SOYBEAN trade ideas
SOYBEANS - DAILY CHARTHi, today we are going to talk about Soybeans and its current landscape.
The Corn and Soybeans could (or not) give a sweet surprise for investors and U.S farmers as the Corn Belt it's poised to once more fall on Donald Trump grace, after a tough year for farmers, that already it's been hurt by the ongoing Trade War between U.S and China, and felt backstabbed by the government since the negligence of the government in obligate smaller oil refineries to respect the requiring quota of biofuel use, which resulted in a restrained demand growth and a squeezing of prices.
Now, after the walk through the darkest valley, U.S farmers start to once more see the light as Trump, seeking to regain their trust and votes from the region that back in 2016 supported him to the most. The President has been using the so-called "phase one" of this attempt of Trade Deal to force China to buy $50 billion of their agricultural goods, Trump it's wanting so badly to reclaim its title of champion of the farmers that it's pushing to the signature of the deal, to be on the farmer state of Iowa. The only thing in the way is to the deal be concretized, which might just get a bit harder as Trump has signed Hong Kong Human Rights and Democracy Act of 2019, giving support to Hong Kong protesters, and most possible dragging China ire towards the U.S considering the sensibility of China regarding its internal affairs.
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SOYBNSUSD - hiccup and up?I missed all the way down (linked idea), will try to load some longs in green areas. The higher green area for small position and larger position in the lower one. SL somewhere below 8.60 - pick your own risk level.
Disclaimer: this idea is solely for my own purposes, to satisfy the ego, if it will work out ;)
Soybeans? More like "SeeYa-BEANS" LOL, amiright? BYE-BYE BEANS!Invert the chart, and you've got a sexy cup and handle. Perfect time to short. Add in the Corona virus, and unless China buys the world's stockpile to feed people/livestock, no one is buying soy because they're quarantined. Regardless of the fundamentals, soy is going down.
Soybeans : Over Minor ResistancePrices of Soybeans are seen to be above the minor resistance. (9.118)
Although it may contain a slightly lower risk / reward ratio, it may be more profitable in low time-frame periods.
Those traders who want to be more safe can enter after a period of 1-2 weeks if prices below the resistance status is clear.
Furthermore, the highest basis of this analysis is the idea that both sides will make concessions in the trade wars between the US and China (My personal opinion).
Parameters :
Position Size : %1
Risk / Reward Ratio : 2.11
Stop-Loss : 8.75
Target : 10.256
SOYBEANS - Short IdeaI see an opportunity.
- Price making a double top on the daily.
- Price has had a significant run up and
entering resistance area.
- A doji on the daily uptrend, significant.
- A sell off of price after the doji with a
failure to break and close beyond the 50%
Fib level.
- MACD Divergence
- RSI overbought territory.
- Price in an area of significant resistance
going back to April 2017.
1% Risk, 1.75/1RR
Soybeans Head and Shoulders Setting Up?The chart for Soybeans looking very attractive right now. On the daily chart, we have an engulfing candle at a major flip/resistance zone. This has garnered the attention of any technical traders.
Moving down on the 4 hour, we get a clearer picture. We have been in a nice uptrend with multiple swings, higher lows and higher highs. This trend began to exhaust at the resistance/flip zone and we have had multiple red candles.
Looking for our first lower high confirmation here, and this would come in the form of creating a head and shoulders pattern.
So overall many good confluences for this trade, just awaiting the break of the neckline/support.
Would be looking to take profits at the 9.00 zone on this instrument. Around 935 on futures.
Long Term Prospects for SOYBNUSDThe SOYBNUSD, symbol ZS, is in a Bear Market Rally within a long-term Bear Market with price trading above the 50 week ema, but below the 200 and 800 week emas. The long term emas are mostly flat, signaling accumulation / distribution. The price action appears to be finishing up the c-wave of an x-wave before a final y-wave down. The long upwards candle wicks, the testing of the 200 ema, and consecutive dojis are all confirmation that a top is being putting in. This would correspond with a long-term commodities bottom expected in 2021.
The Market is in a Bear Market Rally on the daily, with price above the 50 ema, which is above the 200, but still below the 800 ema. The 50 ema is up-trending, but the other long term emas are mostly flat, signaling an accumulation / distribution range. Price is topping out having just completed an evening star pattern, but has yet to close below the 13 ema. Price has yet to break the uptrend line, so expect sideways price action, and another stop test of the high, with a trend break, confirming a sell off.
The Market is in a Bull Market on the 4 hour, with price trading above the 50 ema, which is above the 200 ema, which is above the 800 ema. After a Dark Cloud top, price traded down below the 50 ema on the four hour, formed a doji, and will likely reverse back up from here. Probably trade up in the coming week to finish out an M-Top formation, before resuming the greater down-trend.
This is my SOYBNUSD look ahead for my own trading purposes. FUTURES trading involves risk. Feel free to comment, but trade off of this post at your own peril.
