FSOY1! trade ideas
Soybean Oil PnF Trade Short or LongNice opportunity to go short or long.
Bias: Long trend
Small short trade to the downside.
Or continuation long.
Thanks
Holm
Downward movement of Soybean oil FuturesAs market is still in bearish bias, price is testing the support level of 29.20. Downward movement is still expected for price to test the next support level.
Waiting for breakoutlong sideways, the price will move in the sideways range until it breaks support or resistance.
Next moveAfter breakout, price move until resistance level. If it can not break the resistance it will go down.
Short SBO with target at 27.20 Short SBO with target at 27.20
After retraced at previous resistance, let see if price go downwards to 27.20
Amin.....
ZL1! DAILY LONG TRADE PLAN IDEAZL1! LONG DAILY
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Analysis:
Big time frame
-Weekly has a flag pattern will go up to test kijun sen, supply zone and fibonacci 50%-61.8%. The priority is SHORT trade but can LONG trade in countertrend.
Trading time frame
-Daily has big bull bar breakouts the previous daily resistance and is above kumo cloud but rejected at daily supply zone. the movement will down test the below trend line
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Action:
-Wait: Price Action confirm at below trend line for LONG trade
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Harmonic & Support and Resistance LinePrice has reach support area at 27.50 and reach Bullish Crab AD.
Potential long with minimum tp at 27.79
Best sideways for breakoutYellow area indicates sideway market which is the best time to wait for breakout. Basically it will go down. This indicator is designed to identify the best area to enter market.
SBO - A Rally to new high, or a retracement to lower channelSBO - A Rally to new high, or a retracement to lower channel
