machintose

Week 27: ZSN2021 A quick short opportunity

Short
CBOT:ZSN2021   SOYBEAN FUTURES (JUL 2021)
Last week the support level did not break (yellow zone) and resulted a huge jump.
Early this week we saw the sellers were back in the market, however they didn't have enough momentum to push the price lower.
Based on today's chart reading, $14.63 is a good area to sell.
Stop Loss will be at $14.83 and Take Profit is at $14.20

This will give us RRR = 2.17R
Bullish momentum is still strong, so this will be a quick trade.