ZL1! trade ideas
Soybean Oil (ZL): Weekly EW CountAn ending diagonal is likely currently developing.
#contengconteng #zl #soybeanoil
ZL. technical analysisPrice may remain in sideways mode in range of 27.80 to 26.99. Price should go beyond the range to be in buy or sell mode. Refer chart.
Soybean Oil - Long Term Projectionmarket looks going downward for a while before it moves spike up. Otherwise if its failed to break the important level, will continue downtrend
Soybean Continues Uptrend, approaching fibo target 423sbo already reach and breaks 261 fibo level, so according to rule it shud hit level fibo 423
ZL Soybean Oil, short term correction, 60Price is supported at c line. There is a chance of rebound and if not, it will go down further to next support.
SOYBEAN OIL FUTURES (MAR 2019), 1D, CBOTTrading Signal
Short Position (EP) : 30.62
Stop Loss (SL) : 30.91
Take Profit (TP) : 30.04
Description
ZSH2019 formed Double Repo Sell at 1d time frame. Trade setup with Sell Limit at 0.382 Level (30.62) and place stop after 0.618 level (30.91). Once the position was hit, place take profit before an agreement (30.04)
Money Management
Money in portfolio : $1,000,000
Risk Management (1%) : $10,000
Position Sizing
$0.01 = +-$ 6.00/std-contract
Commission fee = -$5.64/contract (Standard)
EP to SL = $0.29 = -$174
Contract size to open = 57 standard contracts
EP to TP = $0.58 = +$348
Expected Result
Commission Fee = -$321.48
Loss = -$9,918
Gain = +$19,836
Risk/Reward Ratio = 1.91
