View On Soy Bean (26 Jan 2023)
What a lovely Bullish Price action we had.
It also have a strong monthly swing level (1450~1470) to boost.
I am expecting the price of Soybean is to go UP further.
The momentum will pick up stronger once the price has broken up 1510 region.
Le't find out.
Legal Risk Disclosure:
Trading foreign exchange or CFD on margin carries...
The main view of this trade idea is on the Daily Chart.
The commodity Soybeans appears to have found some support around the 1350 price level. The commodity is in a trend channel higher and once that trend channel holds, could rally towards 1800 over the next couple of months. This view will be negated if Soybeans fall below 1420.
Technical Indicators
The...
• If price pushes up to and ideally just above our middle rayline, then regardless of how it does so I'll be waiting for a convincing impulse back down followed by a tight flag and then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait...
• If price corrects and a larger three touch one hour flag forms, then I'll be looking to get short with a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan materialises.
• If there's any ambiguity then I will not place a trade on this pair.
nice consolidation after trends were broken, I think once it breaks 1500 round number resistance, we can see push to all 52w highs
drop boost and follow if you enjoyed :)
Summary of the last September WASDE Report:
***WHEAT***
– U.S. wheat outlook for supply and use is unchanged this month
– Global wheat outlook raises supplies, consumption, exports, and ending stocks this month, as production increases for Russia and Ukraine, more than offset a decline in beginning stocks. Area harvested, yield, and production for Russia will all...
The current square PQRS is a 1008 X 1008 units sides
Origin is from the low in 2019
Price axis is measured from the 2019 low 790.65
Time is measured in trading days
The cycle has a typical ending diagonal as in Elliot's wave pattern
Trade with care, good luck
Hello traders:
Also have SOYBEAN on watch from the commodity market.
We can see from the HTF:
Price is potentially forming a continuation correction after the previous bullish impulse phase up.
On the lower time frame, we can see the bullish continuation correction a bit more clear. With a few swing highs and lows, price made a descending channel and correct...
SOY also holding above trend support similar to corn setup
also breaking local trend resistance, a big breakout past this resistance can send it to 1785-1889-1993
Bias: Sell
Target Price @ {17.533 ~ 16.428}
Summary:
There are multiple PinBar, InsideBar, Fakey occurred around the static horizontal level @ 16.728
Enter on break of current fakey
Risk Reward 4x
