I have updated my wave count on short soybeans. I am posting it as a new idea. Maybe I'm suppose to update the old?? IDK , new to this s**t. South American weather is ideal for planting-this is not bullish soybeans. Crush margins are great in the USA keeping basis firm through harvest.
Fundamentally looking for soybeans to drift lower through fall and reaching the .618 level of the impulsive move higher that started last year. Since this is a continuation chart I am not married to that level but will be looking for signs of bottoming. The catalyst higher will come with Chinese buying and South American weather premium.
Line of Least Resistance determined by Underlying Conditions in my Global Macro Campaign. Price Action Behavior suggests short attack taking advantage of sellers at previous breakout, to accumulate for next wave... which is building up quickly. I will know if my suspicions are correct at the median line. US-China tensions will make the supply scarce, and NATO...
Recently we've watched FLWS and aggriculture names move in a correlated way during the waves of inflation experienced this year. Could this trend be growing tired?
it seems to be necessary break top resistance and then we would enter to position for 3-4 days :D let see what will happen...
Looking for Long position at price 12.850-12.876 with target 13.014 & 13.144 in extension. TAYOR
Wait for Breakdown in Structure to Short It's below 20,50,100 and 200 EMA also.
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. I would...
Trend Analysis 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...
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...
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...
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 Bullish...
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 Good luck!
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. Beans tank 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...