I see price has had a great run up, this is the 4H chart but the daily is speaking to me. Price has confirmed by a small pullback and now showing rejection at the 50-61.8% Fib levels, price showing an engulfing pattern at those levels.
Soybeans is a touchy commodity, I would think.. like all commodities right now, more upside.. but certainly room for a relaxation...
Love me some Soy.
I see the short, price has rolled over, price did pop really strongly, I would not have longed, the technical picture has advanced and I see the doji on the weekly chart.
The short 2:1 can be tucked in here on the retest of that support area. Let's see what we get here.
Remember, break even is still a good trade.
In case you trade commodities and Soybeans in CFDs...
Even though the trend is decelerating and slowing down considering the previous HL(s), I forecast there will be another wave...
Let me know what you think :)
I have "bean" watching Soybeans for sometime now. I see price has entered an area of resistance, has hit a whole number of $12 and my heatmap indicator is showing divergence.
Price has fallen through my trendline.
I will be going short.
On the daily charts, a couple of shooting stars are present.
I just exited half of my position on Soybean because we are hitting the resistance. This being said, I am still bullish and I want to explain my plans according to the different scenarios that I see.
Scenario 1: Price could go straight up to the next resistance, in which case I will have left some money on the table.
Scenario 2: We bounce to the downside from...
I have been reading the marco drivers on it's run up and the marco on why I think it will drop. man oh man... serious momo behind this commodity.
Ok, now at a pivot point, previous resistance, for an engulfing on daily. heatmap indicator overbought all day.
2:1 RR 1% risked.
Off the top of my head... I have had a couple great wins with this bean.. then a few...
Looking at soybeans from the higher time frame perspective and its price action structures.
We see strong bearish impulse down from mid of 2018, and has been in this larger channel like structure ever since.
Price has been consolidating for these few years, and finally breaking to the top in the recent times.
What I like about the price from a...
Caught using my RJT averages tool this SOYBEANS trade keeps moving higher.
84 points locked in (pink line - 0.8*ATR).
Currently 569 points in profit.
Waiting for exit signal (close cross of upper channel).
Continuation trade also executed and closed (continuation indication - TP white line) for 85 points profit (0.8 *ATR).
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