CHF/JPY, AUD/NZD and SOYBN/USD on watch for me today.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 materialises.
• If there's any ambiguity then I will not place a trade on this pair.
AUD/NZD:
• If price pushes down to and ideally just below the lower trend line of our most recent piece of structure 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 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.
SOYBN/USD:
• If price pushes down to our previous low 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 down to our previous low and the last part of the move is impulsive, then I'll be looking to get long with a reduced risk entry on the break of the flag.
• 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.
SOYBEANS trade ideas
NZD/USD, EUR/USD, EUR/NZD and SOYBN/USD on watch for me today.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 one hour flag forms, then I'll be looking to get long 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 materialises.
• If there's any ambiguity then I will not place a trade on this pair.
EUR/USD:
• If price corrects and a tight one hour flag forms, then I'll be looking to get long 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 materialises.
• If there's any ambiguity then I will not place a trade on this pair.
EUR/NZD:
• If price pushes up to and ideally just above our upper rayline and the last part of the move is corrective, then I'll be looking to get short with a risk entry either after a phase line break, or just below a one hour or a fifteen minute rejection from it.
• If price pushes down above our lower rayline, it does so impulsively 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 materialises.
• If there's any ambiguity then I will not place a trade on this pair.
SOYBN/USD:
• If price pushes up, it does so impulsively a subsequent tight one hour flag forms, then I'll be looking to get long 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 materialises.
• If there's any ambiguity then I will not place a trade on this pair.
SOYF Buy with short-term targetJust 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 and will see if the trend will continue. See you later!
Soybeans - Short IdeaI 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 of price here, 2:1 tucked in before hitting the 4H 200 EMA.
Its a solid short setup... that is all we can do, take good setups and manage risk...rinse & repeat.
1% Risk.
Soybeans - Short IdeaLove 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!
Soybeans - Short IdeaI have "bean" watching Soybeans for sometime now. I see price has entered an area of resistance, has hit a whole number of $12 and my heatmap indicator is showing divergence.
Price has fallen through my trendline.
I will be going short.
On the daily charts, a couple of shooting stars are present.
Enjoy!
Getting on the sideline with SoybeanI just exited half of my position on Soybean because we are hitting the resistance. This being said, I am still bullish and I want to explain my plans according to the different scenarios that I see.
Scenario 1: Price could go straight up to the next resistance, in which case I will have left some money on the table.
Scenario 2: We bounce to the downside from the current resistance and I get to buy again with a better price while using a wide stop below the previous neckline of the reversed head and shoulder. For this scenario I can either buy the falling knife or buy a breakout from a continuation pattern that might form. We'll see.
Scenario 3: Price pierces through resistance conservatively and tests the zone, at which point I can a) buy back on support and/or b) buy the breakout of a continuation pattern like a flag or a pennant.
Now short Soybeans...what a run. I have been reading the marco drivers on it's run up and the marco on why I think it will drop. man oh man... serious momo behind this commodity.
Ok, now at a pivot point, previous resistance, for an engulfing on daily. heatmap indicator overbought all day.
2:1 RR 1% risked.
Off the top of my head... I have had a couple great wins with this bean.. then a few small losses.
Let's see what happens.
SOYBEAN Higher Time Frame Outlook on structureHello traders:
Looking at soybeans from the higher time frame perspective and its price action structures.
We see strong bearish impulse down from mid of 2018, and has been in this larger channel like structure ever since.
Price has been consolidating for these few years, and finally breaking to the top in the recent times.
What I like about the price from a structure point of view is that we just broke the previous top, but on the lower time frame the price broke up in a corrective structure.
I see this type of price action over and over again. Price breaks up, catching a lot of buyers, then see a strong sell momentum down.
I wouldn't be surprise to see some bearish impulse from the lower time frame, to bring the price right back into this larger channel structure, and we can potentially see the next bearish move from the top.
For now, happy to be a bit more patient, and wait for price to develop a bit more.
thank you
SOYBEANS keeping pushing higher - another great RJT catchCaught using my RJT averages tool this SOYBEANS trade keeps moving higher.
84 points locked in (pink line - 0.8*ATR).
Currently 569 points in profit.
Waiting for exit signal (close cross of upper channel).
Continuation trade also executed and closed (continuation indication - TP white line) for 85 points profit (0.8 *ATR).
DM for more info/access.