July Corn Not Quite Cooked - Post Exit Update 1

The charts above are both 4 hour July Corn Futures charts. The lower one zooms in to better see today's candle.

I sent a Tweet out 9:27am ET this morning regarding a possible re-entry into this short trade. This is the 3rd post in this thread. At the very end of the corn market trading day, you can see a Bearish Engulfing pattern, and a close slightly below the 8ema. These are bearish indications.

However, we closed above the Trend Line and stochastics are mid range. Plus it looks possible today's price action was just to fill in the opening gap, and not a resumption of the downward trend.

Bottom line, at 14:19:15, 45 seconds before the market close, we re-entered this trade to the short side. We had to adjust the Stop to be over new swing high at 669 1/2.

The renewed YC trade:

Entry 658 3/4

Stop 670

Target 627