Soybeans - Look at this interesting chart

Look at this really interesting chart of Soybeans             . I entered long Corn             almost a week ago and I was waiting for a good signal on soybeans             . The price reached the rejection line of the descending channel . Volumes dropped on the last down move, and the 14 periods RSI shows a strong divergence. I believe a break back above 900 dollars would be a strong bullish signal.
Trade active
target reached
I'm not more in trade now.
Volume increasing
probably long keep on
Broke and is seems that it will continue the up move!
almost done
+1 Reply
it's not impossible. Recently I only follow Wheat and Corn. Those are quite bullish biased short term, Wheat being the leader. I will check Soybeans too in my model.
Razvan Kumowizard
It's not possible to reach that target or break above 900?
I just released a post on Soybeans based on my Ichimoku-Heikin Ashi model. I enterred long today. Let's hope USDA report will help this position.
In case it extends correction, tgt is 925-950
+1 Reply
Razvan Kumowizard
I allready entered long. Baught before the conf just to have a head start and tight stop.
be careful with tight stops in agris. Last time at USDA I got fckd with that on Corn hahaha
They hit exactly down to my stop level, then rallied like hell. So I lost most of my Corn longs due to these fckr stop hunter HFT algos.
Anyway, I had the wheat long, which made good money.

So the advise is buy less if it is in early phase, and use a wider stop :-)
I think target is 918
+1 Reply
Razvan vaicru
That could be a good local resistance.
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