SOYBNUSD trade ideas
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Monthly pin bar developing - SOYBEANsPin bar developing on the monthly time frame.
Price has fallen through prior month lows that could act as support. Price has since pulled back above support.
Looking for price to consolidate around current month high before establishing new uptrend.
OANDA:SOYBNUSD
Buy soya, as trump is hinting to subsidize itthis trade is based on trump's tweet:
"If we bought 15 Billion Dollars of Agriculture from our Farmers, far more than China buys now, we would have more than 85 Billion Dollars left over for new Infrastructure, Healthcare, or anything else. China would greatly slow down, and we would automatically speed up!"
This is with regards to american agricultural exports to china -> Soybeans
This is similar to subsidy, if government subsidies consumer, the price goes down,
in this case the producer is subsidised so the price will go up (government will buy no matter what..)
"Top and Bottom Analysis" SOYBEAN by ThinkingAntsOk4H CHART EXPLANATION:
In 4H timeframe, we observe that price has broke the Descending Trendline with a strong movement. It has potential to reach the Resistance Zone. However, we need to be careful because the downtrend still active, so it can be just a correction to continue the down movement.
Updates comming soon!
MULTI TIMEFRAME VISION:
- Weekly:
- Daily:
Wedge and Volume DivergencePrice was going up with volatile movement yet the volume decreasing, result was that price broken the rising wedge agressively.
Bullish SoybeanPrice touched 10 month low which is a significant support level.
Look to go long today or tomorrow depending on intraday structure.
Do you anticipate much retracement into previous day if trading tomorrow's open.
Stop below last swing low OANDA:SOYBNUSD
Soybeans ShortBreak below of the channel. Even though it is a very slight break and this would be a little early for entry I really like how the candle closed solid with no wick. Small position here.
Up?So the best way to trade a new pair is just to jump into it with reasonable risk. Price is dropping but let's see what happens over the next few days. Should price show rejection, it'd be a good idea to go long.
Soybeans: Sell opportunity towards the 0.5 Fibonacci.The price reversed the previous bullish sentiment on 1D and is currently neutral (RSI = 48.853, ADX = 28.377, Highs/Lows = 0.0000). The next long term direction should come after a lower test of (at least) the 0.500 Fibonacci retracement level. With 4H already on Lower Highs (Highs/Lows = -0.0750, B/BP = -1.5520) we have a TP = 8.637.
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Looking for a move towards the top of the bullish channel.Direction : Bullish
Entry reason : Rejection of the bottom of the bullish channel.
- Entry: 8.9318
- TP: 9.0360
- SL: 8.8800
SOYBEENS ARE TEH FUTUREThe patterns.... The farmers.... Soybeans are the new corn. Move over high fructose corn syrup. LOL lets get dis bread.
