Soybean Bollinger Band Squeeze

Three squeezes are noted on the chart with the current one having a yet-to-be-determined resolution. If it plays out according to theory (source: John Bollinger book "Bollinger on Bollinger Bands"), the price action will begin a strong move either up or down. Based on the descending triangle-like nature of the current formation, and the bearish readings on the MACD, I'm watching for a price break to the downside. If it breaks to the upside, I'll be bewildered.
The price bar coloration is based on the MACD Hybrid BSH which is a script I made and is available for anyone to use. The colorization logic is explained in the script. Basically it interprets whether the standard MACD is bullish, bearish, or neutral. I'm watching for a red signal which would be triggered by the MACD crossing to the underside of the signal line again. I'm setting an alert to 1240'0.

Trade active:

Very high volume today with -2.04% move on the day. Entered a short position early, hopefully this isn't a head fake move, but the volume is so high and daily-chart price formation so bearish that I'm taking my chances.

Trade active:

Price jumped up to the bottom of the triangle today. I will be watching for a new low to be put in in which case I may add another short contract or for the triangle to be compromised in which case I'll be closing my position.

Order cancelled:

I'm out of this trade, but considering getting back in upon signs of weakness. We've bounced off the 20-month moving average and the monthly MACD is current showing a signal cross for this month.

Comment:

The 20-month has been violated and we bounced off of it again. It's hard to tell what's going on but the volatility might make for some good day trades. The completion of this monthly candle will hopefully shed some light on future direction. No position.