at the moment I'm at the mercy of the market to prove me right, wrong, or redline my anxiety meter. I made a pair of 50 cent deposits off my early fishing lines @ 82.30. I resold them at 82.20 with intentions of catching more weakness to my 81.20 projected target if my stops @ 82.70 don't get hit first. My thought process suggests that the bloodbath in cattle, if continued will drag hogs with them somewhat. Feb hogs have a relevant trading range from last Dec @ 79-81 to balance the $20 explosion of 2014 which would also complete an ABC correction off of the July 22nd chart high. The hog market has also been producing consistent monthly swing cycle correction lows at the middle of each month except for the July chart topping high. This week is mid month and I have a daily count cycle window open the next 2 days for the mid month swing cycle low. My Time & Price squaring targets for this daily count open window come in between 79.00-80.00 or 81.00. I will be attempting to get long between 79.20-80.20 if given the opportunity.
If I do manage to get a pair bot in that 79.20-80.20 range and manage to hold them, I want to see the weekly close remain above 81.00 to have the desire to hold them over the weekend.