JaceYoung

JaceYoung

If the market continues its move up, I would expect it to find resistance in the Red Zone. This is a great area of prior support and resistance and is also a 61.8% Fib Retracement. May be a good opportunity to pick up 30 pips of profit before the market continues its uptrend. Let me know your thoughts!

JaceYoung

The market made a New Structure High back on August 4th signifying that we will have a continued uptrend potentially. Currently the market is retesting a big support zone, which happens to be a 61.8% Fib Retracement with the market becoming oversold as indicated by the RSI below. I would expect to see another rally coming to ATLEAST retest previous structure highs...

JaceYoung

My Market projection from 15 days ago has been correct thus far. (See here: ) We have had a great rally from the zone between the 38.2 and 50 Fib Retracement of the larger leg and a nice bounce off the 161.8 Fib Extension of the most recent leg down. My concern now is that we are approaching the overbought zone as indicated by the RSI below, BUT if the market...

JaceYoung

The market has recently made a valid double bottom with some bullish divergence on the RSI Indicator Below. This is also a pretty good zone of prior support/resistance and a 61.8 Fib Retracement of the previous move up leg. I am projecting the market to push higher into the 1080 range before it creates a small pullback from that zone. It definitely has the...

JaceYoung

The market has recently reached an oversold position as shown by the RSI Indicator. This is also an area of a 127.2 Fib Extension of the previous leg down, and is also a 78.6 Retracement of a higher time frame move up. Also, this is a great point of a prior support and resistance zone. I'm projecting that the market will hold this current level and rally to retest...

JaceYoung

The market has experience an an excellent rally over the past 10 days and is now hitting a prior area of support/resistance. When using the Fib Extension we are currently at the 127.2 Level, which also lines up with a 78.6 Fib Retracement at this same level. An additional confirmation can be found by the overbought level of the RSI Indicator below. I am predicting...

JaceYoung

The market has recently made a New Structure Low on the 1 hour chart and is now moving into the 38.2 Fib Retracement Zone of this leg. If we look left you can see this zone has acted as prior support/resistance multiple time. We also have bearish divergence with the RSI below. My prediction is that this price will roll over in this zone and go back to retest the...

JaceYoung Updated 

The market has formed a valid double top and is now setting up a nice 2618 opportunity. My profit target will at prior support around the 1.32817 level that is within the green shaded "take profit" area. I also like the bearish RSI below as well as a lower level confirmation. Let me know your thoughts.

JaceYoung Updated 

The market has now reached a good level of prior support/resistance, which also happens to be the zone between a 38.2 and a 50.0 Fib Retracement level. When using a Fib Extension and a short leg of this downward move we are also at a 161.80 Fib Extension level which can act as a strong level of support. Also, the RSI is substantially overbought. This would all...

JaceYoung

The market completed a valid double bottom last week at the $4.00 level as this is an "emotional" number in the market. First area of resistance is going to be around the $4.30 range, and if we can close about that level I would imagine the market will make a run back into the $4.60 which is our next area of resistance. Let me know your thoughts.

JaceYoung

Like the Wheat Market, Corn is massively oversold and is due for some buyers to come in. This market will have the potential to rally back in the 380's - 390's which would be our zone between the 38.2 and 50.0 Fib Retracement. This is also a great area of prior structure in the market. Also, since the market has made a New Structure Low, we can predict a...

JaceYoung

The market is drastically oversold as we are right in the middle of wheat harvest in Kansas. I would expect to see a rally here back up into the $4.50's - $4.70's as that is a prior area of support/resistance and a 61.8 Fib Retracement. This would be a good place for farmers to look to sell or forward contract some more grain.

JaceYoung

The market has made a new structure low and has become extremely oversold at this current level. Using Fib Extensions and Inversions I was able to draw a box between the 141 Extension and the 161.8 Inversion as a potential buying zone. If we can get some buyers I would see prices rallying back into the $4.40's to $4.50's range before potentially continuing a...

JaceYoung

Prices are currently reaching a 38.2 Retracement of the large leg of the move, which is a good area of prior resistance and support and just so happens to be a 127 Fib Extension and 127 Fib Inversion as well. We also have Bearish Divergence on the RSI. I am expecting a pullback into the 1240's.

JaceYoung

The market has made a New Structure Low (NSL) in the past couple days when the market became oversold and now has started to rally a bit. This NSL would signify another downtrend continuation trade possibility. Based on prior resistance/support areas, I am projecting the market to rally back into the $115-$117 price range, which happens to be the 61.8 - 78.6 Fib...

JaceYoung

The Market has made a New Structure Low, which signifies we could have a continue in our downtrend. The market became oversold yesterday and had a little bounce. I would expect prices to rally back up into the $141-$144 level before reversing again. This is a good area of prior resistance/support and would be a 61.8 retracement as well. If this trend continues I...

JaceYoung

The market has made a new structure low on the daily timeframe. We had a bounce in price yesterday and I am predicting a retest of the $4.70's area which is a good area of prior support/resistance and would be 61.8 - 78.6 retracement. I only look at the Daily Time Frame for Grain and Cattle Commodities.

JaceYoung

I'm looking for the market to fill the gap left my the market open. These gaps typically get filled 80% of the time. We are also at a solid are of resistance on the 1 hour and 4 hour time frames, and the move would complete at a 50% Fib Retracement of this leg, which happens to be right at the point where the gap would be filled. I also have Bearish Divergence on...