Took profits on my SOYB position for some nice gains considering a lot of downside in the equities market. On a monthly time frame, SOYB is approaching resistance zone so I took profits and will be watching to see how price reacts here. I'm expecting retracement / consolidation here before continuation to the upside or back down from profit takers and sellers...
Some nice VCP / Saucer Handle patterns on JO as it continues to climb higher. Watch for a break higher if it can chew through 67 zone resistance Break lower out of triangle / trendline support invalidates long idea. On a macro level we're seeing bullish setups in AG complex (coffee , rice, wheat, corn, soybeans, etc.) , coupled with inflation coffee should...
Shorted some sugar, based one previous resistance and top of rising wedge, will keep SL tight. Look for retest of lows as indicated * Prices shown in this chart is based on OANDA, price might differ from the product traded and brokers. However the underlying principles are the same
Starbucks Corporation, together with its subsidiaries, operates as a roaster, marketer, and retailer of specialty coffee worldwide. The company operates through three segments: North America, International, and Channel Development. Its stores offer coffee and tea beverages, roasted whole beans and ground coffees, single serve products, and ready-to-drink...
WHEAT made a sharp and impulsive drop from the mentioned resistance levels, at Fib. ratio of 0.382/0.50 and at the level of a former wave iv (795/800 area). We labelled a possibly completed five-wave structure in C at 757 lvl., which means a minimum three-wave rally can now be in the cards, and is already underway. If only a three-wave rally shows up, and then...
corn looks pretty ripe for a nice little reversal saw a clean 5 waves down into Wave (A) to the 0.382 algo target, and is currently trying to poke out of the downtrend it's been in. i do believe that this mean reversion begins in the days ahead for the Wave (B) swing to the 0.618. Wave B target = 642 Wave C target = 423
in my last post, i called out the corn bottom via 👇 people told me some weird things about that call out, something along the lines of "no way bro" well we hit my target m8. are you going to short corn?
Double-bottom -> break-out -> break of the descending trendline -> now a re-test of the trendline and MA's -> I think we will be soon ready for a bullish move!
WHEAT (MAR 2022) made a textbook example of an impulsive (five legged) wave, down from 831 high, and found a potential low for a higher degree wave A or 1 at the 774 lvl.. Price can now be in a temporary, corrective retracement labelled as an a-b-c flat of a higher degree wave B or 2. Possible resistance is at fib. ratio of 0.382/0.50. In case if price starts...
WHEAT is trading in a five-wave decline for a higher degree wave 1 or A from 831 high. We also see that price broke below the lower corrective parallel channel line, which is a confirmation that a temporary high is in place, and a change in trend underway. At the moment we are tracking a sub-wave v of 1/A, down from 795 lvl., where a corrective sub-wave iv had...
WHEAT (Mar 2022) is trading as expected, turning in impulsive fashion down from 831 high of a former higher degree wave C. We labelled a five-wave move in progress for a higher degree wave 1 or A; sub-wave iv correction can now be underway, with possible resistance at the Fib. ratio of 0.382 or 0.50. Also the upper side of the lower parallel corrective channel...
Going long (commons) on SOYB Agriculture looks bullish and I like the textbook breakout here. Also with equities wavering, SOYB DBA CORN agro charts appear more bullish to me IMO Respect the stop loss and but give this trade idea time, she's not always the fastest mover
WHEAT (Mar 2022) found a low for a corrective wave B at the 776 level, near the Fib. ratios of 0.382 and 0.5, which can also react as support, and bounced sharply higher. A sharp rally above the upper parallel channel line, and above the former high at 803 lvl. is an indication that bulls are in control, and that correction is completed. We are now tracking a...
Commodities are known for their easy to follow trends and Sugar here might be starting a long trend.
A five-wave rally on wheat (March 2022) from 737 lvl. on the intra-day chart makes a bullish sign, and suggests more upside, once current a-b-c correction fully unfolds. Correction can be a complex one, and can look for support at the 770/761 region, where wave iv and Fib. ratio of 0.618 sit.
Risk/Reward here is insane. Optimal long-term short entry. This is the third time cotton has been at this level in 50 years. Use good risk management unless an anomaly occurs like it did in the 2011 spike. Don't risk more than 1 to 2 percent of your total account size.
CF Industries Holdings, Inc. ( NYSE:CF ) Sector: Process Industries (Chemicals: Agricultural) Market Capitalization: 14.155B Current Price: $66.00 Breakout price: $70.00 Buy Zone (Top/Bottom Range): $66.00-$61.50 Price Target: $78.90-$80.00 Estimated Duration to Target: 80-88d Contract of Interest: $CF 5/20/22 70c Trade price as of publish date: $4.95/contract
Nutrien Ltd. ( NYSE:NTR ) Sector: Process Industries (Chemical Agricultural) Market Capitalization: 40.677B Current Price: $70.82 Breakout price: $72.25 Buy Zone (Top/Bottom Range): $70.50-$67.25 Price Target: $79.25-$80.50 Estimated Duration to Target: 114-120d Contract of Interest: $NTR 6/17/22 75c Trade price as of publish date: $4.40/contract