Soybean short 8pm EST at market BUTwait for the spread to tighten. Stop @ 863.90
The price on these charts ar 100th of my trading account which makes it around 8.6390 Always use a stop loss and protect your working capital.
Soybean
Bearish Potential on Soybeans by ThinkingAntsOk4H CHART EXPLANATION:
At the beggining of May, price started a strong bullish movement towards the Weekly Descending Trendline. Once it faced the zone, it could not consolidate above and the trend became weaker. Then started moving sideways and it has recently formed a Triangle Patter, which was broke downwards yesterday. We expect a downside move towards the Multiple Support Zones.
MULTI TIMEFRAME ANALYSIS:
-Daily:
-Weekly:
WATCH SOYBEAN VERY CLOSELY, STARTING OF UPTREND? 28 MAY 2019Watching Soybean very closely, a close above 8.35 might signal a trend reversal for soybean , notice the 21st May exceptionally large volume and the how the price reverses after going below 8.00. After a clean break above 8.35 , having a buy limit at that area can be a good bet.
Trade War and Commodities - Technical Behavior ExplainedFirst let's take a look what happened between China and United States.
FUNDAMENTAL VISION
-At the beginning of 2018, United States started a trade war with China, imposing tariffs on different products.
-In response to this measure, the Chinese government imposed tariffs on US products including some raw materials, the main product exported by the United States to China.
-In relation to this, there was an excessive decrease in exports, reaching the minimum quantity exported in the last 8 years.
-By decreasing the demand for products, this led to a decline in prices. In the case of soybean, we saw a few days ago how the price reached the minimum since 2008.
TECHNICAL VISION
WHEAT WEEKLY CHART
SOYBEAN WEEKLY CHART
-We observe that price behavior was pretty similar in both assets.
-In case of Soybean, the first down move was stronger than the Wheat, but then both of them started a similar consolidation/accumulation process to continue the down move.
-In the case of Wheat, price did a -18% movement since the previous Max., and then formed a flag pattern that lasted around 5 months. The breakout was perfect, and the bearish trend continued with a -16% movement. In total the downside movement of Wheat was around -28%.
-The first down move of Soybean, was around -24%. The pattern of consolidation was an ascending wedge for about 6 months, in which the movement after the breakout was slow at the beginning, but then it dropped on a -12% move.
"Top and Bottom Analysis" SOYBEAN by ThinkingAntsOk4H CHART EXPLANATION:
In 4H timeframe, we observe that price has broke the Descending Trendline with a strong movement. It has potential to reach the Resistance Zone. However, we need to be careful because the downtrend still active, so it can be just a correction to continue the down movement.
Updates comming soon!
MULTI TIMEFRAME VISION:
- Weekly:
- Daily:
Soybean Selling opportunityKey level: 1082’4
Soybean market has been in sleeping mode since JULY 2018.
Uptrend sideways movement that clearly develop into triangle pattern add support to our wave count that soybean are currently in wave (4) phase.
By using Elliott rule of “WAVE 4 never enters the price territory of wave 1 and 2”, we can establish a strong invalidation level of 1082’4 served as our key level for this wave analysis
Trading strategy:
Wait for a clear impulsive 5 wave structure down to support the idea of wave (4) is already in place
Happy trading
SOYBEANS LONG TERM BY DANIEL BRUNO, CMTDANIEL BRUNO, CMT
I HAVE NOT EVEN LOOKED AT A SOYBEAN CHART IN 13 YEARS
PRICES HAVE RETRACED CONSIDERABLE SINCE THE HUGE RUN UP C. 2007
MONTHLY AND WEEKLY TIME FRAMES ARE BEARISH, HUGE RED ENGULFING IS LAST CANDLE
SOYBNUSD SELL FOR SHORT TERM, BUY FOR MEDIUM TERM.Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for sell. On bigger time frame, price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
SOYBEAN - What kind of pattern should be this one?The #Soybean is developing an interesting structure. What should be the next move? The RSI oscillator could give you a clue.
SOYBEANies - A simple approach to find hidden facts.Here's how I approach the beanies.
It's a simple concept and it "works" over and over again.
But...what do I mean by "work"?
I mean, that this concept (...go by the numbers on the chart) helps me to understand, and to reveille what's obviously, but hidden from my eyes at the first glance.
It's a simple plan what to analyze step by step...from top-down...exploring different types of facts and finally putting them together into a story that makes sense.
That's it...no magic, just pure crafting.
And you can do this too!
Seriously, just start...
P!
Soybean Meal: Long towards the neckline's Resistance.The price has completed a Head and Shoulders pattern on 1W (RSI = 45.662, MACD = -8.520, Highs/Lows = 0.0000). The neckline is within 293.90 - 341.40, a range that Soybean Meal roughly traded in for 540 days (August 2016 - February 2018). This can be used as a basis for a long term sideways strategy of selling near the Resistance and buying near the Support.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
ZS Soybean fut pointing to positive trade outlook with gap up?ZS Soybean fut pointing to positive trade outlook with gap up
Soybean futures - Short to 700; Horizon: 6 monthsSoybean futures in the CBOT will approach the late 2015 levels of 800-850. The last time this downward support was crossed was in 2004 and it was a big downward trend of -35% with good short entry opportunities. This position is correlated with our medium-term view of bearish commodities in the next 6-7 months with a bullish USD and a bearish EUR. Our target is a drop of -18%, approximately at a price of 700.
SOYBEANS BUY (SOYBEANS – US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
Soybean Futures Momentum BearishThis week price closed with strong bearish momentum after hitting the reversal zone.
With production estimated up, and uncertainty with China trade, the bearish momentum may push further to 854 - 820 level in coming weeks.
Looking to complete the downward range to -27.2% level of the weekly Fibonacci retracement range.
Buy Soybean Meal after a small pullbackAccording to Larry Williams if we make a higher low we can be buyers here - targets are 330-335
Rectangle Support tested. Reversing towards the Resistance. LongSoybeans (ZS1!) are consolidating (Highs/Lows = 0) near the 1D Rectangle's support (810 - 910). Based on this sideways pattern since late June, the price should now approach the 910 Resistance. We are long, TP = 900.
1D Lower High made. Short.Soybean Meal (ZM1!) made a Lower High on the 1W Channel Down (RSI = 39.076, MAC = -8.620, Highs/Lows = -5.800, B/BP = -25.7200) and should now reverse lower towards a new Lower Low. The first short target is 293.80 as the Lower Low extension since the last bottoms supports there. If crossed, we will continue shorting, TP = 275.20.
Targest hit. Wait for confirmation on breakout points.Both TP = 30.14 and 29.44 hit as the previous bearish Channel aggressively broke earlier and met the targets much earlier than I expected. Soybean Oil has now entered a new Channel Down on 1D, which is coming off a Lower High (hence Highs/Lows = 0, RSI = 51.334). We now need to wait for confirmation from the two break-out points (illustrated by the circles). If the upper point breaks then we will go long (TP = 28.99 and 29.44). If the lower point breaks then we will go short (TP = 26.51).
