machintose

Week 23: ZSN2021 Be ready to short at $1585

Short
CBOT:ZSN2021   SOYBEAN FUTURES (JUL 2021)
Last week price broke the channel and continuing upward consolidation.
Yesterday we saw an aggressive move by the Seller, however, it doesn't mean that the price will plunge straight-away.
However, feel free if you want to short it now; in my view, the best level to short is at $1585 level/area. That's where your RR is more favourable.

So here is the signal for our discussion:
Pending Short Order at $1585
Stop Loss at $1616
Take Profit at $1530
RRR = 1.56R

Good luck!
Trade active: Move your SL to $1580 and wait 4-5 more hours, if the price does not go to our Profit Zone; then close it manually.