This index is breaking down after showing bearish divergence and having a false bullish breakout on the Daily and Weekly.
Based off this and the weakness we're seeing in the commodities themselves i expect the prices of Precious metals to begin a new downtrend in the coming weeks and for the price of Thongs such as Wheat and Soy to have a major decline.
The main view of this trade idea is on the 2-Hour Chart. Soybean Futures is experiencing a broadening pattern in the respective timeframe. This pattern comes with increased volatility as the trendlines are expanding outward. It is projected that the commodity will rally towards 1440, around the sighting of a gap lower. An indicative stop loss is...
For the whole week the market is still ranging within the uptrend channel.
However, as to date, we have seen a sign that the price is about to go down, we just have to wait for another final confirmation.
Overall I am bearish bias; when it is time to drop, it will go down to $12.80
Just bought some Soy futures as it is bounced from the major support @1370 and the trendline. RSI pointing upwards and above 50% line therefore a good signal for continuation of the move. Soy just bounced from the daily pivot if you'll like to look at that as well. Target is around 1420 next big resistance where it can slow down, so I will close my position there...
Hey there. Just one question, do you see any buying pressure in the Volume Oscillator? No? Yeap me too, so we will strong on short. Price will make(finger cross) a reversal at the trendline and we will be exiting our position in the next resistance turn support.
P/S: My position was entered yesterday at 1412.6. The reason why I posted this is because some of my...
This week update was a bit late because not much activity since the beginning of the week.
The price is still in consolidation mode, ranging tightly in up trend.
There is an opportunity to short, however the Risk Reward ratio is only around 1:1.3 which is not favorable.
We wait until the price breaks the channel and we can enter with smaller risk.
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
If you are still holding your short position from last week, it is time to manually close it.
The price was stopped at $13.28 area where it formed "W" or mini double-bottom; does this mean a reversal to be bullish?
My upper limit is at $13.82, if the price breaks and close higher that $13.82, then YES, it is likely to be bullish.
However, if the price broke the...
Last week prices went down hard, I didn't anticipate to go down that fast. It broke the structure and the major trend is now a Down Trend.
There more opportunity to short the market until it reaches $12.93
Here is my trade this week:
Sell Limit at $14.37 area (you can short now too)
Stop Loss at $14.76
Take Profit at $12.93
Risk Reward Ratio = 3.68R
Last week, the commodities sector experienced more than a speed bump after an extended period of price appreciation. As July soybeans roll to the next active month and the new crop November contract in the futures market, the price became a falling knife before recovering on Friday, June 18.
They were not the only commodities
A Fed hint made its...
Last week the seller fought back with momentum, it broke the support level $15.00 and going down further.
Normally after a series of drop in price, we will wait until the price normalizes (this is where "short" trader will take profit by buying back).
From the current price movement, we can wait and ready to short again at $15.00 area and our target to take profit...
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...
This week we are anticipating the price to range in a downtrend channel.
If the price breaks the channel (upward), then the immediate target is at $1600 level.
However, if the price continues ranging in the channel; let it springs up to $1540 area, then we can short it (Higher probability it will break the support level).
For now, just wait and see.
PS: If you...
Our trade last week was successful, it takes a week to finally hit our Profit Target.
Now the price is reaching the flip zone or demand zone; I would anticipate the price will have some rejection in this area.
This week we will LONG ZSN2021, here is my trade:
Buy now at market
SL is at $14.86
TP is at $15.45
RRR = 2.45R
Always move your SL when:
1. You see a...
With all the drama of last year and many areas locked down, one of the big sufferers was agriculture. Much of last years yields went to waste and panic buying occured. Which I'd guess also went to waste for the most part.
As you can see on my chart I'm expecting a sizeable pullback in price before the event, which is completely normal.
let it collect the orders...