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ZM2! trade ideas

Long on ZM1! (Soybean Meal Futures): My 5 Reasons to TradeHere's my idea to go long on ZM1!. This is a 4-hour chart. First, I always need 4 independent reasons to take a trade. They are as follows ... 1. Location - Is the price in the correct location? In general, I price must be in the bottom of a range for a long, and at the top of a range for a short. 2. Market Structure - Is there a double bottom with a breakout? I need to see a 'W' like structure in price. 3. Momentum - Is there a divergence in MACD? This is one sign that a reversal in trend is around the corner. 4. Volume - This is paramount. I need to see a bullish trend in volume if I am going long, and vice versa for short positions. And when I am trading commodities, I need a 5th reason - the CoT (Commitment of Traders) report. In short, I need to see signs that institutions (large speculators) are going long when I am thinking long and going short when I am thinking short. So, do we have our 5 reasons for ZM1!? Let see ... We have ... 1. Location: We are in a reload zome (between 0.618 and 0.786). In other words, we are near the bottom of a range 2. Market Structure: We see a double bottom with a breakout 3. Momentum: We have MACD divergence. That's it. What are we missing in? Volume: Let's wait until the volume make a 'W' on the other side of the red trendline. CoT Report: Let's wait until we see a sign of large speculators (red line) loading up on long contracts. For this, I'd like to see further stair-stepping action. Now, I only take trades where the minimum reward-to-risk ratio is 2:1. The 'W' gives us a nice framework for when to exit (stop loss) our trade. I am risking to the lower leg of the 'W'. For our target profit, I just extend the R/R tool so 2:1 and see if that is a reasonable area to expect the price to go. Is it reasonable, in this case? 2:1 profit takes us to : - A cluster of support and resistance - Middle of the Volume Profile These are two areas are where price often settles too ... so we're good for our target :) That's it. We have 3 of our 5 reasons. Let's wait for the other 2 to come in, and then it'd make sense to go long.
CBOT:ZM1!Long
by realcapmillen
SOYBEAN MEAL FUTURES (MAR 2019), 1D, CBOTTrading Signal Short Position (EP) : 319.4 Stop Loss (SL) : 320.3 Take Profit (TP) : 317.6 Description ZMH2019 formed Turtle Soup at 1d time frame. Trade setup with Sell Stop at 0.382 Level (319.4) and place stop after 0.618 level (320.3). Once the position was hit, place take profit before an agreement (317.6) Money Management Money in portfolio : $280,000 Risk Management (1%) : $2,800 Position Sizing $0.10 = +-$ 10/std-contract Commission fee = -$5.64/std-contract EP to SL = $0.9 = -$90 Contract size to open = 30 standard contracts EP to TP = $1.8 = +$180 Expected Result Commission Fee = -$169.2 Loss = -$2,700 Gain = +$5,400 Risk/Reward Ratio = 1.88
CBOT:ZMH2019Short
by SuppasitWechprasit
January Soybean Meal Channel and Head and ShouldersMeal is setting up for a H&S drop. Neckline comes in at S1 at 304.3. If the bears can force it through the neckline and stay below S2 that would be next target at 298.6. Minimal drop would be last shoulder which would take us to just above S3 at 289.3. RSI isn't all that great for a drop, but we will see. There is also a contentious bull flag here so one or the other has to give. If upside produces itself we would be targeting outside of channel at R1 328.6
CBOT:ZMF2019Short
by hopscotch
SOYBEAN MEAL FUTURES, 1D, CBOTTrading Signal Short Position (EP) : 330.6 Stop Loss (SL) : 335.4 Take Profit (TP) : 311.3, 0 Description ZM formed Double Repo Sell at 1d time frame. Trade setup with Sell Stop at 0.382 Level (330.6) and place stop after 0.618 level (335.4). Once the position was hit, place take profit before an agreement (311.3) and 0 Money Management Money in portfolio : $150000 Risk Management (1%) : $1500 Position Sizing $0.10 = +-$ 10 (Standard) Commission fee = -$2.82/contract (Standard) EP to SL = $4.8 = -$480/contract (STD) Contract size to open = 3 standard contracts EP to TP#1 = $19.3 = +$1930 (STD) EP to TP#2 = $0 = +$0 (STD) Expected Result Commission Fee = -$16.92 Loss = -$1440 Gain = +$5,790 Risk/Reward Ratio = 3.97
CBOT:ZMZ2018Short
by Fast9