Sell Soymeal market, stop at 456.9, 1st TP at 404.8
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hypothetical...
As we Trade above 20days ma - Bulls are back and we can see a nice rally till first Resistance - will be interesting to see if we break it and continue.
It looks like correction on Soybean Meal is almost over.
The price is approaching important resistance level. OBV does not follow the down movement and RSI is already in oversold territory.
I expect the market will turn in coming days.
It is clearly bad from now on, the weekly buy zone at 408.3 - 411.3 did not hold and there is a tremendous sell force yesterday at the same zone.
399.4 is where the bulls must defend or else 376.4 is the target for this short entry at 408.3.
Long ZM1!
Activation of the transaction only when the blue zone is fixed/broken.
The author recommends the use of anchoring fixed the blue zone, this variation is less risky.
If there is increased volatility in the market and the price is held for more than 2-3 minutes behind the activation zone after the breakdown, then the activation of the idea occurs at the...
Long and short ZM1!
Activation of the transaction only when the blue zone is fixed/broken.
The author recommends the use of anchoring fixed the blue zone, this variation is less risky.
If there is increased volatility in the market and the price is held for more than 2-3 minutes behind the activation zone after the breakdown, then the activation of the idea...
Price started to form a liquidity zone in last week's trading and we started to see a liquidity grab move with a minor engulfing pattern at the last hours of the Friday session.
Price hit the lower lows of the liquidity zone and then form an engulfing candle. We could buy the retest here with targets above 440.
Always follow your trading plan regarding entry,...
Hello community, after a 5 wave (12345) impulsive structure we expect at least a corrective structure which contains lower degree impulses. Now the 5 wave impulse is getting completed and we expect bears to take over. I will keep updating this chart if necessary. Comment, like follow for more accurate ideas. Thank you.
Meal has bypassed the critical zone of 384.7 - 435.8 with a monthly retracement way overdue. We have also arrived at the point where we were able to see from past rallies that this zone of pricing always indicated a reversal/retracement. We should be able to see a July '08 kind or May '12 kind of movement that will take place, hence, critical zone. Unless, the...
Price hit the resistance zone on W and momentum got weaker. Moreover, an ending diagonal on H4 was appearing. I wait for the price that breaks the trend of ending diagonal then have a short position
CBOT
