ZM1! trade ideas
Is it time to buy the retest ?Price started to form a liquidity zone in last week's trading and we started to see a liquidity grab move with a minor engulfing pattern at the last hours of the Friday session.
Price hit the lower lows of the liquidity zone and then form an engulfing candle. We could buy the retest here with targets above 440.
Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
~ Tuan Anh Commo
Long entry on upcoming retracementMeal has bypassed the critical zone of 384.7 - 435.8 with a monthly retracement way overdue. We have also arrived at the point where we were able to see from past rallies that this zone of pricing always indicated a reversal/retracement. We should be able to see a July '08 kind or May '12 kind of movement that will take place, hence, critical zone. Unless, the parabolic movement extends all the way to newer highs. This showed some equality in strength of buyers and sellers at this phase which will heighten the volatility. Fundamentally, nothing has changed for commodities market in general, still bullish. Ending stock still way below normal level. The length of this rally will very much depend on the worldwide pandemic development. Both production and demand in the next few months will have to be taken into account in effect of this pandemic. A very high price will eventually curb the demand but there is still a lot of room for this to eventually happen. Expect an incoming retracement to enter the buy position.
The Future Price Of Soybean Meal.Hello community, after a 5 wave (12345) impulsive structure we expect at least a corrective structure which contains lower degree impulses. Now the 5 wave impulse is getting completed and we expect bears to take over. I will keep updating this chart if necessary. Comment, like follow for more accurate ideas. Thank you.
Short ZM1 on H4 after breaking ending diagonalPrice hit the resistance zone on W and momentum got weaker. Moreover, an ending diagonal on H4 was appearing. I wait for the price that breaks the trend of ending diagonal then have a short position
ZMI am still staying with building my short position. There is too much of a bullish consensus in the market.
ZM, bean mealall the confirmation I need to load up on bean meal. the idea is to build a good position and follow the trend.
ZMha! what did I say. lost of money to be made in bean meal or beans. sometimes it pays for an Aston Martin, but most people don't listen. they're to busy trading e minis...
ZMaround 390 is a place to play around with a short position, or add to the existing one. It is just a try and a tricky one at best here that could pay off big. Keep an eye on the strength of the uptrend though and get out at the first sign of continuance to the upside.
Daily Soybean Mealchart shows a clear 5 wave count in 5 smaller waves. Waiting for confirmation to short. When wave 3 is extended wave 1 and 5 tend toward equality.
soybeans meal ideaHi friends,
small leg up then down for c as expanded flat = wave 4
do not forget to follow me ^^
Soybean Meal futures - (ZM1!) - dump it downSoybean Meal futures - ZM1! - It has completed ABC zigzag sequence (or 1-2-3 as impulse). The internal wave counts are also very clear. so stay bearish from current level for target zone around 305-300. There is huge divergence in indiacator indicates the possible correction ahead.
Soybean Meal Making A Bearish Flat - Elliott waveHello traders,
Soybean meal made a five-wave decline, down from 336.4 level, which is a strong indicator that bears are taking charge in the near-term. We can see a completed five-wave move at the end of May, when price started again recovering, however only for a three legged move. We believe a flat pattern is unfolding within a higher degree wave II now, because legs A and B have three sub-waves, and latest recovery, labelled as leg C is sharp and straight, in impulsive fashion.
Ideally, wave C of II will recover towards the Fib. ratio of 50.0 and 61.8 (310/312 level), where resistance will be seen, and a bigger, bearish reversal will resume its path.
Trade well,
The EW-forecast team
ZMN20-ZMU20Another agresive bull spread which is currently with good setup for trade. Commercials have an extreme short positions, which means, there is not much space for further price's fall. Moreover there is a good seasonality ahead, although LTD (Last Trading Day) is 30.6. so we are quite close. In general soybean meal is a small contract, we do not risk much. I have 3 spreads myself. I am aiming with my 1.PT to -2.
Long the breakout above 293DISCLAIMER :
The content on my TRADINGVIEW profile is for informational and educational purposes only and is not and should not be construed as professional financial, investment, tax, or legal advice. Trading has large potential rewards but also large potential risk. Do not trade with money that you cannot afford to lose. The past performance of any trading idea is not indicative of future results.
