TAKE PROFIT: 9.685 STOP LOSS: 8.844
Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Looks good to long if we take out that low. Will be waiting there. Goodluck
Why Wheat and why now. What about Soybeans and Corn. Looking across the Ags, it seems that Wheat is enjoying the most upside. Why is this. In keeping with my focus on the DMI and ADX, I think you’d have start by looking at the monthly chart of the 3. One of the key tenants of DMI/ADX is that best trades seem to originate when the ADX is below 20 for an...
After seeing such a steep recent decline I started looking for signs of a bullish bounce. Unfortunately, it looks brutal: 1. recently retraced more than 100% of previous up-move, which indicated additional consolidation / correction is needed. 2. While it is a little messy, I can make out a 5 wave down move from the 2012 highs. This would mean we are likely...
Based on that soybean has bottomed near 8.5 during end of 2015, the subsequent rise to 12 is an impulse wave, followed by an ABC correction to 9. Since Jun 2017, we have another impulse to 10.4, followed by a correction to 9.15. Recommend: Long with a tight stop loss
Overall, market is down but could be in final stages of down trend from 2012 highs Monthly Chart In the March/April time frame, the DMI changed to where the -DI is dominant. The ADX continues to trend down signaling whichever dominant trend is not that strong. Current targeted support is 8.910. Though, there is an area in the +/-8.000 range that has provided...
Long-term fundamental is bearish . US has big soybeans 0.23% stocks , export is falling. Harvest in Brazil and potentially big crop in South America adds bearish sentiment. Weekly chart shows rejection of VAH, price moves down inside balance, so I'm waiting the continuation of price falling.
Please keep in mind when reading all of my charts I am still a novice and have very much to learn! But I still enjoy sharing my thoughts and interacting with the community, so here it is: The trend seems to be up so I like looking for a buy. The bullish Gartley completes at 10.437. This may be located on the trendline depending on when it completes, but seems it...
My main idea here is to watch for weakness and short in the red area which is the completion of the two bearish AB=CD patterns shown in the chart. There is also a longer term downtrend line at this zone which would be a nice place to enter. At that point I will also look for divergence in my indicators, as well as check for any warning signs such as large bullish...
In the chart are potential patterns which I have identified on the long term Soybeans chart. While only some or even none may complete I will be using this idea as a journal which I am planning to update every week or two regarding the patterns in the chart or any new patterns which I can identify. If the smallest AB=CD patterns shown fail the trendline will...
I've included several charts here that high-lite some of my current thoughts on Soybeans. Starting with the monthly chart and then working through the weekly, daily, and then 4hr that has some thoughts on entry into the market to long side. Weekly: Daily: 4hr:
Is soybeans setting the stage to make another run at an upper channel line of resistance started with the August 2012 high? Current weekly and daily action looks like this is the case. Should price continue up, how it responds will indicate if new shorting positions should be taken of existing longs can be held. Another option would be to hold longs with this...
I believe soybeans are staging to have the largest run up since 2007 Daily Since Sept, indicators (slow stoch, TSI, and RSI) have been diverging with price. Additionally, the 9 and 20 period EMA on price have crossed and turned up as well as crossing over the 50P EMA. In Oct, the ADX dropped below 0 signaling price consolidation. On 10/17, price broke...
I'm watching soybeans for a pullback on stoch and for ADX to move over 20 with +DMI holding. A move up in price after this scenario could be a buy signal.