ZS1! trade ideas
CBoT soybeans remains short playSoybeans:
Nothing much changed on this chart and price keeps trading sideways within the boundaries of its expanded flat. We expect price to continue its down move from here and expect it to break its recent lows of the 940/935 zone finally during the coming week. If and after this happen the road to the (roughly) 915 level if free to trade to for price where we see the lows of April. The 'pit' that was formed during March this year at the 890/870 level then becomes a solid supportive level where a bottom could be found but we will have to see if and when that really happens. For now we keep our bear bias and our 885/875 as first target.
2618 trade possibility on Nov soybeansIf we hit the .618, a buy there and then hold for the 1.414 on the fib ext. This is also a complete abcd pattern as well. Stop at or below 940. makes the risk/reward ratio 1 to 2 at the 1.272. Even greater at the 1.414. bullish divergence on the rsi. Strong structure in the market at the 10.16 level and also around 982 level
CBoT remains a short playSoybeans:
Price has basically been bouncing between, roughly, the 980 level and 940 during the past 2 to 3 weeks keeps making impulsive moves after which a reverse occurs. Same happened again during the past week and especially the past 2 sessions showed a rather impulse to the upside which makes us believe that higher value is in the cards for this chart during the coming week. We still maintain our bear bias for price to break the 900 level downward comfortably but price apparently follows a route that takes longer than what we initially anticipated and which makes us push our timed target forward.
Soybeans: More Beearish Price Action Might Be AheadComments on thee chart. USDA figures are bearish as well. Seasonally this is a bearish period for this commodity. Add $ strength to the mix we have the perfect storm for more downside
Early sell signal at bearish supportIt looks like Soybeans retracement is done. Price action softens at Kijun Sen (bearish support)
Heikin-Ashi makes a doji candle. haDelta crossed down already on friday, haOscillator follows now.
Sellers may dominate again. This mkt is still bearish, until price is below Kijun Sen.
If anyone opens short, initial stop should be placed around 992.
CBoT Soybeans still looking for lower valuesSoybeans:
Nothing much to add to our last week's vision and the fact that last Friday's session showed a firmer market due to short covering does not change our bias. We are still looking for a further decline for this price. We kept our price target unchanged in level but have shifted it a bit in time.
Beans : long , short , than a much better long .Price has to turn up soon and move to the 10.00 area sell zone before it turns back down to trigger the main buy zone , if this does not happen idea becomes invalid .
Retrace to sell zonewill have to watch this to see if it plays out . I think the odds favor more downside to come .
CBoT soybeans unchanged shortSoybeans:
Price kept us waiting for a bit but made a decisive move to the downside after all during last week with especially a serious crack down of some 3% during Thursday's session and a break of the 962.50 immediate previous low during Friday's session. We have no reason to change anything in our projections or expectations and we only refined the targeted area a bit.
CBoT soybeans remains a bear bias with short playSoybeans:
The price is not following our preferred path and we have removed our bear-flag-pattern from the chart. Still, the EW count suggests another round of selling to the 900/880 level from here and as long as our resistance levels remain intact we keep our bear bias unchanged. Thursday's session created a classic 'Hanging Man' which is a reliable indication that the end of the move up is eminent but needs confirmation. Same confirmation came during Friday's session when the market posted a red candle. We expect a lower opening for Monday and follow through during the coming week.
SOYBEANS /ZS trend reversal started?soybeans and many other ags have rallied after dumping on the crop report and is possibly making a trend reversal after months of bearish action. I'm looking to pick up a long on a healthy pullback.
CBoT soybeans worth a short from hereSoybeans:
Price is following our preferred path only reluctantly and the earlier drawn 'bear-flag-pattern' is far from perfect. Still, we keep our eyes to the downside for this price and we have even trailed our target a bit down to the 870/850 zone which is some 10% below the current value. We should allow price to trade a bit up from here to the 1020/1025 zone where it would trade into a resistance area and an overshoot to the 1030/1035 will be tolerated as well. If price would break latter level to the upside we would have to return to our drawing boards and reconsider our bias.
August Soybean Futures LongThe 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 potential to continue its push up to retest the 1200 level like it did in June. Time will tell. Let me know your thoughts.
CBoT soybeansSoybeans:
Price has been moving sideways for most of the week but made an impulsive move up of 2% during Friday's session which makes us believe that a bit more upside is in the cards for the coming week after which we still anticipate price to reverse and resume its downtrend. A decisive close above the 1025 level will bring price to our critical resistance level of 1065 after which we will have to start reconsidering our bear bias. For now we still anticipate price to trade to 900 and possibly lower.
CBoT soybeans long play failedSoybeans:
Price did not reverse during the first 2 trading sessions of the past week but made a lower low instead which made us decide to abandon our bull scenario for now. Instead we are now looking for a further loss of value of another 10-12% before the run up is to be expected.
Price did make a solid move to the upside of 2.5% during Friday's session which indicates further increase on very short term (Monday/Tuesday next) after which we expect price to resume its move to the downside and start looking for the 900 level.
If and when price breaks the 1060/1065 level to the upside we will pull our previous bull scenario out of the drawer again but for now we keep the eye to the downside.
Soybean donwtrend continuationI find risk/reward of this trade quite attractive. Sell short at current price with stop above 1000. Fist (small) target @ 976, second target @ 942, third target @ 882.
CBoT Soybeans long play opportunity with a tight stopSoybeans:
Price made a strong move to the downside of some 2.5% after which it revered leaving a relatively long bottom tail for the daily candle. Price reached our target a bit earlier than we would have expected which is not a problem as such but the structure of the latest move is a problem.
Thus far we stick too our earlier casus in which we see price make a 20/30% swing up from here but we want to see the price reversal already during Monday/Tuesday failing which we will probably have to reconsider our bull ride bias. A long play opportunity is there at the opening but with tight stop.
Soybeans CBoT stopped out and waiting for a long play set up nowSoybeans:
Price corrected up during the first half of the past week and still has to complete its move down a bit further to the 10/9.75 region where we expect price to reverse and make a move up of 20%. Traders who entertained the short play last week should have been stopped out and if not their stops were not tight enough so they are more rather lucky than smart.
We expect price to touch our targeted level during the coming week from where a long play can be entertained with an upswing potential of 20/25% in price.
