SOYUSD overall in uptrend, looks bullish, waiting for retracement to the marked area and when it gets there pick up some longs as bulls come into the market. SL ideally below swing low. It bounced off 10.7/10.8 tops previously so do not be too gready with targets rather bank sth than end up with a loss.
I was inspired by a friend who was asking me about the soybean. I don't trade this commodity but it was worth looking at now.
See how the price reacted nicely to the Bullish Bat at around 9.17, and now I see a potential Bearish Bat to short at around 10.23
It just goes to show that as long as the financial instrument is liquid enough, there will be Harmonic...
Soybeans is one of my favorite products to trade because of it just keeps on trending & always has reliable great setups!
Just wait for the breakout on the 4 hour & the pullback ! simple
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To the left we can see an impulse! now are in an correction. All you have to do to get in this trade is WAIT!, If it breaks don't rush into the trade just wait for the pullback it's the safe way to trade these setups. After the pullback occurs we simply wait for a close over the 10EMA then go! Simply & Easy
I believe that successful trading strategies rely heavily upon identifying consolidation zones. Consolidation zones provide us the right direction of the market. Consolidation happens when a market move sharply upside or downside. Later, a trader can use these consolidation zones to identify patterns, whether it be a continuation or reversal.