Sell the soybean oil I see a three waves structure and the price consolidates around the high level, which means the price could potentially reverse here, the sl and tp area are those red boxes in the chart.
anyway, the exceed of the 38.30 may invalid the setup.
Success
RandR
SJC1! trade ideas
Potetial cypher pattern completionLook to buy this market at the .786 retracement of X to C. This would be a cypher completion
CBoT SoybeansSoybeans:
Price has developed an ascending channel during the past months with higher highs and higher lows. The latest EW count suggests that price is initiating a 3 of 3 wave which should make price a considerable move to the upside from here. Ideally, price would correct one more time to the lower and supportive line of the ascending price during next week where price should then find support at the 1020/1010 zone after which is can trade up with the 1100 mark as first target during the first half of January. The 1100 region will offer price some resistance and will probably cause a minot corrective move to the downside after which price can continue its move up towards substantial higher levels. If and when price would go down to the 985 level we will have to reconsider our bull scenario
Soybean forecastHi guys
The ZS1! is in a channel so buying into the impulse wave is a good idea. Then I expect a move back into structure. So we can easily take advantage of both sides of the move!
Thank you for your support.
Soybean nice channelHi guys
The ZS1! is in a channel so buying into the impulse wave is a good idea.
Use a tested strategy to trade. If you don't know when and how to enter better not do it because you will not be able to manage it and would likely lose your money. Trading is high risk. You need knowledge, experience, and practice to succeed.
Thank you for your support.
Soybeans to Head Lower With the convergence of the Stoch RSI, downward trend in price, as well as the MACD, I would say the bears are alive.
RSI is also moving down. A long way from indicating an oversold market, but it may be headed there.
Open Interest has been rising as the price has fallen the last few days, which indicates another sign of the bears.
I'm gonna go with a short on these Jan beans, at least for the near term.
SOYBEAN H4 LONGBig rally of price which we can watch on Weekly chart, correction and now price made HH on H4 chart gives possibility to go again long direction at least to 1023. I will observe if price will returne from 61.8 FIBO retracement or lower.
CBoT SoybeansSoybeans:
We are rolling over to the JAN17 contract.
Price advanced further during the past week and broke up through our pivotal resistance level. Stops were hit and short traders are now sidelined.
We now anticipate that price will probably trade further up during the coming 2 weeks or so to reach the 1070 zone (basis JAN17) from where it will probably still make one run down. Breaking further up and trading higher than 1070 will probably mean that a long term bottom has been put on the chart.
We are going to step back in order to have a distanced look at this market for some time.
***Short opp***We have an evening star candle stick up here.
Long term trend down.
Good opportunity to go with the trend.
Future trading involves risk and is not suitable for every investor.
Buy Soybean Futures now and hold for 2 weeksThe soybean chart looks prime to push higher for the next 2 weeks. I recommend buying soybeans a 986.0 or better before the end of the week, and hold it until the end of the first week of November, or cover around 1028.0 or better.
CBoT soybeans still a sort playSoybeans:
Volumes for the X16 contract are still almost twice as high as volumes for the F17 contract but open interest went already higher for the F17 during the past week. We will roll over soon as well but still kept the X16 for this week.
Price made a 2% advance during the week which is not the end of the world but it did break our first resistance at 975 which is not what we were looking for. The most essential resistance at 994, however, remained intact and as long as that pivotal resistance has not been broken we keep our bear bias unchanged.
The most significant thing that we can see on this chart is that price has not been making any ardent moves during the past 6 to 7 weeks. After it impulsive decline from 1020 to 938 during the last week of August price has been bouncing between the 935/940 level on the downside and the, roughly, 990 zone on the upside without making any decisive moves. This, together with our pivotal resistance at 994 still being intact and the current operative EW count, is a very strong reason for us to keep our bear bias still in force. Nothing much has changed for our outlook in the chart except that we have moved on our price target in time a bit.
The pressure in the market is building up which means that we should expect a violent move on very short notice. Our preference is that same impulsive move will be to the downside with a potential of 10% decline from here. However, price is so close to the pivotal resistance that there is an increasing chance that the move will be up and that we will have to call for a long term tradable bottom in this market as well. So caution is to be added to caution and stops are to be tightened.
Long Soybeans on Consolidation BreakoutSoybeans has been supported by a rising trendline(yellow) and has just broken out upwards of the consolidation area. We should see higher prices from here on...
***Short Opp***Notes on chart.
Futures trading involves risk of financial loss and is not suitable for every investor.
#ZS1!(SoyBeans): Bulls Around At Accumulation Breakout!Traders,
Update: Price has moved very well since I last posted Soybeans (See related ideas)
Bullish candles dominating the bottom of the range right at the rounded bottom/accumulation. Expecting some more upside soon, maybe now or after some very slight consolidation over next couple of days. Expecting a nice move out of the case into the highs. Will be a nice corrective move.
I hope you have your own tested trading strategy to trade this move when it starts
CBoT soybeans keeps its bear scenario for nowSoybeans:
The first essential resistance of 975 was not broken but price certainly knocked on its door during Wednesday's and Friday's session which makes us to add caution to caution with our outlook for this chart. Basically the week showed a jigsaw candle that did not break the resistance on the upside and did not take the previous low on the downside. In other words: no decisive move was made during the past week. Price is also moving with an ending diagonal already since the second half of August. An ending diagonal principally is a reliable continuation pattern from where price usually breaks out at 2/3 to 3/4 of the diagonal which, ideally, would have happened last week but could still happen next week.
In short: nothing really shocking happened during the past week and, even though we did not see the expected decisive break to the downside, the bias remains unchanged to be bearish. As long as the pivotal resistance at 994 remains intact we have no reason to change our opinion.
CBoT soybeans remain a short playSoybeans:
We will roll over to the JAN17 chart as soon as JAN's volume starts equalling NOV's volume.
Again no decisive break of price during the past week which is something that we have been waiting for since some time now. The weekly chart (not displayed/attached) shows us again a 'spinning top' candle which principally expresses indecisiveness of a market and which still leaves the door for our bear bias wide open. Last week's 'spinning top' candle had a relative long topping tail which indicates that the bull forces ran our of power during the process of trading up. Even though it does so less than perfect, price still reasonably follows our preferred path that we drew on the chart three weeks ago and we keep our bear bias unchanged. A break of the most recent low at 934 will give price an acceleration to the downside. Last week's high at 975 represents a resistance value that we would not like to see broken and a break of the 994 resistance will negate our bear bias outright and will send us back to the drawing board.
CBoT soybeans still bearishSoybeans:
We were expecting that price would break down through the lower boundary of the sideways channel at 935/940 but price continued trading sideways during the week although price took out its most recent low during last Tuesday's session. This break of the most recent low at 937 was not followed by further decline though.
The weekly chart (not displayed) shows a 'spinning top' for the past week which indicates indecision of the market and which keeps the door wide open for further decline. We maintain our bear bias for this chart and expect, again, that price will now decisively break out to the downside of the flat sideways during the coming week. The next challenges are the lows at the 916/910 zone of early April after which the 880 level comes in sight as first target.
