View On Soy Bean (19 Oct 2021)
We are seeing the potential bottoming in the soft-commodities and it is about go back UP higher.
For the starter, reclaiming the previous resistant of $1,280~$1,300 shall be easy.
We shall see further bullish signs soon.
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EUR/GBP:
• If price pushes down to and ideally just below our lower rayline and it does so correctively, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan...
Soy had a stellar performance since Aug 2020 going up by over 75%. It peaked out in May 2021 @ 1666, but has been on a pullback since. Its currently trading at the Monthly kijun zone which is a 50% fib zone. This is a good place to take a long for the resumption of the bullish move. With the stop loss just below the weekly tenkan and take profit at weekly SSA...
Good morning all,
so September really was pretty devoid of many decent trading opportunities where how I trade is concerned, but once again I ended the month in profit and that's largely because I value my capital and the longevity of my trading career too much to be jumping into average trades when the market doesn't provide anything which I know from my testing...
Good morning all,
I hope you're doing well.
So yesterday I was eyeing up a risk entry within the tight flag that had formed on USD/CHF with the view of riding the bearish momentum to the downside which I believed would likely come into the market now that we'd potentially filled all of the buy and sell orders which were inflating the mid-price up, in part...
Good morning all,
I hope you're well.
Experience has taught me not to fret when the market doesn't look great at least in terms of how I trade, because when some pairs do shape up the whole Forex market tends to shape up across the board and so it appears to be doing again at the moment. To the extent that I actually found it difficult to leave one or two pairs...
Good morning all,
I hope that you had a great weekend and that you're feeling suitably refreshed and focused.
On the subject of focus I missed the AUD/JPY trade on Friday which I said on here as early as Thursday morning might be ready by Friday, because my mum bought herself a new phone last week and I was busy transferring all of her details and data over from...
CHF/JPY:
• If price impulses down below our upper rayline, it does so in a convincing manner and a subsequent tight one hour flag forms, 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 until another setup which meets my plan...
NZD/USD:
• If price pushes down to and ideally just below our lower rayline and the last part of the move is corrective, then I'll be looking to get long with a risk entry either after a phase line break, or just above a one hour or a fifteen minute rejection from it.
• If price pushes up above our middle rayline, it does so impulsively and a subsequent tight...
Just bought some Soy futures as it is bounced from the major support @1370 and the trendline. RSI pointing upwards and above 50% line therefore a good signal for continuation of the move. Soy just bounced from the daily pivot if you'll like to look at that as well. Target is around 1420 next big resistance where it can slow down, so I will close my position there...
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.
1% risked.
-Happy Trading!
Hello Everyone,
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 :)
