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...
Looks like them beans are UP to something... They will make it there... Eventually ; ) Not Financial Advice. Trade Beans at your own risk. Cheers, -SKYLOBSTER
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...
This morning during Asian market, volatility was low and structure wise, it is trending down to break the $15.82 support level. I am on bearish bias and will place a spot short order: Entry: $15.82 Stop Loss at $16.13 Take Profit at $15.08 RRR = 2.39R It may not be a short drop, protect your profit when you are already in profit zone. I will update again...
Commodity prices are still going, several commodities have gone past all time highs, such as Palladium, Lumber, Steel... And grains are also going up very strongly, Corn hit an 8 year high after 6 years of price stability, and they're all not far from ATH. Corn imports have fallen as buyers are put off by the high prices (they are going against the trend, what if...
This week onwards we are using ZSN2021 chart. In H4 charts we can see the rejection candle at $16.00 however there is no seller yet. Prices are ranging in a tight range and the only sign for bearish if the price is closed at or below $15.60 For the time being, not much movement on Monday. We shall see the candle movement in the next few hours.
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 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...
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...
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!
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.
Technically it is forming a bullish flag. I would place my Buy Limit at Demand area, which is at $13.70 level. Also, I have a pivot marking at $14.05 --> it serves two purposes: (1) if my Buy Limit is triggered, $14.05 is my Take Profit level. (2) if the price does not go any lower and crossing $14.05, it is likely to continue to be bullish. Overall this week is...
Long limit entry 1408 SL 1357 PT 1510 BE 1470 RRR 2:1 CBOT:ZS1!
Sorry for the late post .. let's get to it. Based on the price movement last week, here is what I saw: (1) Strong bullish movement driven by the news, but it still did not break the previous High. (2) The Seller is pressing the price down from the top (Thursday, 01 April 2021), it shows that $14.44 is holding it's level. (3) As indicated last week, my support...