x 400 = $920. The target is the 38.2% retracement at $122.5. This would give a $2,400 profit on the trade.....a 2.5 to 1 return to risk ratio.
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This PageThe Speculation page is used for educational purposes and to talk about our opinion on trades and what is going on in the market. All trade recommendations are made in "The Pit". This is also a blog page where you can ask questions, post your thoughts, or ask for help. Be sure to use an anonymous name. If you have any questions feel free to reach out to us via email. Archives
January 2021
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