Feeder Cattle Holding On To 38.2% (346.00)

Feeder Cattle Holding On To 38.2% (346.00)

(GFQ26) 

There are two methods we use at ONE44 to find support and resistance in the markets.

The first are major Gann squares, these are the yellow horizontal lines on the chart.

The second is Fibonacci retracements.

Here are a few basic rules when using the Fibonacci retracements with the ONE44 rules and guidelines.

This is the short version.

A 38.2% level keeps the trend intact and new highs/lows should follow.

A 23.6% level shows the market is extremely strong, or weak.

A 61.8%  level can send the market 61.8% of where it just can from and cause wide swings keeping the market in a trading range.

A 78.6% level can send it 78.6% of where it just came from and even be the end or start of a Bull market.

We have done 45 videos on how to use the Fibonacci retracements with the ONE44 rules and guidelines. These Videos are worth watching even if it is not in the market you are trading, as the ONE44 rules and guidelines are the same for every market. You will also see why we believe the Fibonacci retracements are the underlying structure of ALL markets. HERE IS THE LATEST.

Feeder Cattle

August

From last week,

The rally this week above the 359.00 (23.6%) swing point failed to get to 78.6% at 373.60 and couldn't even get above the 366.25 major Gann square and is now trading below 359.00. We will again use this as the swing point for the week. All of the Above/Below targets remain the same.

Use 359.00 as the swing point for the week.

Below it, the short term target is the long term swing point at 346.00, this is 38.2% to the 11/25/25 low. The longer....

The trade below the 359.00 (23.6%) swing point for the week hit the short term target of 346.00. This 38.2% of the 11/25/25 low and contract high, holding this keeps the long term trend positive and a new high possible, it will be the key level for the week.

Use 346.00 as the swing point for the week.

Above it, the long term target is a new high per the ONE44 38.2% rule. The short term target is the 366.25 major Gann square, this is also 61.8% back to the high. The longer term target is 78.6% of the same move at 372.10. Any rally that can't get above 38.2% at 357.90 would be a negative sign and a new low can quickly follow especially after holding the long term swing point at 346.00.

Below it, the short term target the 334.11 major Gann square. The longer term target is 618.% back to the same low at 325.00. The long term target area is 78.6% back to the 11/25/25 low at 310.50 and the 306.87 major Gann square.

ONE44 Analytics where the analysis is concise and to the point

Our goal is to not only give you actionable information, but to help you understand why we think this is happening based on pure price analysis with Fibonacci retracements, that we believe are the underlying structure of all markets and Gann squares.

If you like this type of analysis and trade the Grain/Livestock futures you can become a Premium Member.

You can also follow us on YouTube for more examples of how to use the Fibonacci retracements with the ONE44 rules and guidelines.

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