SOYBEANS trade ideas
BUTY SETUPLong correction from last impulse is about to over therefore i ecpect another impulse to target as marked on chart.
We have a clear divergance in MACD .
Cross market analysis in soft commodities shows similar projections.
Dollar is getting weaker which supports higher price ofcommodities in general.
Wait for an impulse on lower timeframes to confirm bull market.
Good luck !
Close below sma 20 on hidden momo divergenceAlso OB on downtrend near resistance. Corn & wheat already started to pullback.
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.
SELL SETUPWe had impulse down and we are having flag in making.
Wait for breakout of trendline to catch another wave downn.
soybeans...looking for ending correction as you see the candles of trend (falling ) are tall and on correction are weak so im waitinf for ending correction and entry to sell after a good bearish candle
Soybeans looking bearish ? A break and close below the lower trend line on this daily chart and i will attempt a short with a stop around 9550/600. A more aggressive short could be taken now as we have a double top in place and resistance has been respected at 9560/70 zone.
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
soybean...fallingvery typical example on trending in my strategy ...
1 - when chart started to go upside it broke descending trend line but couldnt passing out of a pivot point .....so ....chart return to falling
2 - after chart couldnt pass of a pivot it started to falling and after broke ascending tl it also has passed out of a pivot point
result :
after breakout of a tl and passing out of pivot point in my idea trend is downtrend now...
wish be useful .....good luck
Soybeans LongThe market had been in an uptrend after that had made deep correction and formed bottom. The price started to make higher highs and higher lows which is indicator that the marker is preparing to get back in an uptrend. The 200 EMA is also pointing higher. Set a limit order which was activated after that the price went against me but didn't manage to hit the stop loss. Expect further higher move.
Bearish Fundamental for SoybeansLong-term fundamental is bearish. US has big soybeans stocks, export is falling. Harvest in Brazil and potentially big crop in South America adds bearish sentiment. Weekly chart shows rejection of VAH, price moves down inside balance, so I'm waiting the continuation of price falling.
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!
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.
