Soybeans consolidating lower in a Wyckoff trendline range
The big drop last week was not sustainable; it was a big seller momentum but the price did not manage to breakthrough $15.20 level; it failed twice (double bottom). Therefore, currently the price is in range $15.20 to $16.00. On the side note, in H4 (as I write this), the current 3 candles are pushing higher with a small gap in between; it shows the Buyers are...
I'm thinking it will head down towards the lowest trendline before continuing up. That seems like something an efficient market would do.
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Looks like a perfect 5 wave Elliot followed by 50% ABC correction. I'm starting to look for these more, and I feel like I'll be able to trade them soon. For the moment, the only trades I'm getting into are when the market tells me which way it's going and I get in along with it. That means linebreaks, so I'm waiting for the down-trendline to break to the upside.
I see price has had a great run up, this is the 4H chart but the daily is speaking to me. Price has confirmed by a small pullback and now showing rejection at the 50-61.8% Fib levels, price showing an engulfing pattern at those levels. Soybeans is a touchy commodity, I would think.. like all commodities right now, more upside.. but certainly room for a relaxation...
i wait the price will touch the HCR or the ma20.
April 15th I posted this chart saying "Sugar is SWEET" Since then it's up over 10%. if this is the major breakout I believe it is, hold on to your seats.
We knew we could have the rewards of a ''cryptocurrency trade'' with aq traditional, soft commodity and we knew that was Corn. Further to our previous idea the chart was agreeing with the statement and we are now half way through to the 918 target. So, allow me to call it ''BitCorn'' ps. Fun fact : ''Corn has proven itself to be one of the most effective...
Last week right after the Asian market open, the weekend gap was filled, our $1440 Decision Point level was breached and it went up to the moon. There were no sign of weaknesses yet, bullish momentum was strong on each upward push. Today the market was opened with a gap up again and as I am writing this, there is no sign of reversal yet; therefore we stay put and...
Hello,Traders! COFFEE futures are now retesting the daily resistance level again And I think there is a good chance for us to see a pullback To retest the nearest local support Sell! Like, comment and subscribe to boost your trading! See other ideas below too!
Love me some Soy. I see the short, price has rolled over, price did pop really strongly, I would not have longed, the technical picture has advanced and I see the doji on the weekly chart. The short 2:1 can be tucked in here on the retest of that support area. Let's see what we get here. Remember, break even is still a good trade. 1% risked. -Happy Trading!
Corn looks very bullish to me. Corn has large gaps between support/resistance levels. That means when the price moves it moves fast. Corn price has broken two resistance levels and broken out of a symmetric triangle to continue the bullish momentum. The large time gap between the previous high and the breakout could mean that Corn could move to the next...
Corn probes above $6 for the first time since 2013 Farmers will favor beans Keep an eye on gasoline and ethanol prices Corn continues to pop going into the planting and growing seasons- It’s all about the weather Backwardation as the market has high hopes for 2021 output In late April 2020, the corn price fell to its lowest level since 2008 when the...
Our target last week is now triggered, it is a good selling zone with favorable risk reward ratio. Where is my Take Profit? I will set at $13.91 level. In overall picture, the price is ranging in a wider bandwidth from 11 February till today. I will update again from time to time.
Coffee price have fallen into bargain basement levels following recent EU lock-downs. However, Brazilian supply dynamics remain bullish, the Brazilian currency just broke its 6-session losing streak, and the EU will eventually be open for business. So when things seem to be at their worse, now is the time to buy. Best option: buy vertical call spreads. I like...