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SOYBNUSD trade ideas

Soybeans: A Look at Current MarketOverall, market is down but could be in final stages of down trend from 2012 highs Monthly Chart In the March/April time frame, the DMI changed to where the -DI is dominant. The ADX continues to trend down signaling whichever dominant trend is not that strong. Current targeted support is 8.910. Though, there is an area in the +/-8.000 range that has provided support in the past. With the ADX approaching 20, it is possible that the 8 range (green on monthly chart) provides support for consolidation before next major trend develops. Weekly Chart The weekly chart has a more bearish definition to it. DMI - A sell trigger was hit the week of 3/6 at 9.972. The -DI is dominant so the TRIX will be used to drive exit and potential re-entry. TRIX - On week of 4/10, the TRIX signaled a potential exit. Price did close above this line during week of 5/1 but next week failed to follow-thru. So, weekly traders would have remained in trade. This week (5/29) will verify the down trend is continuing if TRIX holds below HMA. Daily Chart The daily chart has provided several sell triggers with most recent at 9.356. Price is currently sitting on previous support at 9.035 4hr Chart The 4hr chart has several interesting concepts on it. (1) A sell trigger occurred on 5/17 at 9.562 (2) The TRIX indicated a cover of short on 5/18. With next period follow-thru, the short would have been exited (3) A buy trigger occurred on 5/21. However, there was no follow-thru so a long position would not have been taken (4) When the ADX drops below both DI's and/or 20, trend trading should be put on hold and a price pattern for consolidation should be identified. From the consolidation, look for a breakout to trade. Some potential items to watch are: DMI - During this time, there were several triggers but only last had follow-thru TRIX - The TRIX dropped below 0 (bearish) and then pulled back but remained below 0 before continuing down again with the next trigger (5) Sell trigger at 9.361 with follow-thru and new short entered (6) A developing continuation pattern. I've seen these occur when the next time frame up (daily in this case) is developing a sustained trend. The TRIX/HMA combo indicate a new res->sup line but price fails to close and hold above it. If not stopped out, then continue to hold short.
OANDA:SOYBNUSDShort
by mxb1961
Soybeans (SOYBNUSD)- In the latest prospective planting document, it was reported that acreage allocated for soybeans will increase by 7% this upcoming season. This means that soybean is fundamentally bullish. Analysis from previous reports show that there is an 80% correlation between an increase in acreage and an increase in prices 10-days post the release of the report. Additionally, there is a perfect correlation between an increase in acreage and an increase in prices 20-days post. Regardless of acreage changes, soybeans prices have gone up 7 times out of the last 10 years 20-days post of the release of the prospective planting report. - It is anticipated that soybeans will drop to the next major support line before heading back up - Entry price will be approximately 9.16 - There is also a Gartley pattern, with the D point @ 9.20, which is confluent with the support line - First profit target will be at 10.260, however prices will likely go higher - Note: The D point of the gartley can drawn by using a 78.6% retracement of the XA leg
OANDA:SOYBNUSDLong
by STIADAYSOFPAST
1
Soybeans Bullish Gartley and My Short Term ViewPlease keep in mind when reading all of my charts I am still a novice and have very much to learn! But I still enjoy sharing my thoughts and interacting with the community, so here it is: The trend seems to be up so I like looking for a buy. The bullish Gartley completes at 10.437. This may be located on the trendline depending on when it completes, but seems it will be a zone of support. Stop losses for this trade would be below the dashed red line around 10.374. Targets would be the .382 (breakeven and half position) and .618 (rest of position or trail stop loss) and aim for the top of the structure (green zone is an approximation). Should price come to the completion point of the pattern I will also check my indicators but as it looks now I believe I will take this trade. Note that a strong rise may form a bearish AB=CD patterns 10.85. I have linked an idea regarding this trade below. Please let me know what you think of this idea and share your views on Soybeans with me. If you have any constructive criticism I am certainly open to that too as I know I have a lot to learn. Cheers!
OANDA:SOYBNUSDLong
by SharkbaitAl
Soybeans: Potential Confluence of 2 Bearish AB=CD PatternsMy main idea here is to watch for weakness and short in the red area which is the completion of the two bearish AB=CD patterns shown in the chart. There is also a longer term downtrend line at this zone which would be a nice place to enter. At that point I will also look for divergence in my indicators, as well as check for any warning signs such as large bullish candles, etc. For this idea to play out Soybeans still has room to the upside but there is of course the possibility that these patterns do not complete. So for the shorter term I am watching for trade set-ups in either direction with a slightly bullish bias. Your comments and feedback are always welcome and appreciated.
OANDA:SOYBNUSDShort
by SharkbaitAl
Soybeans: My Long Term Perspective and Possible PatternsIn the chart are potential patterns which I have identified on the long term Soybeans chart. While only some or even none may complete I will be using this idea as a journal which I am planning to update every week or two regarding the patterns in the chart or any new patterns which I can identify. If the smallest AB=CD patterns shown fail the trendline will probably have also broken, which would suggest to me we could get enough bullish momentum to take us to the completion point of some of the larger patterns. I am very interested in seeing how this chart will play out. If you have any views on Soybeans please share it with me!
OANDA:SOYBNUSD
by SharkbaitAl