I find risk/reward of this trade quite attractive. Sell short at current price with stop above 1000. Fist (small) target @ 976, second target @ 942, third target @ 882.
Horrible. It cant even broke above the sma50. This is a short with a stop in the declining green line. Below the yellow line will accelerate to new lows, at least 760
Nice triangle working... two weeks ago we had a false breakout and now we are testing the base of the triangle again (983). The most probable resolution of this pattern is the continuation of the main tendence, that is, to the downside. The truth? Im not sure of this one... the theory teach us that the most probable outcome is to the downside, but im not...
Corn has broken and closed below it's wedge on a weeky time frame. We are looking for pullback triggers to get involved to the short side. Targets are identified and the stop will come from the trigger (on a 60 or 240 min chart)...NO TRIGGER, NO TRADE!
In the accompanying chart I show a high probability support zone for $ZS_F Soybeans at approx. $835 - 790 zone. If demand signals start flipping and firing, that may be a good place to go long. Meanwhile, in the absence of any real demand, I can't see a turn around. The recent lows look vulnerable.
After a two week rally, soybean (ZS) is now bumping into downchannel/descending wedge resistance on the weekly chart, which coincides roughly with the 1000 psychologically key resistance level. Weekly RSI and Stochastics are in rally mode, while the MACD which a few weeks back appeared ready for a negative crossover has strengthened again and is sloping up now....
Above 998 and the squeeze will have shorts scrambling. A close above this area and we will be looking for triggers long.
Soybean has been a tough market for those traders seeking volatility as it has been on a “wait-and-see” mode for a couple of month now. I do not expect any major movement on the short/mid run; however, I do see a possibility to “widen” the current trading range. The wave counting above suggests that a B wave would be completed (or nearly completed) and a possible...
Still looking for a trigger in Corn. Nothing yet. If price takes out the highs we will take it off the watch list.
ZS has found major support at around the 900 level, as seen by the weekly RSI, Stochastics and MACD all turning up from oversold levels. The 900 round figure coincides with major bottoms in 2009 and 2010, along with near bottoming activity in late 2008. ZS appears to want to target roughly 1000 in the near-term where downchannel resistance can be expected to...
Holy Shazaam Batman. ZC wasn't as tired as we thought. This leg tells us the harvest will be plentiful (duh) and Corn prices are not in line with the supply. We don't have a position...yet. We will ignore all shorts at these levels and watch for a reversal day to start nibbling long. For now we will watch the free fall.
ZC is telling us that it's tired after it's most recent move and will wait until the harvest begins. Could be a 2-3 week of this junk. We don't have a position.
ZC is starting to feel choppy in this area so we are taking off our long position at a small loss. Like we mentioned, this could chop until harvest starts. We will keep her on the watch list. NEXT!
Wow...this is going slow. We mentioned that this could chop until harvest begins. Smells like this happening. If it chops for another week we will cover our position and wait.
Corn is holding on and it's now go or no go. Corn could start to go sideways until harvest begins. We are watching this very closely. We are still long and will stop out with a close in the descending wedge.
Corn still acting well. Back to the break out area is normal. If it breaks down from here we will most likely see more downside. A bounce from here should test the most recent swing highs.
And there she is! After the crop report the boys decided to give a little head fake and run the stops of the weak longs. Now if we get above the 362.2 we could see a nice squeeze would could pop us. We are long and will be holding for the gap fill. Understand we are not fools at OFT... we can read. We understand that the agency is calling for a record 14...
The beans are a bit long in the tooth. A topping pattern is playing out. We want to be short (small size) for a short term reversal.