Monthly pin bar developing - SOYBEANsPin bar developing on the monthly time frame.
Price has fallen through prior month lows that could act as support. Price has since pulled back above support.
Looking for price to consolidate around current month high before establishing new uptrend.
OANDA:SOYBNUSD
SOYBNUSD trade ideas
Buy soya, as trump is hinting to subsidize itthis trade is based on trump's tweet:
"If we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!"
This is with regards to american agricultural exports to china -> Soybeans
This is similar to subsidy, if government subsidies consumer, the price goes down,
in this case the producer is subsidised so the price will go up (government will buy no matter what..)
SOYBN USD BUY (SOYBEANS – US DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Currently price has completed the B wave, now we are expecting that price forms the C wave to complete the pattern.
So, wait for the price to hit the bottom of the pattern and watch strong price action for buy.
"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:
Soybeans: Sell opportunity towards the 0.5 Fibonacci.The price reversed the previous bullish sentiment on 1D and is currently neutral (RSI = 48.853, ADX = 28.377, Highs/Lows = 0.0000). The next long term direction should come after a lower test of (at least) the 0.500 Fibonacci retracement level. With 4H already on Lower Highs (Highs/Lows = -0.0750, B/BP = -1.5520) we have a TP = 8.637.
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